Asian stock markets rally in cautious trade
Asian stock markets rally in cautious trade
HONG KONG (AFP): Hong Kong share prices rose 0.2 percent yesterday to a record high close, in line with most other Asian bourses which rallied despite caution on the eve of U.S. elections, brokers said.
"The index is to stick at the current narrow range ahead of the U.S. election with investors opting to wait for a lead from Wall Street," said Simon Tam, sales managers of Sassoon Securities.
The Stock Exchange of Hong Kong's key Hang Seng index rose 30.13 points to a record finish of 12,559.40, breaking the previous record close of 12,529.27 posted Friday.
Tokyo's market was closed for a holiday:
Singapore blue-chip shares ended 0.4 percent higher on mild bargain-hunting but institutional investors kept a low profile ahead of the U.S. presidential election.
The Straits Times Industrials index of leading issues on the Stock Exchange of Singapore rose 7.61 points to 2,075.78. The broader All-Singapore index gained 2.23 points to 514.29.
Late buying on expectations that the Reserve Bank of Australia will decide to cut interest rates spurred Australian share prices to a 0.8 percent rise.
The Australian Stock Exchange's main indicator, the all ordinaries index, rose 18.1 points to 2,357.5 points.
Malaysia's key stock index ended 0.4 percent higher, propped up by gains in heavyweight Tenaga Nasional Bhd, while players took profits on the lesser second board.
The Kuala Lumpur Stock Exchange's 100-share weighted composite index rose 4.59 points to 1,177.07. The second board index fell 12.1 points, or 1.9 percent, to 622.41.
Share prices fell 2.4 percent to a three-year low on the Korea Stock Exchange, dampened by the launching by President Kim Young- Sam of a sweeping anti-corruption drive, dealers said.
The composite index plunged 18.31 points to 747.42 points, the lowest since October 29, 1993, when the closing index was logged at 742.72.
Share prices in Taiwan finished 0.9 percent higher as investor sentiment was boosted by planned stock investment by the government-run labor insurance fund.
The Taiwan Stock Exchange weighted price index gained 59.67 points to 6, 622.61.
The broad-based index of the Stock Exchange of Thailand (SET) rose 0.45 point to finish at 912.97 points, but the SET-50 index of selected counters eased 0.05 point to close at 68.87 points.
Indonesian share prices closed 1.3 percent higher in thin buying of selected blue chips with foreigners mostly inactive.
The Jakarta Stock Exchange composite index rose 7.65 points to 578.31.
The Philippine Stock Exchange index gained 12.14 points to close at 2,976. 14.
The FT-SE 100 index of leading shares in London rose by 0.4 points to 3,948.9 points.
In Paris, the CAC-40 index opened 18.93 points lower at 2,121.58 points.