(MENAFN- Gulf Times) Asian markets advanced yesterday following a record close on Wall Street, while Greece's leadership said it was confident it could hammer out a new debt deal with European creditors.
Japanese shares ended above 18,000 for the first time in more than seven years, supported by data showing the economy had exited recession.
Tokyo rose 0.51%, or 91.41 points, to finish at 18,004.77 € the first time it has been above the psychologically key level since July 2007.
Sydney added 0.19%, or 11.2 points, to 5,888.7 and Seoul was marginally higher, tacking on 0.73 points to 1,958.23. Shanghai climbed 0.58%, or 18.53 points, to 3,222.36 and Hong Kong added 0.18%, or 43.99 points to 24,726.53.
In other markets, Wellington fell 0.49%, or 28.30 points, to 5,758.25; Contact Energy tumbled 8.96% to NZ$6.30 after a disappointing earnings report, while Trade Me slipped 0.54% to NZ$3.67.
Manila gained 0.14%, or 11.20 points, to 7,784.65; Megaworld Corp rose 2.69% to 5.34 pesos and Philippine Long Distance Telephone Company fell 0.06% to 3,188 pesos.
Jakarta ended down 0.91%, or 48.67 points, to 5,325.495; lender Bank Rakyat Indonesia jumped 0.21% to 12,025 rupiah, while palm oil producer Astra Agro Lestari fell 2.34% to 25,000 rupiah.
Singapore ended flat, edging up 0.03%, or 0.94 points, to 3,427.16; public transport firm ComfortDelgro fell 1.37% to Sg$2.89 while DBS Bank gained 0.42% to Sg$19.36.
Kuala Lumpur gained 0.44%, or 7.94 points, to 1,808.89; Malayan Banking added 0.11% to 9.20 ringgit, while Sime Darby lost 0.84% to 9.50 ringgit.
Bangkok closed down 0.49%, or 7.85 points, to 1,608.04; telecoms company Advanced Info Service dropped 2.02% to 243baht, while Siam Cement gained 2.41% to 510baht.
Regional investors were given a strong lead from New York Friday, where the S&P 500 ended at a new record high following data showing Germany's economy expanded more than expected in the final three months of 2014.
The S&P 500 rose 0.41%, while the Dow added 0.26% to break 18,000 for the first time this year. The Nasdaq advanced 0.75%.
Japan's Nikkei was also boosted by news the economy grew 0.6%-or an annualised rate of 2.2%-in the three months to December.
While the rate was slower than the 0.9% expected, it comes after the world's third-largest economy had contracted for a second straight quarter in July-September.
"Even though it missed estimates, the figures are positive which means at least the direction of the recovery is right," Ayako Sera, a markets strategist at Sumitomo Mitsui Trust Bank in Tokyo, told Bloomberg News.
"I would say the data today is mixed. People haven't completely lost hope on growth."
On currency markets the dollar fetched ¥118.57, against ¥118.74 in New York.
The euro was at $1.1421 and ¥135.43 compared with $1.1393 and ¥135.29.
Oil prices turned lower after rallying Friday on optimism about falling US production.
US benchmark West Texas Intermediate for March delivery fell 28 cents to $52.50, while Brent for April fell 32 cents to $61.20 in afternoon trade. Gold fetched $1,233.33 an ounce, against $1,225.23 on Friday.
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