Indonesian stocks seen moving slightly higher this week<\/p>\n
Agence France-Presse
\nJakarta<\/p>\n
Indonesia's stock market is expected to continue its rise this
\nweek after climbing 1.87 percent in the past week, an analyst
\nsaid on Friday.<\/p>\n
\"For this week, we anticipate the market to go up slightly due
\nto attractive prices of some blue chip stocks,\" said BNI
\nSecurities analyst Norico Gaman.<\/p>\n
The Jakarta Stock Exchange composite index closed on Friday at
\n773.140, up 14.216 points or 1.87 percent on the previous Friday.<\/p>\n
Average daily volume was 1.72 billion shares worth Rp 808.2
\nbillion (US$96.2 million) compared with 2.41 billion shares worth
\nRp 1.1 trillion the previous week.<\/p>\n
Gaman said the index would undergo a minor correction some
\ntime this week but the prices of blue chips like Indofood,
\nUnilever, Telkom, Gudang Garam and Sampoerna remain attractive
\nfor investors.<\/p>\n
He said investors are also interested in Bank Mandiri and Bank
\nRakyat Indonesia.<\/p>\n
Elsewhere in Tokyo, Japanese stocks are seen rallying this
\nweek after a month-long correction on expectations of positive
\neconomic growth data, brokers said on Friday.<\/p>\n
\"Share prices will basically consolidate, beginning to become
\nfirm in tone,\" said Nikko Cordial Securities equity marketing
\nmanager Hiroichi Nishi. \"From a technical viewpoint, the market
\nhas shifted into a buying zone.\"<\/p>\n
He said it had been nearly four weeks since the key Nikkei
\naverage of 225 leading issues on the Tokyo Stock Exchange peaked
\nat 11,103 on Jan. 20.<\/p>\n
Recent major corrections lasted about five weeks each time --
\nfrom July to August and from October to November. \"It will be the
\nfifth week next week and prices may very well come back,\" Nishi
\nsaid.<\/p>\n
The Nikkei-225 index finished the week at 10,557.69, up 96.77
\npoints or 0.93 percent from a week earlier, reversing a 2.99-
\npercent decline in the preceding week.<\/p>\n
The broader Topix index of all shares on the exchange's first
\nsection closed at 1,041.03, up 12.2 points or 1.12 percent on the
\nweek.<\/p>\n
In Seoul, South Korean shares are likely to continue firmer
\ninto next week, although there has to be some minor correction at
\nleast after the market chalked up a seventh consecutive gain on
\nFriday to leave it within sight of 900 points, dealers said.<\/p>\n
The composite index rose for a seventh straight session on
\nFriday to close at a 21-month high of 882.18, up 0.5 percent on
\nthe day and up 3.8 percent over the week.<\/p>\n
In Hong Kong, stock market is expected to storm towards the
\n14,000 points mark this week on improving sentiment about the
\neconomy and key property sector, dealers said.<\/p>\n
Over the past week, the Hang Seng Index rose by 336.81 points
\nor 3.23 percent to close Friday at 13,739.80.<\/p>\n
In Singapore, shares are expected to trade in a tight range
\nthis week with most major company results for the December 2003
\nquarter already out, dealers said on Friday.<\/p>\n
A public holiday in the United States on Monday will also
\ndampen trading sentiment at the beginning of the week, they said.<\/p>\n
The Straits Times Index closed on Friday at 1,864.07 points,
\nup 9.66 points or 0.52 percent from the previous week.<\/p>\n
In Bangkok, Thai bourse is expected to build on a strong rally
\nand extend its gains this week, thanks to impressive earnings
\nfrom listed companies and the subsiding bird flu crisis, analysts
\nsaid.<\/p>\n
The Stock Exchange of Thailand (SET) composite index soared
\n44.03 points or 6.19 percent over the past week to close on
\nFriday at 755.18 points.<\/p>\n
In Kuala Lumpur, Malaysian stocks are likely to hold at
\ncurrent levels in rangebound trade with little incentive to drive
\nprices higher after surging 1.30 percent this week, analysts
\nsaid.<\/p>\n
The Kuala Lumpur Stock Exchange composite index rose 10.49
\npoints in the past week to close on Friday at 825.91.<\/p>",
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