RI stocks seen strengthening in coming week<\/p>\n
Agence France-Presse
\nJakarta\/Singapore<\/p>\n
Indonesia's stock market is expected to strengthen further
\nthis week after making a strong recovery in the past two days
\nfrom a week-long slump, an analyst said.<\/p>\n
\"It appears that the index can strengthen again next week, at
\nleast strong enough to test the 770 psychological level,\" said
\nBNI Securities analyst Fitri Murniawati over the weekend.<\/p>\n
She said attractive values for several blue chips such as
\ntelecommunications, banking and cigarette stocks would help boost
\nthe index.<\/p>\n
Ficor Sekuritas Indonesia research analyst Chrisbiantoro also
\nsaid the market may sustain its rise in the coming week providing
\nthe region does not slide into a steep correction. The Jakarta
\nStock Exchange composite index closed Friday at 758.924, up 5.992
\npoints or 0.8 percent on the previous Friday.<\/p>\n
In Singapore, the shares are expected to trade in a narrow
\nband amid continuing concerns about the bird flu outbreak in Asia
\nand as the market consolidates.<\/p>\n
Singapore Telecommunications may continue to shine after
\nannouncing a stunning 188-percent surge in net profits for the
\nDecember quarter to S$854 million (US$505 million).<\/p>\n
The Straits Times Index closed at 1,854.41 on Friday, up 6.05
\npoints or 0.32 percent from the previous week.<\/p>\n
In Seoul, Korean share prices will likely gain on renewed
\nforeign interest, expectations for the stabilizing won and a good
\neconomic outlook, according to dealers.<\/p>\n
Foreign investors' renewed buying sparked a sharp rebound in
\nthe local bourse on Friday, bucking the downward correction trend
\nin the past week after the government's strong indication to
\nstabilize the won.<\/p>\n
In Tokyo, Japanese shares are likely to move in a narrow range
\nwith investors cautious towards aggressive buying due to concern
\nabout the strong yen and supply-demand balance, brokers said over
\nthe weekend.<\/p>\n
\"Foreign players, who led recent gains on the Tokyo market,
\nare now very cautious, shifting their funds from riskier shares
\nto defensive ones,\" said Norihiro Fujito, senior analyst at
\nMitsubishi Securities.<\/p>\n
Last week, the Tokyo Stock Exchange's Nikkei-225 index lost
\n322.69 points or 2.99 percent to 10,460.92 after a 2.0 percent
\ndecline the preceding week.<\/p>\n
Meanwhile, the avian flu scare is expected to pose less of a
\nthreat to the Hong Kong stock market as investors turn their
\nattention to the earnings season in the banking sector.<\/p>\n
Hong Kong share prices closed sharply higher on Friday led by
\na rally in property stocks thanks to a pick-up in sales of
\nrecently-launched Hong Kong luxury residential units.<\/p>\n
The rise was achieved after the shares plunged below the key
\n13,000 mark on Monday, as investors dumped stocks across the
\nboard following news of the first suspected human-to-human
\ntransmission of the bird flu virus in Thailand.<\/p>\n
As for Thai stock market, the index is expected to remain
\nunder pressure from the bird flu outbreak, following the volatile
\ntrade of recent sessions and as regional news emerges about the
\nvirus.<\/p>\n
Sukit Udomsirikul, an analyst at Capital Nomura Securities,
\nsaid it was unlikely the bourse would emerge unburdened by the
\nhealth crisis that has already killed five people in Thailand and
\nsent the $1.2 billion chicken export business into a tailspin.<\/p>\n
The flu factor had nearly subsided with a spate of stock
\nmarket gains Tuesday through Thursday but panic had set in Friday
\nwith the Vietnam news, triggering concerns the disease could be
\nmore easily transmitted to humans after infecting pigs.<\/p>\n
The Stock Exchange of Thailand (SET) composite index gained
\n12.55 points, or 1.75 percent, over the past rollercoaster week
\nto close on Friday at 711.15.<\/p>",
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