Asian shares little changed, Bangkok down sharply

Asian shares little changed, Bangkok down sharply

Agence France-Presse, Hong Kong

Asian stocks closed little changed on Wednesday as record oil
prices and uncertainty over the outcome of the U.S. presidential
election outweighed Wall Street's strong rally overnight, dealers
said.

They said the Wall Street lead would normally have been enough
to ensure a positive day in Asia but the bounce in New York was
seen as part of the recent pattern there -- a sharp gain in a
market which overall continues to slide.

There was little incentive to trade aggressively given that
the U.S. presidential election looks too close to call, the
dollar is weakening and concerns are increasing over the outlook
for the crucial electronics sector in key markets,

In Tokyo, Japanese share prices closed 0.18 percent higher in
cautious trade amid concerns about the possible impact on the
economy of the sustained series of quakes in northern Japan.

The Tokyo Stock Exchange's benchmark Nikkei-225 index gained
19.49 points or 0.18 percent to 10,691.95, off a high of
10,777.43 seen before another tremor hit northern Japan in the
morning.

In Seoul, South Korean share prices closed 0.47 percent lower,
giving up early gains driven by bargain-hunting as investors
quickly sold down exporters after the won hit a four-year high.

With oil prices continuing at record highs and a strong tremor
hitting Japan, sentiment remained under pressure, leaving the
market perilously close to the 800 points level at one stage
despite Wall Street's rebound overnight.

The KOSPI index closed down 3.79 points at 809.91, off a high
of 822.30 and a low of 803.72.

In Hong Kong, share prices closed 0.11 percent lower on
continuing concerns over high oil prices, with many investors
staying on the sidelines ahead of the settlement on Thursday of
futures contracts.

The key Hang Seng Index closed down 13.64 points or 0.11
percent at 12,838.71, off a low of 12,836.49 and high of
12,918.45.

In Singapore, Singapore share prices closed little changed,
supported by gains in Singapore Telecommunications (SingTel) and
the bank stocks amid continuing concerns over high oil prices.

The Straits Times Index rose 1.64 points to 1,959.05 and the
All-Singapore Equities index was 0.79 points up at 511.51.

In Kuala Lumpur, Malaysian share prices closed little in
lackluster trade as investors remained largely sidelined in the
absence of fresh domestic leads

The Kuala Lumpur Composite Index eased 0.38 points to 851.17.

In Bangkok, Thai share prices closed 3.32 percent lower,
dropping sharply on increasing concerns about the deaths of 78
Muslims who were rounded up by troops and crammed into trucks
after a protest, dealers said.

The Stock Exchange of Thailand (SET) composite index lost
21.53 points to close at 626.85 and the blue-chip SET 50 was down
1.59 points at 43.78.

In Jakarta, Indonesian share prices closed 0.93 percent higher
on a technical rebound led by telecom stocks following the
market's recent falls, with the banking sector also gaining
following strong third quarter results, dealers said.

The Jakarta Stock Exchange composite index closed up 7.831
points at 849.184 on volume of 1.07 billion shares worth 924.64
billion rupiah (101.61 million dollars.) Gainers led losers 72 to
35, with 80 stocks unchanged.

"Most of the banks' financial reports are good," said Kuo
Capital Raharja analyst Edwin Sinaga and the prospect of
dividends this year further boosted investor interest.

In Manila, Philippine share prices closed 0.31 percent higher,
supported by a positive third quarter performance from key blue
chip companies.

The market continues its technical rebound following recent
sharp falls to below the main index's psychological support of
1,750 but investors were quick to cash in early gains given
concerns about higher crude oil costs.

The Philippine Stock Exchange composite index gained 5.56
points to 1,774.34 after trading between 1,767.98 and 1,786.61.