Little movement as Asian stock markets stay firm<\/p>\n
HONG KONG (AFP): Asian-Pacific markets posted little movement
\nyesterday keeping an anxious eye on events in Indonesia and the
\nGulf as well as the region's economic crisis.<\/p>\n
There was mixed trading, with Thailand posting the biggest
\ngains where the market ended 2.2 percent up, but analysts said
\nsentiment was cautious due to regional and domestic concerns.<\/p>\n
Hong Kong share prices gained 0.2 percent here despite an
\nannouncement by Moody's Investors Service that it was downgrading
\nthe territory's credit rating, dealers said.<\/p>\n
The key Hang Seng index gained 18.52 points to close at
\n10,599.79.<\/p>\n
In Tokyo, the key Nikkei stock average on the Tokyo Stock
\nExchange rose 139. 76 points, or 0.8 percent, to end the session
\nat 16,756.24.<\/p>\n
The broader Topix index of all first section issues edged up
\n2.36 points to 1,260.69.<\/p>\n
Share prices held to negative territory for most of the day
\ndue largely to dealer-led selling, with investors awaiting for
\nthe release of the stimulus package by the Liberal Democratic
\nParty (LDP) which came near the close of trade. .<\/p>\n
In Singapore, stock prices ended 0.5 percent lower but dealers
\nsaid the general market undertone was firm despite a drop in
\nexports and warnings that earnings of local banks will fall by 30
\npercent.<\/p>\n
The benchmark Straits Times Industrials index of the Stock
\nExchange of Singapore fell 7.68 points to end at 1,545.79 while
\nthe broader All-Singapore index was down 3.08 points to 410.52.<\/p>\n
In Australia, the Australian Stock Exchange's main indicator,
\nthe All Ordinaries Index, fell 13.7 points to 2,645.1.<\/p>\n
In Bangkok, Thai stocks ended 2.2 percent firmer as foreign
\nplayers moved back into the market despite regional financial
\nturmoil and fears of a Gulf conflict, dealers said.<\/p>\n
The Stock Exchange of Thailand closed Friday 11.42 points up
\n521.83 in moderate trading with selective buying in blue chips
\nwhich was buoyed by a stable Thai baht. The SET 50 select index
\nended up 0.92 points at 39.37.<\/p>\n
In Kuala Lumpur, Malaysian share prices closed 0.6 percent
\nhigher after a day of volatile trading with the broader market
\ntaking a breather from the recent rally ahead of the weekend,
\ndealers said.<\/p>\n
The Kuala Lumpur Stock Exchange composite index ended at
\n728.06 points, up 4.56 points from Thursday's finish.<\/p>\n
In Manila, Philippine share prices closed fractionally lower
\nas investors remained cautious, expecting a major correction will
\nbe coming.<\/p>\n
The Philippine Stock Exchange composite index fell 0.39 points
\nto 2,135.91.<\/p>\n
In Seoul, share prices closed 1.7 percent up on the Korea
\nStock Exchange as late profit taking ate into early gains made on
\nthe back of significant foreign interest in select blue chips,
\ndealers said.<\/p>\n
They said the market saw resistance at the 530-point level and
\ncame under selling pressure by institutions.<\/p>\n
In Shanghai, the B share index rose 0.61 points to close at
\n54.97 points while the A share index of locally-traded stocks
\nfell 7.35 points, or 0.6 percent, to 1,293.33 points.<\/p>\n
In Taipei, the weighted price index rose 58.97 points to
\n9,037. 48, the highest level this year.<\/p>\n
In New Zealand, the NZSE-40 index was down 10.97 points to
\n2,282.63 on turnover of NZ$65.8 million (US$38.7 million).<\/p>",
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