Asian stocks close unchanged as investors remain cautious<\/p>\n
SINGAPORE (AFP): Asian stock markets moved in a narrow range
\nand most ended barely changed in thin trade on Thursday as
\ninvestors maintained caution, dealers said.<\/p>\n
Singapore was the biggest gainer, rising 1.2 percent, and
\nBangkok posted the largest decline of 1.3 percent.<\/p>\n
Tokyo rose 0.1 percent, Hong Kong and Taipei each fell 0.1
\npercent, Sydney closed down 0.2 percent, and Kuala Lumpur gained
\n0.7 percent. Jakarta fell 0.4 percent, Manila ended down 0.6
\npercent and Seoul retreated 0.4 percent.<\/p>\n
Economic worries kept most investors on the sidelines, with an
\novernight dip on Wall Street dampening sentiment further.<\/p>\n
In Singapore, share prices firmed on the back of rumors of
\ninterest rate cuts which propped up property counters, dealers
\nsaid.<\/p>\n
\"There were pretty strong rumors about rate cuts in Singapore,
\nso the market which had been weak in recent days just shot up,
\nwith mostly property stocks rising,\" a dealer with a local stock
\nbrokerage said.<\/p>\n
The benchmark Straits Times Index rose 17.60 points to close
\nat 1,433.41 while the broader All-Singapore index was up 1.98
\npoints to 386.93.<\/p>\n
In Tokyo, share prices firmed 0.1 percent with market players
\nstaying cautious despite the weak yen, brokers said.<\/p>\n
The day's rise \"was dull, considering the yen's drop,\" said
\nMasaaki Higashida, investment information deputy head at Nomura
\nSecurities Co. Ltd.<\/p>\n
\"Share prices could not escape from falls in New York and
\nselling by institutional investors,\" he said.<\/p>\n
The Nikkei stock average of 225 leading issues ended up 13.09
\npoints at 14,183.45 after holding to within an unusually narrow
\nrange from 14,224.73 to 14,121.02.<\/p>\n
In Jakarta, Indonesian share prices closed mixed amid profit-
\ntaking in select large caps, including cigarette and
\ntelecommunications stocks, dealers said.<\/p>\n
Vicker Ballas Tamara institutional sales representative Iwan
\nSanyoto said the index was likely to move in a narrow range in
\nthe next few weeks, continuing the trend in the past two weeks.<\/p>\n
\"It has been the case in previous two weeks that there is no
\nliquidity in the market. In this situation you won't see the
\nindex moving up or down significantly,\" he said.<\/p>\n
The Jakarta Stock Exchange composite index closed down 1.653
\npoints at 394.154.<\/p>\n
In Hong Kong, stocks closed down 0.1 percent, with the blue
\nchip Hang Seng Index ending the day off 9.64 points at 9,912.76.<\/p>\n
In Sydney, share prices closed down only marginally, with the
\nAll Industrials index closing down 7.1 points a 5,232.3.<\/p>\n
In Kuala Lumpur, Malaysian share prices closed 0.7 percent
\nhigher on a mild technical rebound, with the Kuala Lumpur Stock
\nExchange's composite index rising 3.36 points to finish at
\n516.59, off an earlier high of 521.53 points.<\/p>\n
In Bangkok, Thai share prices fell 1.3 percent in light trade,
\nwith the Stock Exchange of Thailand (SET) composite index
\ndropping 4.37 points to close at 337.14 points, off a high of
\n342.36.<\/p>\n
In Manila, Philippines share prices lost 0.6 percent, with the
\nPhilippine Stock Exchange composite index closing 11.24 points
\nlower at 1,997.68.<\/p>\n
In Seoul, South Korean share prices edged down 0.4 percent in
\nvolatile trade, with the composite index closing down 2.20 points
\nat 532.29.<\/p>\n
In Taipei, Taiwan stocks fell 0.1 percent, with the benchmark
\nTaiwan Stock Exchange weighted price index slipping 9.40 points
\nto 6,393.74, following a 2.2-percent rise in the previous
\nsession.<\/p>\n
In Shanghai, B-share index gained 0.21 points to close at
\n22.94 points, while the A-share index of locally traded stocks
\nedged up 0.14 points, or 0.01 percent,to 1,202.93 points.<\/p>\n
In Auckland, New Zealand shares closed 0.3 percent higher. The
\nNZSE-40 index rose 6.01 points to close at 2,163.79.<\/p>",
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