Asian stock markets end higher led by resource stocks in Sydney (MarketWatch) (05-05-2008)

HONG KONG (MarketWatch) -- Asian markets advanced on Monday, led by stocks in Australia that extended gains on resource issues following a rebound in commodity prices, while Japanese and South Korean markets were closed for a holiday.

The S&P/ASX 200 index gained 0.7% to 5,741.10, on top of the 2.1% jump Friday, while New Zealand's NZX 50 index inched up 0.2% to 3,669.10.

In Sydney trading, shares of BHP climbed 2.8% and Rio Tinto advanced 1.8%, while Woodside Petroleum added 1.3%.

Crude-oil futures closed $3.80 higher at $116.32 a barrel while gold futures for June delivery advanced by $7.10 to $858 an ounce Friday on the New York Mercantile Exchange. Crude prices slipped as much as 20 cents to $116.12 a barrel and gold futures gained as much $5.20 to $863.20 an ounce in electronic trading Monday.

Source MarketWatch