A strong earnings report from US chip giant Intel boosted most Asian shares Wednesday but some traders kept to the sidelines as they awaited key economic news from the United States and China. The euro remained firm after Greece, which has secured a bailout deal for its debt problem, successfully launched a bond auction amid strong demand.
Intel, the world's biggest computer chip maker, said after the US market closed Tuesday that first quarter net profit rose nearly four-fold to 2.4 billion dollars. Tokyo closed 0.39 percent, or 43.67 points, higher at 11,204.90, while Sydney was 0.87 percent, or 43.1 points, stronger at 4,994.7.
Taipei added 0.84 percent, or 67.40 points to 8,097.13, with chip giant Taiwan Semiconductor Manufacturing Co rising 1.43 percent to 63.8 Taiwan dollars and United Microelectronics Corp 0.3 percent higher at 16.65. "After taking in all the positives, the Nikkei will stay in positive territory," Kazuhiro Takahashi, general manager at Daiwa Securities Capital Markets, told Dow Jones Newswires.
Trade was cautious ahead of Thursday's release of key Chinese economic data for the first quarter, including consumer prices and gross domestic product. Bangkok is closed for a public holiday. In other markets, Singapore rose 1.62 percent, or 48.14 points, to 3,019.74. The market was lifted by news the economy rose 13.1 percent in the first quarter from a year ago while the government upgraded its forecast for growth to 7.0-9.0 percent, from a previous estimate of 4.5-6.5 percent.
Seoul closed 1.45 percent higher, rising 24.74 points to 1,735.33. The South Korean market also welcomed figures showing unemployment fell from 4.9 percent to 4.1 percent in March, its second successive drop. Manila ended flat, edging 0.21 points lower to 3,299.69. Top-traded Metropolitan Bank and Trust Co was unchanged at 51.50 pesos. SM Investments Corp was down 0.62 percent to 397.50 pesos while Ayala Corp slipped 0.72 percent to 345 pesos.
Jakarta was flat, adding 0.31 points to 2,885.01. Tin miner Timah jumped 6.7 percent to 2,800 rupiah, while plantation company Tunas Baru Lampung rose 3.3 percent to 470 rupiah. Kuala Lumpur rose 0.10 percent, or 1.37 points, to 1,335.89. Dealers said gains were led by technology stocks, with chip firm Unisem up 4.0 percent to 3.12 ringgit, while glove-maker Supermax added 5.10 percent to 6.98 but satellite operator Measat lost 7.10 percent to 3.28.
Wellington rose 0.77 percent, or 25.58 points, to 3,335.51. The market is at its highest since September 15, 2008, when the collapse of Wall Street giant Lehman Brothers preceded the global financial crisis. Fletcher Building rose 2.1 percent to 8.45 New Zealand dollars and Telecom was up 1.8 percent at 2.24.
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