Asian stocks fall on profit taking<\/p>\n
HONG KONG (AFP): Asian stocks were lower in most of the
\nregion's markets following strong performances in the past week,
\nalthough an imminent agreement between Thailand the International
\nMonetary Fund boosted Thai shares.<\/p>\n
The key Hang Seng Index fell 119.63 points to close at
\n16,259.59, ahead of an announcement that market leader HSBC
\nHoldings Ltd. posted a better than expected 19 percent increase
\nin first half earnings.<\/p>\n
In Jakarta, share prices closed 0.4 percent lower Monday on a
\nlack of direction from the currency market, with volumes thin
\namid slow trade in blue chips, dealers said.<\/p>\n
\"Fund managers are looking at safe stocks: Telkom, Indosat,
\nthe big blue-chip stocks that won't be rocked too much, that have
\nless reason to be sold off,\" a dealer with a regional brokerage
\nsaid.<\/p>\n
The Jakarta Stock Exchange composite index closed down 3.063
\npoints at 718. 709.<\/p>\n
In Tokyo, the Japanese share prices closed 0.7 percent lower
\nMonday as foreign investors took profits on blue chips in the
\nabsence of buying interest, brokers said.<\/p>\n
The Nikkei Stock Average of 225 leading issues dropped 136.31
\npoints to finish at 19,668.07 while the Topix index of all issues
\non the first section of the Tokyo Stock Exchange was down 15.53
\npoints at 1,497.26.<\/p>\n
In Kuala Lumpur, Malaysia's key stock index fell 2.4 percent
\nMonday as investors sold bluechips to raise ringgit after the
\ncentral bank limited foreign access to the local currency.<\/p>\n
The Kuala Lumpur Stock Exchange's 100-share weighted composite
\nindex tumbled 24.07 points below its psychological level of
\n1,000, to 978.56 points. The lesser second board index shed 13.69
\npoints, or 2.5 percent, to 532.17.<\/p>\n
In Sydney, the Australian Stock Exchange's all ordinaries
\nindex shed 21.5 points to close at 2706.0<\/p>\n
In Singapore, blue-chip share prices closed 0.4 percent higher
\nMonday but caution prevailed in the market ahead of the company
\nresults reporting season.<\/p>\n
In Bangkok, the Stock Exchange of Thailand (SET) index was up
\n11.78 points at 663.82 points, while the SET-50 select index
\nadvanced 1.21 points to 50.43 points.<\/p>\n
In Seoul, the composite index closed the session up 3.76
\npoints at 734.19 on a volume of 25.8 million shares worth 395.1
\nbillion won (441 million dollars).<\/p>\n
In Shanghai, the exchange's B share index rose 0.59 points to
\nclose at 74.38 points while the A share index of domestically-
\ntraded shares rose 7.8 points, or 0.6 percent, to close at
\n1,256.27 points.<\/p>\n
In Auckland, the NZSE-40 capital index was down 15.58 to
\n2,558.78 with Telecom Corp. down nine cents to $7.71.<\/p>",
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