Markets dip before New Year holiday<\/p>\n
HONG KONG (AFP): Asian stock markets ended mixed Monday in
\nthin trade and on a lack of buying incentives ahead of the New
\nYear, with most investors on year-end holidays, dealers said.<\/p>\n
Hong Kong, Tokyo, Singapore, Jakarta and Taipei were lower,
\nwhile Kuala Lumpur, Bangkok and Seoul ended in positive
\nterritory. Sydney was closed for a holiday and Manila barely
\nbudged.<\/p>\n
In Hong Kong, share prices fell 1.2 percent in thin trade on a
\nlack of buying interest at the year-end, dealers said.<\/p>\n
"It is so close to the year's end. There is no buying
\ninterest," said Sean Li, associate director at Amsteel
\nSecurities.<\/p>\n
The key Hang Seng index lost 122.06 points to close at
\n10,170.14, with financials and properties drifting lower after
\ngains last week.<\/p>\n
In Tokyo, share prices in Tokyo closed 0.6 percent lower, with
\ninvestors locking in profits on earlier gains, brokers said.<\/p>\n
The 225-issue Nikkei average of the Tokyo Stock Exchange fell
\n88.89 points to finish at 13,709.06. The Topix index of all
\nfirst-section issues lost 3.07 points to 1,079.89.<\/p>\n
Brokers said thin trading conditions left the market
\nvulnerable to only moderate selling in the afternoon session.<\/p>\n
In Jakarta, Indonesian share prices closed 0.4 percent lower
\namid a lack of liquidity ahead of the year-end holidays, dealers
\nsaid.<\/p>\n
"The (value of the) turnover was only Rp 74 billion (US$9.2
\nmillion). That means there is no liquidity in this market," he
\nsaid.<\/p>\n
The Jakarta Stock Exchange composite index was down 1.679
\npoints at 400.176, with diversified Lippo Group stocks falling on
\na negative response to Lippo Bank's rights issue.<\/p>\n
In Singapore, blue-chip share prices ended 0.8 percent lower
\non selling of index-linked stocks amid thin turnover, dealers
\nsaid.<\/p>\n
The benchmark Straits Times Index of the Stock Exchange of
\nSingapore fell 11.48 points to 1,381.27 while the broader All-
\nSingapore index dipped 2.14 points to 379.87.<\/p>\n
In Kuala Lumpur, Malaysian share prices ended 0.7 percent
\nhigher in lackluster trade on thin local support, with most
\ninvestors away on vacation, dealers said.<\/p>\n
The Kuala Lumpur Stock Exchange's composite index finished at
\n556.14 points, up 3.82 points from Thursday's close. The market
\nwas closed Friday for Christmas.<\/p>\n
In Bangkok, Thai shares closed up 1.2 percent in light trade
\namid bargain-hunting on hopes foreign investors will return in
\nJanuary, analysts said.<\/p>\n
The SET index closed up 4.13 points at 360.29, while the SET
\n50 index was up 0.27 points at 26.20.<\/p>\n
In Manila, Philippine share prices ended barely higher in
\nsluggish trading as most investors stayed home for the year-end
\nholidays, analysts said.<\/p>\n
The Philippine Stock Exchange composite index rose 0.79 points
\nto close at 1,932.94 points.<\/p>\n
In Seoul, South Korean share prices closed 1.3 percent higher
\non retail buying, the last day of trading for this year, amid a
\npositive outlook for 1999, dealers said.<\/p>\n
The Korea Stock Exchange (KSE) index closed up 7.10 points at
\n562.46, off a high of 571.02.<\/p>\n
In Taipei, Taiwan share prices plunged 3.0 percent on selling
\npressure ahead of New Year holidays, analysts said.<\/p>\n
The Taiwan Stock Exchange weighted price index fell 201.35
\npoints to 6,481.65 after it dipped 0.1 percent in the previous
\ntrading session. The market was closed Friday for Christmas.<\/p>\n
In Shanghai, shares, nominally reserved for foreign investors,
\nfell 2.8 percent on profit-taking, dealers said.<\/p>\n
The Shanghai Stock Exchange's B-share index lost 0.82 points
\nto close at 28.30 points, while the A-share index of locally
\ntraded stocks ended down 14.67 points, or 1.2 percent, at
\n1,234.01 points.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/markets-dip-before-new-year-holiday-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}