HONG KONG, Sept 12: Asian stocks closed mostly higher on Friday as dealers took a lead from Wall Street on hopes that troubled US bank Lehman Brothers could find a suitor.

The Tokyo bourse rose almost one per cent, despite the economy posting its sharpest contraction in nearly seven years during the last quarter.

The world’s second largest economy shrank at an annualised 3.0 per cent in the three months to June, the sharpest drop since a 4.5 per cent fall in the quarter through September 2001.

But dealers were more concerned about developments on Wall Street after a report that Bank of America was among companies in talks to salvage Lehman, which badly needs a boost after massive mortgage-related losses.

Lehman also helped to push up Seoul 2.4 per cent, which was also boosted by falling oil prices, and Sydney 1.9 per cent. However, Jakarta slumped 3.5 per cent as investors grew concerned at a weakening ruppiah and Mumbai shed 2.26 percent amid concerns for local IT companies’ profits.

TOKYO: Japanese share prices edged up 0.93 per cent, dealers said.

The Tokyo Stock Exchange’s benchmark Nikkei-225 index closed up 112.26 points to 12,214.76 ahead of a three-day holiday weekend in Japan.

The broader Topix index of all first-section shares gained 14.48 points or 1.25 per cent to 1,177.20.

Mitsubishi UFJ Financial Group rose 4.3 per cent.

But auto shares tumbled as the yen marched higher against the euro. A higher yen makes exports more costly. Honda Motor shed 1.97 percent to 3,480 yen.

HONG KONG: Share prices closed down 0.2 per cent, dealers said.

The benchmark Hang Seng Index fell 35.82 points to 19,352.90 on turnover of 57.77 billion Hong Kong dollars (7.41 billion US).

SYDNEY: Australian share prices closed up 1.9 per cent, dealers said.The benchmark SP/ASX200 gained 89.5 points to close at 4,903.8 while the broader All Ordinaries rose 85.6 points to 4,957.1.

Turnover was 1.21 billion shares worth 4.53 billion dollars (3.66 billion US) with some 536 stocks closing up, 471 down and 315 unchanged.

Financials picked themselves up off the canvas as concerns over a Lehman Brothers knockout eased slightly, IG Markets deputy head of dealing for Australia Martin Batur said.

BHP Billiton rose 4.4 per cent to $36.00 while rival Rio Tinto jumped 4.6 percent to $106.25.

Commonwealth Bank was up 2.4 per cent to $42.99 and Westpac rose to $23.52 .

SINGAPORE: Singapore shares closed 1.16 per cent higher, dealers said.

The blue chip Straits Times Index rose 29.52 points to 2,570.67, with 946.29 million shares worth 1.10 billion Singapore dollars (767 million US) changing hands. Declining stocks outpaced risers 277 to 219 with 850 issues even.

KUALA LUMPUR: Malaysian share prices ended 0.3 per cent higher, dealers said.

The Kuala Lumpur Composite Index rose 2.96 points to close at 1,044.03.

Tanjong rose 3.1 per cent to 13.40 ringgit as YTL Power inched up 3.4 per cent to 1.81 ringgit.

Maybank rose 2.7 per cent to 7.70 ringgit while Sime Darby moved up 2.5 per cent to 6.10 ringgit.

JAKARTA: Indonesian shares slumped 3.5 per cent, dealers said.

The Jakarta Composite Index tumbled 66.07 points to 1,804.06, the lowest closing level since March 22, 2007.

The global economic slowdown and weakening rupiah are negative factors, Katarina Setiawan, head of the research department at Kim Eng Securities, said in a research note.

WELLINGTON: New Zealand share prices rose 0.84 per cent, dealers said.

The benchmark NZX-50 index gained 28.14 points to 3,361.688.

Fletcher Building led the way, rising 30 cents to 7.65 dollars.

Top stock Telecom remained out of favour, dropping a further four cents to 2.97, while Fisher & Paykel Appliances added four cents to 1.81, and Fisher & Paykel Healthcare was up eight cents at 3.22.

MUMBAI: Indian shares fell 2.26 per cent, dealers said.

The benchmark 30-share Sensex index fell 323.48 points to 14,000.81, the fourth consecutive day of losses.—AFP