Asian stocks drift in marginal trading<\/p>\n
SINGAPORE (Reuters): Asian stocks drifted on Tuesday in
\ngenerally light trading, with Tokyo dipping a touch while Hong
\nKong and Australia managed marginal rises.<\/p>\n
Tokyo's benchmark Nikkei average of 225 shares fell 0.3
\npercent to 17,708.<\/p>\n
In Southeast Asia, the rapidly deteriorating situation in East
\nTimor, where Indonesian authorities declared martial law early on
\nTuesday, weighed on market sentiment.<\/p>\n
Many investors in Tokyo also remained on the sidelines ahead
\nof Thursday's gross domestic product data, which is being watched
\nfor signs of whether the recession-hit Japanese economy has
\nreally started a recovery trend.<\/p>\n
Traders said sentiment remained bullish on the yen but the
\nmarket was concerned about risks surrounding the GDP data, given
\nthat the Bank of Japan had intervened following the previous
\nrelease in June.<\/p>\n
The dollar rose to one-week highs above 111 yen in London, up
\nnearly 1.5 percent from its Asian lows amid speculation that
\nJapan's GDP report will be weaker than expected.<\/p>\n
Hong Kong stocks ended barely moved and well off their highs
\nafter investors decided to lock in profits from the previous day.
\nThe Hang Seng Index closed up 0.08 percent at 13,396.<\/p>\n
\"Index futures have traded at a premium to the spot index
\nwhich indicates there is real buying interest on hopes for good
\nnews about China entering the World Trade Organization,\" said
\nPercy Au-Young, sales director at DBS Securities.<\/p>\n
Australian stocks closed mixed as investors awaited the
\nreopening of U.S. markets after the Labor Day holiday. The All
\nOrdinaries index edged 0.1 percent up to 2,993.6.<\/p>\n
Taiwan posted the biggest percentage loss. Brisk profit-taking
\non Taiwan technology stocks wiped out the market's early gains
\nand dragged the index below 8,000 points despite a better than
\nexpected performance in Taiwan's August exports.<\/p>\n
The TAIEX ended at 7,945.76, down 2.3 percent.<\/p>\n
In Seoul, buying in some core blue chips pushed the Korea
\nComposite Stock Price Index up 0.1 percent to 943.92.
\nThe Straits Times Index (STI) finished just 0.3 percent up at
\n2,105.42 after initial losses.<\/p>\n
\"It's not a very inspiring day. People tend to stay on the
\nsidelines, waiting for a clearer picture on the development in
\nEast Timor,\" a Singapore broker said.<\/p>\n
Jakarta stocks recovered form initial losses which were
\ntriggered by mounting concerns over possible international action
\nagainst Indonesia for its failure to quell escalating violence in
\nEast Timor.<\/p>\n
The key composite index rose 0.9 percent at 545.35, but the
\nrupiah came under attack again and was quoted at 8,250\/8,300
\nversus 8,050\/8,100 late Monday.<\/p>\n
Dealers said market concerns also remain on the lingering
\nscandal surrounding PT Bank Bali Tbk<\/p>\n
Trading in Malaysia was dull, with investors expressing some
\ndisappointment at Malaysia's weaker-than-expected industrial
\nproduction data for July. The Kuala Lumpur Composite Index ended
\ndown 0.04 points at 752.74.<\/p>\n
Thai stocks were slightly firmer despite some retail selling
\nof banks and finance. The composite SET index closed up 0.6
\npercent at 426.75.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asian-stocks-drift-in-marginal-trading-1447893297",
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