Asian stocks end mixed as Tokyo shares rise 1.9%<\/p>\n
TOKYO (AFP): Tokyo shares rose 1.9 percent Wednesday on
\nexpectations of massive government spending to lift the real-
\nestate sector as Asian stock markets ended mixed.<\/p>\n
After a modest rise overnight on Wall Street, Hong Kong gained
\n0.2 percent, Singapore ended barely higher, Sydney rose 0.6
\npercent and Auckland was up 1.1 percent.<\/p>\n
Bangkok advanced 2.2 percent and Manila ended 2.0 percent
\nhigher but Taipei slipped 0.5 percent, Shanghai tumbled 3.5
\npercent to a historic low and Seoul inched down. Jakarta and
\nKuala Lumpur were closed for Moslem holidays.<\/p>\n
In Tokyo, brokers attributed strong buying to a British
\nnewspaper report the ruling Liberal Democratic Party was
\nconsidering spending 20 trillion yen (US$175 billion) to
\nstimulate the property market.<\/p>\n
\"Real estate and bank issues attracted buying,\" said Mayumi
\nAraki, equity department manager at Daiwa Securities Co. Ltd.<\/p>\n
The key Nikkei 225 index gained 257.61 points to finish at
\n14,028.05 points while the broader Topix index of all first-
\nsection issues went up 15.27 points to 1,090.07.<\/p>\n
In Hong Kong, stocks ended 0.2 percent higher in listless
\ntrading as investors adopted a cautious stance, dealers said.<\/p>\n
The blue-chip Hang Seng Index closed up 24.8 points at
\n10,314.91.<\/p>\n
In Singapore, share prices closed barely higher after the
\nrelease of trade data revealing a worse-than-expected fall in
\nvital non-oil domestic exports.<\/p>\n
The Stock Exchange of Singapore's benchmark Straits Times
\nIndex rose 1.17 points to 1,548.27, off a high of 1,565.47. The
\nbroader All-Singapore index fell by 0.44 of a point to 412.38.<\/p>\n
In Sydney, Australian share prices closed up 0.6 percent,
\nrebounding from initial losses as the market tracked Wall
\nStreet's performance, brokers said.<\/p>\n
The Australian Stock Exchange's main indicator, the All
\nOrdinaries index, closed up 16.9 points at 2,872.7.<\/p>\n
In Bangkok, Thai stocks climbed 2.2 percent on improved
\nsentiment overseas and speculative buying in bank stocks,
\nanalysts said.<\/p>\n
The Stock Exchange of Thailand (SET) composite index rose 8.4
\npoints to close at 394.85 points, and the SET 50 index added 0.60
\npoint to 29.18.<\/p>\n
In Manila, Philippine share prices closed two percent higher
\nas investors cheered the central bank's decision to lower key
\ninterest rates.<\/p>\n
The Philippine Stock Exchange composite index rose 42.55
\npoints to close at 2,146.39.<\/p>\n
In Seoul, South Korean shares inched down with early gains
\noffset by profit-taking, dealers said.<\/p>\n
The Korea Stock Exchange index closed down 4.69 points at
\n613.43, off a low of 611.74.<\/p>\n
In Taipei, Taiwan share prices fell for a third straight day,
\nslipping 0.5 percent as investors took to the sidelines amid
\nuncertainties over the market's outlook, analysts said.<\/p>\n
The Taiwan Stock Exchange weighted price index fell 32.65
\npoints 6,310.71, following a 0.5-percent decline in the previous
\nsession.<\/p>\n
In Shanghai, B shares, nominally reserved for foreign
\ninvestors, plummeted 3.5 percent to hit record lows on strong
\nforeign and domestic selling, dealers said.<\/p>\n
The Shanghai Stock Exchange's B-share index fell 0.94 points
\nto close at 25.85 points -- below the previous historic low close
\nof 26.24 points set on August 12 last year.<\/p>\n
The A-share index of locally traded stocks declined 7.32
\npoints, or 0.6 percent, to settle at 1,225.81 points.<\/p>\n
In Auckland, New Zealand share prices rose 1.1-percent on
\nheavy volume, continuing a rally that saw the market barometer
\nhit an eight-month high the previous day.<\/p>\n
The NZSE-40 capital index closed up 24.92 points at 2,219.62
\non strong turnover worth 159.8 million NZ dollars (US$84.3
\nmillion). Rises outnumbered falls 59 to 31 among the 144 traded.<\/p>",
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