Asian markets start year higher
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Thailand's market finished 2003 with the region's best gains.
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(CNN) -- Markets in Asia are beginning the new year in the black, with Taiwan posting the best gains at midday Friday.
Stocks in South Korea, Hong Kong and Singapore are also higher, while Australia is virtually flat.
The region's biggest market, Japan, is closed Friday and resumes trading on Monday.
Taiwan's Taiex is about 1.4 percent higher to 5973.10, lifted by strong gains for chip foundry UMC and its larger rival TSMC.
In Hong Kong, the Hang Seng has begun the year with an early gain of about 1 percent to 12,706, as property stocks lift on greater optimism among investors.
SHK Properties and Henderson Land are both about 1.5 eprcent ahead.
Singapore's Straits Times is about 0.8 percent ahead to 1779.73. Big bank DBS, Singapore Airlines and SingTel are all higher.
Preliminary data released Friday shows Singapore's economy grew about 0.8 percent in 2003. Gross domestic product grew at an annualized rate of 7.9 percent in the fourth quarter. (Full story)
In South Korea, the Kospi is up about 0.74 percent to 816.72, helped by big exporter Hyundai Motor. It is 3.7 percent higher to 52,400 won.
SK Telecom is 2.5 percent ahead to 204,000 won.
In Australia, the S&P/ASX200 is up just 0.03 percent to 3300.9.
Market heavyweight News Corp is doing well, up 1.9 percent to A$12.22. But resources leader BHP Billiton is in the red, as is big bank NAB.
Gas supplier Santos is down 2.6 percent to A$6.68 after a leak and subsequent fire at its Moomba plant. The fire also forced steel maker OneSteel to shut down its Whyalla steelworks due to gas supply problems.
Asian markets are resuming Friday after the region's best performance for four years, with only China's Shanghai B-shares posting a loss for 2003. (Full story)
Top honors in the region went to Bangkok's SET composite index, which put on a massive 117.3 percent for the year as confidence returned among investors.
India grabbed second spot, the BSE-30 in Mumbai finishing with a gain of 73 percent to 5838.96, within sight of its February 2000 record close of 6150.
Last year's star performer, Pakistan's KSE-100, jumped another 65 percent to finish at 4471.60. Close behind was Indonesia's Jakarta composite, which rose 62.8 percent to end the year at 691.895.
Despite touching a 20-year low of just 7607.88 in April, Japan's Nikkei 225 average ended the year at 10,676.64, up 24.5 percent to post its first gain since 1999.
Hong Kong and Singapore also finished in the black for the first time in four years, with gains of almost 35 percent for the Hang Seng index and 31.6 percent for the Straits Times index. Australia rose about 10 percent.
