Jakarta's market to higher<\/p>\n
Agence France-Presse, Jakarta<\/p>\n
Indonesia's stock market, which rose 2.3 percent last week, is
\nlikely to strengthen further this week on third-quarter window-
\ndressing and attractive valuations in blue chips, analysts said
\non Friday.<\/p>\n
"The index is still strong enough to go up next week because
\nof window-dressing and attractive values of several blue chips,"
\nBNI Securities analyst Noriko Gaman said.<\/p>\n
The Jakarta Stock Exchange composite index ended on Friday at
\n672.292, up 15.552 points or 2.3 percent from the previous
\nFriday.<\/p>\n
Average daily volume was 1.72 billion shares valued at Rp 1.03
\nbillion (US$120.88 million) compared with 1.86 billion shares
\nvalued at Rp 883.14 billion the previous week.<\/p>\n
Gaman said several blue chips such as Telkom, cigarette maker
\nGudang Garam and Unilever would remain attractive for investors.<\/p>\n
Interasia Sekuritindo analyst Didi Kurniawan also said the
\nmarket should remain on an upward trend and possibly close the
\nyear within a range of 675-680.<\/p>\n
In Tokyo, the Japanese stock prices are expected to trade in a
\nnarrow range this week with investors likely to be on the
\nsidelines ahead of upcoming holidays.<\/p>\n
"The market will lack energy next week as players are expected
\nto avoid building up long-positions ahead of the Christmas and
\nNew Year's holidays," said Kiyoshi Saito, a broker at Cosmo
\nSecurities.<\/p>\n
"Foreign investors, who led this year's upturn on the Tokyo
\nmarket, have virtually closed up shop for the year," said Saito.<\/p>\n
For the week just ended, the Nikkei 225-index on the Tokyo
\nStock Exchange gained 114.88 points or 1.13 percent to end at
\n10,284.54, following a 1.96 percent decline the previous week.<\/p>\n
Dealers said they expect the benchmark index to trade between
\n10,000 and 10,500 next week. Financial markets in Tokyo will be
\nclosed on Tuesday for the Emperor's Birthday public holiday.<\/p>\n
In Seoul, South Korean shares will continue firmer this week
\non foreign interest driven by hopes for strong year-end corporate
\ndividends and a better economic outlook. The composite index,
\nlast week, rose 0.64 percent.<\/p>\n
In Hong Kong, stocks will see slow trade this week as
\ninvestors take a breather to digest gains on the recent flurry of
\ninitial public offerings (IPO) by mainland Chinese firms.
\nThe market lost 222.67 points, or 1.77 percent, in the past week
\nto close at 12,371.75 on Friday.<\/p>\n
In Kuala Lumpur, further weakness is expected on Malaysia's
\nstock market after a woeful week that saw the key index plunge
\n2.8 percent.<\/p>\n
The Kuala Lumpur Stock Exchange composite index lost 22.19
\npoints in the past week to close Friday at 769.75.<\/p>\n
In Bangkok, the Thai stock market is tipped to extend its
\ngains this week after smashing through the 700-point barrier in a
\nrally that took it to levels not seen for six and a half years.<\/p>\n
Investors bought across the board to drive the Stock Exchange
\nof Thailand (SET) composite index up 34.70 points or 5.15 percent
\nover the past week to close on Friday at 709.15.<\/p>\n
In Singapore, shares are in for an uncertain trading period
\nthis week as Asia waits to see if Severe Acute Respiratory
\nSyndrome (SARS) makes a comeback after a Taiwanese man became
\ninfected with the deadly virus.<\/p>\n
The Straits Times index closed the week at 1,710.81 points,
\ndown 16.92 or 0.98 percent from the previous week.<\/p>\n
In Taipei, Taiwan shares are likely to stage a technical
\nrebound this week ahead after recent losses spurred by fresh SARS
\nconcerns.<\/p>\n
The latest infection sent the weighted index plunging 99.09
\npoints or 1.69 percent over the week to finish at 5,759.23, after
\na 0.71-percent decline.<\/p>\n
In Manila, Philippine share prices are expected to correct
\nthis week after hitting six-week highs. The Philippine Stock
\nExchange composite index rose 2.73 percent or by 38.92 points
\nover the week to close at 1,422.24 points on Friday.<\/p>",
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