Asia-Pacific stock markets end mixed<\/p>\n
SINGAPORE (AFP): Asia-Pacific stock markets ended mixed
\nyesterday as wary investors treaded with caution over Indonesia's
\nstandoff with the IMF amid the reappointment of President
\nSoeharto to a seventh term.<\/p>\n
Singapore, Tokyo, Kuala Lumpur, Sydney and Seoul were among
\nthe gainers. Hong Kong, Bangkok and Manila ended in negative
\nterritory.<\/p>\n
The standoff caused by the International Monetary Fund's
\nannouncement Friday that it would withhold crucial bailout funds
\nfor Indonesia deepened, with the World Bank and the Asian
\nDevelopment Bank following suit Monday.<\/p>\n
The Bank and the ADB said they would not disburse rescue funds
\nuntil Indonesia adopted reforms spelled out by the IMF-led
\nbailout package worth some US$40 billion including dismantling of
\nmonopolies and restructuring of the banking sector.<\/p>\n
Some investors were still optimistic that a solution could be
\nfound and that the newly reelected Indonesian president would
\ncompromise.<\/p>\n
In Singapore, shares rose 0.5 percent amid such optimism.
\n"Sentiment was more positive today. There is increasing optimism
\nIndonesia will pursue reform to get IMF aid," a dealer with a
\nlocal brokerage said.<\/p>\n
The Straits Times Industrials index rose 7.39 points to
\n1,546.05, off a high of 1,561.20. The broadly based All-Singapore
\nindex rose 3.58 points to 408.76.<\/p>\n
In Tokyo, Japanese share prices closed slightly higher in
\nrange-bound trading on bargain-hunting in selected electricals
\nand steels, brokers said.<\/p>\n
The key Nikkei stock average of 225 select issues rose 10.29
\npoints to end at 16,982.82 on the Tokyo Stock Exchange, but the
\nbroader Topix index of all first-section issues edged down 1.71
\npoints at 1,275.10.<\/p>\n
In Hong Kong, share prices ended down 0.9 percent in thin
\ntrade on regional concerns and a lack of fresh leads, with the
\nIndonesian economic and political situation staying in focus,
\ndealers said.<\/p>\n
The key Hang Seng index closed down 95.92 points at 10,898.57,
\noff an early high of 11,093.61, on turnover of 4.95 billion Hong
\nKong dollars (640 million US).<\/p>\n
In Kuala Lumpur, Malaysia's key stock index closed 3.6 percent
\nhigher in moderate trade due to a firmer ringgit.<\/p>\n
The Kuala Lumpur Stock Exchange's 100-share weighted composite
\nindex ended at 710.47 points, up 24.59 points from Monday's close
\nwhile the lesser second board rose 10.6 points, or 6.1 percent,
\nto 184.19.<\/p>\n
In Australia, the Australian Stock Exchange's key barometer,
\nthe All Ordinaries index, rose 12.2 points to 2,692.9, after
\nhaving moved above 2,700 points during the day.<\/p>\n
In Bangkok, Thai share prices slipped 0.3 percent as investors
\nwere sidelined amid doubts about the direction of regional
\ncurrencies, analysts said.<\/p>\n
The Stock Exchange of Thailand (SET) composite index dropped
\n1.43 points to finish at 508.55, while the SET 50 selected index
\ndrifted 0.04 points lower to 37.94.<\/p>\n
In Manila, Philippine share prices closed 1.9 percent lower
\ndue to concerns over possible instability in the region's
\ncurrencies.<\/p>\n
The Philippine Stock Exchange composite index fell 40.5 points
\nto 2,134.91 points.<\/p>\n
In Seoul, share prices closed 3.5 percent higher on the Korea
\nStock Exchange as investors intensified bargain-hunting in late
\ntrade and selling pressure in the futures market eased, dealers
\nsaid.<\/p>\n
The composite index closed up 17.85 points at 525.56.<\/p>\n
In Taipei, Taiwan stocks edged up 0.1 percent with most buyers
\nsidelined amid market consolidation, brokers said.<\/p>\n
The Taiwan Stock Exchange weighted price index rose 9.91
\npoints to 8,897. 27.<\/p>\n
In Shanghai, the B shares, nominally reserved for foreign
\ninvestors, rose 2.1 percent as retail investors turned optimistic
\nof the stocks' upside potential, analysts said.<\/p>\n
The Shanghai Stock Exchange's B share index rose 1.13 points
\nto close at 55.92 points while the A share index of locally-
\ntraded stocks ended down 1.6 points, or 0.1 percent, at 1,264.72
\npoints.<\/p>\n
In New Zealand, stocks fell 0.7 percent but volumes in some
\nmarket leaders were boosted in late trade.
\nT he NZSE-40 index was down 15.25 to 2,230.93 points on turnover
\nof NZ$78.5 million (US$45.2 million).<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asia-pacific-stock-markets-end-mixed-1447893297",
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