[R][7:30 AM Hong Kong and Singapore Lead Markets up.[/R]
Asian markets finished higher. South Korea’s Kospi advanced 1.2% to 1451.53 at midday on strong banking news from Kookmin Bank, which hit an all-time high before ending the day 0.8% lower. Kospi finished flat at 1435.17. Hyundai ended 1.23% lower despite 2.5% sales growth. Hong Kong’s Hang Seng closed higher. Hong Kong-listed China shares finished up 1.32% to 7,100.88. HSBC Holdings advanced as much as 1.3%, after hitting record highs earlier in the session. China Unicom rose 5.6% to a two-year high. Blue-chip property developer Sino Land advanced 4.9%. In Taiwan, shares finished at a new five-and-a-half-year high following the rise of food, paper, cement and construction shares. Australia''s All Ordinaries index also closed flat, edging 0.02% down to 5,221.6, after the central bank announced its was raising interest rates 25 basis points to 5.75%. Crude oil for June delivery advanced 30 cents to $74.91 a barrel in Asian trading. Hong Kong blue-chip Hang Lung Properties rose 2%, China’s PetroChina, the country’s biggest petroleum company advanced 2.3% on energy prices. The yen advanced slightly against the dollar to 113.47 yen vs. dollar, up from 113.26 yen vs. dollar on Tuesday.