Asia higher on another Wall St boost


Taiwan's market is back in the black after a choppy start Thursday

TOKYO, Japan (CNN) -- Asian stocks are broadly higher heading into Thursday afternoon after markets got a lift from another strong showing on Wall Street.

The gains are relatively subdued, compared to the 2.2 percent rally by the Dow Jones industrial average on Wednesday.

But Asian stocks had already risen sharply in the previous session.

Tokyo's benchmark Nikkei 225 average is up 31.95 points or 0.32 percent to 9866.35 at the end of Thursday's morning session.

The broader capital-weighted Topix is 0.43 percent higher to 966.45.

Markets in South Korea, Australia and New Zealand are up modestly. Hong Kong opened in the red, down about a third of a percent, recovered, then dipped again near midday. Taiwan's Taiex likewise dipped into the red before recovering.

Singapore lower


NEC is one of several tech stocks in Japan to be trading slightly lower

Singapore's Straits Times index is down about half a percent in late morning trade.

In Tokyo, big banks are mostly lower, as are some tech stocks such as Fujitsu, Toshiba and NEC.

Consumer electronics leader Sony is up just 0.2 percent, while rival Hitachi is 1.23 percent higher at 657 yen.

Exporters including big automakers Toyota and Nissan are stronger, up 2 percent and 1 percent respectively. Honda, the other member of the big three, is down 0.4 percent.

Toyota's rise came a day after it announced a 35 percent year-on-year jump in group operating profit for the April-June quarter, well above analysts' forecasts(Full Story).

Telco giant NTT is again higher, putting on 7000 yen or 1.42 percent to 501,000 yen.

"Investors are coming back to the market very cautiously," Tokio Furuta, a general manager of equities trading at Tokai Tokyo Securities, told Reuters news agency.

"They're taking time to sound out sentiment after seeing massive sell orders from foreigners pulling down the Nikkei near the post-bubble lows."

Nikkei near lows

Earlier this week, the Nikkei went close to its year-to-date closing low of 9,420.85 marked in February, which was the lowest close since November 1983.

But a rally on Wall Street helped send the Nikkei up 3.51 percent on Wednesday for its fourth-biggest gain this year.

Markets in the U.S. again closed higher Wednesday, despite a choppy start.

The Dow Jones industrial average put on 182.06 points or 2.2 percent to 8456.15, rebounding from a 60-point drop at one stage. The Nasdaq rose 21.35 points or 1.7 percent to 1280.90 after being down earlier in the day(Full U.S. roundup).

In Australia, the S&P/ASX200 is up 8.3 points or 0.27 percent to 3059.3.

Big retailer Coles Myer is down almost 3 percent to A$5.96 after reporting full year sales were up 8.8 percent to A$25.5 billion. It said full year profit, to be announced in early October, would likely be at the lower end of the A$350-365 million range.

Telstra, BHP higher

Telco leader Telstra is up slightly, as is BHP Billiton, which reported full-year profits Wednesday (Full Story).

Market heavyweight News Corp is down just over 1 percent to A$9.17.

In Seoul, SK Telecom is up 1.67 percent to 213,000 won. Samsung Electronics, steelmaker Posco and leading carmaker Hyundai Motor are all slightly higher.

Hong Kong bluechips are mixed. Banking giant HSBC is down marginally, but Hutchison Whampoa and Cheung Kong Holdings are up a little.

Heavyweight mobile telco China Mobile is up almost 1 percent to HK$21.55.

In Singapore, the Straits Times index is down 9 points or 0.6 percent to 1485.69.

Singapore's No. 2 bank UOB is up 3.1 percent to S$13.30. It reported a 30 percent lift in first half profits Wednesday.

Reuters contributed to this report.