Asian stocks end mixed as foreign buying continues<\/p>\n
SINGAPORE (AFP): Asian stock markets ended mixed Wednesday
\nwith some extending their gains on steady inflows of foreign
\nfunds and others pulling back after an overnight fall on Wall
\nStreet.<\/p>\n
The Dow Jones Industrial Average, the barometer of US blue-
\nchip stocks, fell 128.58 points (1.2 percent) to 10.886,11 points
\nTuesday, slipping from its record close above 11,000 points
\nMonday.<\/p>\n
With Tokyo, Bangkok and Seoul closed for a holiday, Singapore
\nrose 1.7 percent, Kuala Lumpur firmed 1.8 percent to hit its
\nhighest level in 13 months, and Hong Kong edged up for its fifth
\nstraight gain.<\/p>\n
Indonesian share prices jumped 2.6 percent and Shanghai ended
\n2.9 percent higher.<\/p>\n
But Australian, New Zealand and Taiwan shares eased on Wall
\nStreet blues and the Philippine market ended lower on profit-
\ntaking.<\/p>\n
Most Asian stock markets have performed strongly in recent
\nweeks in a rally fueled by signs that sick regional economies are
\nbeginning to heal, and a spillover of liquidity from U.S. and
\nEuropean markets.<\/p>\n
Financial and property counters led Wednesday's market gains.<\/p>\n
In Singapore, the benchmark Straits Times index rose 33.28
\npoints to end at 1,965.18 while the broader All-Singapore index
\nwas up 8.89 points to 539.14.<\/p>\n
"There are still strong liquidity flows, there is no real sign
\nof it letting up yet," a dealer with a local brokerage said.<\/p>\n
In Jakarta, Indonesian share prices jumped 2.6 percent led by
\nbanks on speculation that more foreign banks are set to buy into
\nlocal institutions, dealers said.<\/p>\n
A dealer at a Singapore brokerage firm said active trade in
\nthe banking sector reflected a belief the government will need to
\nbring in foreign banks to help it carry out its recapitalization
\nprogram.<\/p>\n
"The market is now speculating that after Standard Chartered
\nand ANZ Bank, there will many more foreign banks interested in
\nbuying local banks.<\/p>\n
Britain's Standard Chartered bank has agreed to acquire
\ncontrol of Indonesia's Bank Bali. The joint-venture ANZ Panin
\nBank has won a bid to acquire the defunct PT Bank Papan
\nSejahtera's credit card division.<\/p>\n
The Jakarta Stock Exchange composite index closed up 15.59
\npoints at 563.84.<\/p>\n
In Hong Kong, share prices edged up 0.2 percent to post their
\nfifth consecutive gain. The key Hang Seng index rose 26.52 points
\nto close at 13,586.21.<\/p>\n
In Kuala Lumpur, Malaysia's key stock index soared 1.8 percent
\nto breach the 700-point psychological barrier on the back of
\nlocal and foreign buying, dealers said.<\/p>\n
The Kuala Lumpur Stock Exchange composite index rose 12.31
\npoints to finish at 710.59, the highest level since April last
\nyear.<\/p>\n
In Sydney, Australian share prices slumped 1.4 percent as
\nprofit taking. The Australian Stock Exchange's key All Ordinaries
\nindex ended 42.4 points lower at 3,041.7.<\/p>\n
In Manila, Philippine share prices closed 0.7 percent lower on
\nprofit-taking as the release of data showing lower inflation in
\nApril failed to cheer investors, analysts said.<\/p>\n
The Philippine Stock Exchange composite index fell 17.17
\npoints to finish at 2,447.67.<\/p>\n
In Taipei, Taiwan share prices slipped 0.2 percent as
\ninvestors locked away profits from the previous day's strong
\ngains, analysts said.<\/p>\n
The Taiwan Stock Exchange weighted index lost 15.88 points to
\n7,572.16.<\/p>\n
In Shanghai, B-share index, which tracks shares nominally
\nreserved for foreigners, closed 0.78 points higher at 28.08. The
\nA-share index of locally traded stocks rose 5.24 points, or 0.4
\npercent, to 1,187.90.<\/p>\n
In Auckland, New Zealand shares fell 1.4 percent due to a
\npullback on Wall Street, dealers said.<\/p>\n
The NZSE-40 was down 32.58 points to 2,234.32.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/asian-stocks-end-mixed-as-foreign-buying-continues-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }