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Asian stocks close up

AFP, HongKong
Asian stocks closed mostly up Monday, buoyed by optimism ahead of an expected US interest rate cut later in the week I and the belief that the worst leg of the global financial crisis has ‘ passed.
Japan, the region's biggest market, rose about 0.2 percent.
I with Hong Kong, Taiwan and । Singapore also ending higher.
1 But mainland Chinese (shares fell more than two percent. Last week they surged nearly ten percent in a single day in the wake of a steep cut to a Stock trading tax.
w The Indian stock market ended down too, with investors fearing the authorities will move to slow the economy in a bid to curb high inflation.
r * The Fed, the US central bank, is expected to cut
I American rates by 25 basis points Wednesday to two percent. The prospect of the cut raised die mood in Asia. Wall Street’s performance late last week also helped.
TOKYO: Japanese share ‘prices ended slightly higher latter the benchmark index briefly topped 14,000 points for the first time in two months on easing worries about tight credit and corporate earnings, dealers said.
The benchmark Nikkei-225 index ended 30.90 points higher at 13,894.37, off a high of 14,003.28. The broader Topix index of all first-section shares fared even better, advancing 21.84 points or 1.63 percent to 1,361.75.
HONG KONG: Hong Kong share prices closed up 0.6 percent, dealers said. The Hang Seng index closed up 149.51 points at 25,666.29.
SHANGHAI: Chinese share prices closed 2.33 percent lower, dealers said. The benchmark Shanghai Composite Index, which covers A and B shares, closed down 83.03 points at 3,474.72 with turnover of 109.2 billion yuan (15.6 billion dollars).
SEOUL: South Korean shares-closed0.1 percent lower, dealers said. The KOSP1 index ended down 1.51 points at 1,823.17.
SINGAPORE: Singapore share prices closed up 0.39 percent, dealers said. The blue chip Straits Times Index rose 12.43 points to 3,201.63 on
volume of 1.34 billion shares worth 1.47 billion Singapore dollars (1.08 billion US).
K U A L A L U M P U R : Malaysian share prices closed 0.6 percent higher, dealers said. The Kuala Lumpur Composite Index (KLCI) gained 7.23 points at 1,295.31.
BANGKOK: Thai share prices closed 0.51 percent higher, dealers said. The Stock Exchange of Thailand (SET) composite index rose 4.23 points to 836.42 while the blue-chip SET 50 index gained 4.41 points to 602.74.
JAKARTA: Indonesian shares closed 0.6 percent higher, dealers said. The Jakarta composite index closed up 17.73 points at 2,254.31.
MANILA: Philippine share prices closed 1.4 percent down, dealers said. The composite index gave up 38.49 points to 2,739.44 to an 18-month low. The all-share index was down 19.30 pointsat 1,711.36.
MUMBAI: Indian share prices closed down 0.64 percent, dealers said. The benchmark Mumbai 30-share Sensex index fell 110.02 points to 17,015.96.