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Asian stocks close mostly up

AFP, Hong Kong
Asian stocks dosed mostly up Tuesday, helped by an easing in oil prices from record levels, but the Chinese market slipped back in the wake of the deadly earthquake in Sichuan province.
Japanese shares jumped more than 1.5 percent amid a generally upbeat mood across Asia following a rally of about one percent on Wall Street on Monday.
1 long Kong and Taiwan both rose nearly two percent, while South Korea and Singapore posted gains of roughly one percent. Indonesia led the smaller bourses, rising 1.7 percent.
But the Chinese stock market fell back 1.84 percent following Monday's powerful 7.9-magnitude quake, which so far has killed around 12,000 people.
The temblor was the country's biggest quake for a generation. Experts warned it could drive up food prices in Cliina even more and set back efforts to tame inflation.
Some Japanese companies had to suspend operations in die affected area. But other
regional stocks, such as cement firms, surged on expectations of rising demand for recon-structionwork.
Australian shares also fell back Tuesday as investors turned cautious ahead of the Labor government's budget statement. They were joined in die red by Indian stocks.
The positive overall Asian market performance came after oil prices eased from record highs to around 123 dollars per barrel. The high oil price has raised fears of slowing economic growth.
TOKYO: Japanese share prices soared 1.53 percent, lifted by gains on Wall Street, a drop in crude oil prices and solid earning results from high-tech companies, dealers said.
The benchmark Nikkei-225 index rose 210.37 points to closeat 13,953.73.
HONG KONG: Hong Kong share prices closed up 1.95 percent, dealers said. The Hang Seng index closed up 489.60 points at 25,552.77. Turnover was 80.84 billion Hong Kong dollars (10.36 US dollars).
SHANGHAI: Chinese share prices closed down 1.84 per-
cent, dealers said. The benchmark Shanghai Composite Index, which covers A and B shares, closed down 66.74 points at 3,560.24 on turnover of 122.7 billion yuan (17.5 billiondollars).
SEOUL: South Korean shares closed 1.1 percent higher, dealers said. Hie KOSPI index finished up 19.10 points at 1,842.80. Volume was 5.6 trillion won (US$5.37 billion).
SINGAPORE: Singapore share prices closed up 0.73 percent, dealers said. The blue chip Straits Times Index rose 23.26 points to 3,203.42 on volume of 1.30 billion shares worth 1.52 billion Singapore dollars (1.12 billion US).
BANGKOK: Thai share prices closed 0.38 percent lower, dealers said. The Stock Exchange of Thailand (SET) composite index fell 3.21 points to close at 839.01, while the blue-chip SET 50 index lost 3.23 points to 604.95.
MUMBAI: Indian share prices closed 0.64 percent down, dealers said. The benchmark Mumbai 30-share Sensex fell 108.04 points to 16,752.86 points.