Asia-Pacific share prices flounder on RI uncertainty<\/p>\n
HONG KONG (AFP): Most Asian share prices floundered yesterday
\non a lack of incentives and persistent uncertainty over
\nIndonesia's economic policy following the election of President
\nSoeharto to a seventh five-year term, analysts said.<\/p>\n
Most regional markets waivered between slight gains and less
\nthan 1 percent daily losses with the exception of Hong Kong,
\nwhich lost nearly 2 percent, and Kuala Lumpur, down 1.6 percent.<\/p>\n
Hong Kong's key Hang Seng index closed down 216.38 points at
\n10,902.47, off a high of 11,229.84 and a low of 10,827.31, on
\nturnover of HK$5.81 billion (US$750 million).<\/p>\n
In Tokyo, Japanese share prices tumbled 1.1 percent for the
\nsecond straight day, amid concerns about corporate earnings and a
\nbribery scandal at the central bank, brokers said.<\/p>\n
Futures-led selling depressed the market while most investors
\nwere sidelined ahead of Friday's special quotation to settle
\nMarch options and futures contracts, brokers said.<\/p>\n
The Nikkei Stock Average of 225 leading issues on the Tokyo
\nStock Exchange fell 180.92 points to end at 16,575.22, following
\na 1.4 percent decline the previous day. The Topix index of all
\nissues on the first section was down 11. 40 points at 1,249.71.<\/p>\n
In Australia, share prices edged 0.2 percent higher in quiet
\nfutures-led trading, brokers said.<\/p>\n
The Australian Stock Exchange's main indicator, the All
\nOrdinaries index, gained 4.7 points to close at 2,719.5. The All
\nIndustrials index rose 17.5 points to 4,675.2, while the All
\nResources index closed 6.8 points down at 1, 157.6.<\/p>\n
In Singapore, Singapore share prices ended marginally higher
\nas investors remained sidelined pending further developments in
\nIndonesia and the local corporate scene.<\/p>\n
"There hasn't really been any news, it has been very, very
\nquiet," said a dealer with a Japanese brokerage who noted that a
\nbroad-based buy program by Merrill Lynch helped blue chips
\nhigher, especially bank and property stocks.<\/p>\n
The Straits Times Industrials index rose 3.00 points to close
\nat 1,580.84. The broader All-Singapore index ended 6.72 points
\nhigher at 421.25.<\/p>\n
In Kuala Lumpur, Malaysia's key stock index closed 1.6 percent
\nlower in thin trade amid lack of fresh leads and in tandem with
\nother major regional bourses.<\/p>\n
The Kuala Lumpur Stock Exchange's 100-share weighted composite
\nindex ended at 698.23, down 11.68 points from Wednesday's close
\nbut the lesser second board index closed at 179.11, up 0.65
\npoints, or 0.36 percent.<\/p>\n
In Bangkok, Thai shares closed 0.8 percent weaker despite the
\nstronger baht and early speculative buying in the finance sector,
\nanalysts said.<\/p>\n
The Stock Exchange of Thailand (SET) composite index shed 4.12
\npoints to finish at 498.67, while the SET 50 index fell 0.4
\npoints to 36.97.<\/p>\n
In Manila, Philippine share prices closed 0.5 percent lower in
\nsideways trade as investors took to the sidelines amid the
\nimpasse between Indonesia and the IMF, brokers said.<\/p>\n
The Philippine Stock Exchange index shed 11.92 points to
\n2,176.50.<\/p>\n
In Seoul, share prices closed 0.9 percent higher on the Korea
\nStock Exchange, with local investors heartened by President Kim
\nDae-jung's reconfirmation that hostile foreign takeovers would be
\nallowed, dealers said.<\/p>\n
The composite index closed up 4.79 points at 535.84.<\/p>\n
In Shanghai, the B share index lost 0.48 points to close at
\n55.08 points, while the A share index of locally-traded stocks
\nended down 11. 68 points, or 0.9 percent, at 1,242.67 points.<\/p>\n
In Taipei, Taiwan stocks rose 0.3 percent as investors
\nswitched their sights from the high-technology sector to
\nconstruction and non-technology issues, brokers said.<\/p>\n
The Taiwan Stock Exchange weighted price index rose 25.82
\npoints to 9,096. 37.<\/p>\n
In New Zealand, stocks rose 0.9 percent led by Telecom Corp.
\namid strong demand internationally for phone shares.<\/p>\n
The NZSE-40 was up 19.73 to 2,268.75 points.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/asia-pacific-share-prices-flounder-on-ri-uncertainty-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }