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Asian stocks mostly up

AFP, Hong Kong
Asian shares rose sharply Wednesday following an oil price tumble, with India surging nearly six percent after the country's ruling coalition survived a parliamentary no confidence vote.
The Mumbai bourse jumped 5.94 percent after the government's win in the vote held Thesday put paid to fears of early elections, raising hopes of progress for a controversial nuclear deal with the US and other economic reforms.
Elsewhere in Asia, Taiwan and Singapore rose more than three percent. Hong Kong and South Korea posted gains of around two percent or more.
Japan, Asia's biggest bourse, ended up nearly one percent, but China bucked the trend to end down.
Among smaller Asian markets, Malaysia led the gainers, up 2.7 percent even though the government said inflation hit a 26-year high of 7.7 percent in June, which could lead to
higher interest rates.
TOKYO: Japanese share prices rose almost one percent to a two-week high, lifted by a rally on Wall Street, a drop in crude oil prices and easing financial worries, dealers said.
They said a weaker yen eased concerns about the outlook for export earnings, giving an additional boost to die market.
The Tokyo Stock Exchange's benchmark Nikkei-225 index closed up 127.97 points or 0.97 percent at 13,312.93. The broader Topix index of all first section shares added 15.61 points or 1.21 percent to 1,303.35.
SHANGHAI: Chinese stocks closed down 0.29 percent, dealers said.
The benchmark Shanghai Composite Index, which covers both A and B shares, closed 8.27 points lower at 2,837.85 on turnover of 64.2 billion yuan (9.4 billion dollars).
"There are too many uncertainties in the property sector and it's not clear whether the audiorities will loosen credit
controls in the near term," Chen Jinrcn, an analyst at Huatai Securities, told Dow Jones Newswires.
SINGAPORE: Singapore share prices closed 3.06 percent firmer, dealers said.
The blue-chip Straits Times Index finished 88.32 points higher at 2,978.98. Volume traded totalled 1.37 billion shares worth 1.75 billion Singapore dollars (1.29 billion US).
KUALA LUMPUR: Malaysian share prices closed 2.7 percent higher, dealers said.
The Kuala Lumpur Composite Index gained 29.84 points to 1,139.41.
Annual inflation hit a 26-year high of 7.7 percent in June, official figures showed Wednesday.
"June CPI was substantially above market expectations of 6.7 percent... this could lead to heightened expectations of an interest rate hike," an analyst with a local research house told Dow Jones Newswires.
BANGKOK: Thai share prices closed 1.76 percent
higher, dealers said.
The Stock Exchange of Thailand (SET) composite index rose 11.99 points to close at 694.14 points, while the blue-chip SET-50 index gained 9.13to489.37.
JAKARTA: Indonesian shares closed up 0.6 percent, dealers said.
The Jakarta Composite index rose 13.09 points to 2,225.84.
"Bargain buying in banks and automotive stocks due to lower oil prices helped the index higher despite selling in commodity-related stocks," a trader told Dow Jones Newswires.
MUMBAI: Indian shares closed up 5.94 percent Wednesday after the government won a parliamentary confidence vote, boosting its economic reform agenda, dealers said.
The benchmark Mumbai 30-share Sensex index rose 838.08 points or 5.94 percent to 14,942.28, its fifth straight day of gains.