HK-related stocks fall on weak Asia-Pacific bourses<\/p>\n
SINGAPORE (AFP): Hong Kong-related shares eased in Singapore
\nand Tokyo yesterday as major Asia--Pacific bourses fell with
\ninvestors locking away profits in lackluster trade, brokers said.<\/p>\n
Dealers said trading eased considerably as a "red chip fever"
\non mainland controlled stocks died out with the resumption of
\nChinese sovereignty over the territory at midnight (1600 GMT)
\nMonday.<\/p>\n
"The handover is over, so is the "red-chip fever" for now," a
\ndealer with a foreign brokerage in Singapore said as the Hong
\nKong market was closed for a holiday with trade due to resume
\nThursday.<\/p>\n
Tianjin Zhong Xin Pharmaceuticals Group, the first Chinese
\nfirm to seek a primary listing in Singapore, topped the turnover
\nin Singapore with 13.34 million shares changing hands.<\/p>\n
In Tokyo, shares in Henderson Land Development Co. Ltd., the
\nonly Hong Kong company listed on the Tokyo Stock Exchange,
\ndeclined nine yen to 991 yen.<\/p>\n
Singapore blue-chip share prices eased 0.3 percent in thin
\ntrade on a lack of institutional funds.<\/p>\n
The Straits Times Industrials index of leading shares on the
\nStock Exchange of Singapore (SES) lost 6.67 points to 1,981.28.<\/p>\n
The broader All-Singapore index gained 2.69 points to 494.00.<\/p>\n
Elsewhere in the Asia-Pacific region, where markets in Hong
\nKong, Shanghai, Taipei and Bangkok were closed for holidays:<\/p>\n
In Jakarta, share prices rose 1.0 percent to their second
\nconsecutive record close amid confidence in the country's
\neconomy, dealers said.<\/p>\n
The Jakarta Stock Exchange composite index closed up 7.063
\npoints at 731. 619.<\/p>\n
In Tokyo, share prices closed 2.1 percent lower, with the
\nNikkei stock average depressed by profit-taking and futures-led
\ndeclines, brokers said.<\/p>\n
The leading barometer of the Tokyo Stock Exchange fell 429.44
\npoints to finish the session at 20,175.52 while the broader Topix
\nindex of all shares on the first section closed 24.43 points
\nlower at 1,529.38.<\/p>\n
In Sydney, shares eased 0.2 percent as negative waves from
\nWall Street combined with a measure of profit-taking to give the
\nmarket a sedate start to the new financial year, brokers said.<\/p>\n
The Australian Stock Exchange's key all ordinaries index ended
\n4.7 points lower at 2,721.2.<\/p>\n
In Kuala Lumpur, key stock index ended 0.1 percent higher as
\nlate buying of selected blue chips reversed earlier falls.<\/p>\n
The Kuala Lumpur Stock Exchange 100-share weighted composite
\nindex rose 1. 60 points to 1,078.90. The lesser second board
\nindex gained 0.18 point to 562.84.<\/p>\n
In Seoul, share prices closed 1.7 percent higher on the Korea
\nStock Exchange as investors bought actively after the country
\nposted the first trade surplus in 30 months, dealers said.<\/p>\n
The composite index closed 12.63 points higher at 758.03.<\/p>\n
In Manila, share prices rose 0.2 percent on late buying by
\ninvestors.<\/p>\n
The Philippine Stock Exchange index closed 6.33 points firmer
\nat 2,815.54.<\/p>\n
In Wellington, stocks eased 0.5 percent in a consolidation of
\nthe previous day's strong gains, brokers said.<\/p>\n
The benchmark New Zealand Stock Exchange-40 capital index
\nclosed down 11. 10 points at 2,490.86.<\/p>",
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