Asian stock markets end mixed at end of a rollercoaster week

Asian stock markets end mixed at end of a rollercoaster week

SINGAPORE (AFP): Asian stock markets ended mixed Friday at the
end of a rollercoaster week, with improved sentiment due to an
overnight rise on Wall Street offset by lingering domestic
worries, dealers said.

Hong Kong closed up 1.6 percent, Tokyo and Jakarta rose 1.1
percent each, Sydney advanced 0.6 percent after hitting an all-
time high en route and Singapore inched up 0.1 percent.

But Manila plunged 2.2 percent after the release of data
showing its recession deepened at the end of 1998, and Bangkok
slipped 0.9 percent on disappointing economic numbers. Kuala
Lumpur ended 0.7 percent lower in dull trade.

It capped a volatile run for regional markets which started
the week on a jittery note amid concerns over a possible
devaluation of the Chinese yuan. The concerns were put to rest by
central bank denials.

On Thursday, the U.S. market had gained 0.9 percent, with the
Dow Jones Industrial Average gaining 81.10 points to close at
9,281.33 after a positive appraisal of the U.S. economy by
Federal Reserve Chairman Alan Greenspan.

In Singapore, share prices closed a 0.1 percent higher Friday
on a technical rebound following Wall Street's gains, but a
dealer with a European brokerage said trading was listless in the
absence of fresh leads.

The Straits Times Index rose 2.12 points to 1,428.14, while
the broader All-Singapore index rose by 1.64 points to 383.53.

In Tokyo, Japanese share prices closed 1.1 percent higher, but
with late selling eroding early gains based on the dollar's
strength against the yen, brokers said.

The key 225-issue Nikkei stock average rose 156.93 points to
end at 14,499.25.

The Nikkei index rose to 14,628.88 points briefly with a gain
of more than 280 points.

The Topix index of all issues on the first section of the
Tokyo Stock Exchange was up 15.04 points at 1,125.26.

In Hong Kong, stocks closed 1.6 percent higher, boosted by
Wall Street's gains overnight and in a technical rebound from
sharp losses in the previous session.

The blue chip Hang Seng Index ended up 145.94 points at
9,506.9.

In Sydney, share prices closed up 0.6 percent after setting a
new record high in intra-day trade thanks to continuing investor
interest in blue chips and gains on Wall Street, brokers said.

The Australian Stock Exchange's main indicator, the All
Ordinaries index, closed up 16.6 points at 2,893.8. It set a
record intra-day high of 2,911.5 earlier in the day.

In Kuala Lumpur, Malaysian share prices ended 0.7 percent
lower in dull trade ahead of a long weekend and amid a lack of
fresh leads, dealers said.

The Kuala Lumpur Stock Exchange's composite index fell 4.02
points to finish at 591.43. The market is closed Monday to mark
the Kuala Lumpur city day.

In Bangkok, Thai shares slipped 0.9 percent at the close of
trade as investors took profits after the release of monthly
economic figures, dealers said.

The Stock Exchange of Thailand (SET) main index fell 3.16
points to 363.00, while the SET 50 selected index finished 0.33
points smaller at 26.30.

In Manila, Philippine share prices plunged 2.2 percent, pulled
down by the release of disappointing growth figures for last
year, analysts said.

The Philippine Stock Exchange composite index fell 44.66
points to close at 1,954.15.

In Seoul, South Korean share prices closed mixed in volatile
trade as positive influence from easier money market rates offset
subsiding foreign interest.

The main price index closed down 0.04 points, or 0.01 percent,
at 571.43, off a low of 563.73 and a high of 576.14.

In Taipei, Taiwan share prices fell 1.3 percent, pushing the
market barometer below the key 6,000-point level, as investors
fretted about the market's outlook, analysts said.

The Taiwan Stock Exchange weighted price index fell 79.41
points to 5,984.00, the lowest level so far this year.

In Shanghai, B shares, nominally reserved for foreign
investors, rose 0.4 percent on a small volume of bargain-hunting,
dealers said.

The Shanghai Stock Exchange's B-share index gained 0.09 points
to settle at 25.24 points, while the A-share index of locally
traded stocks ended down 6.80 points, or 0.6 percent, at 1,208.13
points.

In Auckland, New Zealand shares closed up 0.8 percent on the
heels of Wall Street, with telecommunications and media shares
leading the charge.

The NZSE-40 capital index closed up 17.41 points at 2,179.53.