Asian stocks rise on last trading day of 2011

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Asian stocks rise on last trading day of 2011

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Asian stock markets strengthened on the last trading day of the year Friday.

30 December,2011 08:10 am

Asian stock markets strengthened, following Wall Street higher on a spurt of positive U.S. economic data.Japans Nikkei 225 index, after three straight days of losses, rose 0.4 percent to 8,428.64. Hong Kongs Hang Seng Index gained 0.4 percent to 18,477.04. Benchmarks in mainland China, Taiwan, Malaysia and New Zealand were also higher.Australias S&P ASX 200 fell 0.1 percent to 4,065.40. Singapore also fell.On Wall Street, positive news on home sales and improved prospects for job growth sent stocks higher Thursday.The four-week average of unemployment claims fell to a 3 1/2 year low, an indication that hiring could pick up. And the number of Americans who signed contracts to buy homes in November rose to the highest level in 18 months, industry experts said.The Dow closed at 12,287.04, a gain of 1.1 percent. The S&P 500 rose 1.1 percent, to 1,263.02. The technology-heavy Nasdaq composite rose 0.9 percent to 2,613.74.