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| Source: DJ

Asian stocks: Mixed,boosted by bargain

AP Hong Kong

Share prices ended mixed in Asia Thursday, though some markets were boosted by bargain hunting and technical buying.

Many markets traded in a narrow range as players watched for developments in the U.S. response to the Sept. 11 terrorist attacks.

In Indonesia, however, share prices slipped 1.5 percent amid rising concerns over reports of a call for a holy war, or jihad, by the country's Muslim cleric association if the U.S. attacks Afghanistan, dealers said.

Jakarta's JSX Composite Index shed 5.974 points to end at 393.747.

Concerns the rupiah will continue to weaken also hurt investor sentiment, dealers said. The dollar was trading at Rp 9,690, compared to Rp 9,635 late Wednesday in Asia.

"Sentiment was very poor," said a trader with a local brokerage firm, expecting that the main index may find new support at 360-level, if selling continues ahead of a possible U.S military response to the Sept 11. terrorist attacks.

Dealers said they expect the market to remain lower Friday on continued selling pressure in blue chips given the possible U.S. military action.

Meanwhile, the U.S. dollar rose against the yen as Japan's central bank intervened to stem the Japanese currency's upswing.

The dollar bought 118.64 yen at 0800 GMT (0300 Jakarta time), up 1.34 yen from late Wednesday in Tokyo and also above its late New York level of 117.85 yen overnight.

The intervention, the sixth in a recent series, followed a similar effort to buy euros and dollars on the European market Wednesday. A stronger currency, which would make Japan's exports less competitive, would hamper Japan's struggle to avoid slipping back into recession.

Hong Kong's blue chip Hang Seng Index jumped 229.04 points, or 2.4 percent, to 9600.79, helped by bargain hunting of heavyweight property shares. However, traders said they expected the rally to be short-lived. Wednesday, the Hang Seng gained 161.69 points, or 1.8 percent.

Taiwan shares closed lower in response to overnight losses on Wall Street, particularly among semiconductor shares. The Weighted Price Index of the Taiwan Stock Exchange fell 57.90 points, or 1.6 percent, to end at 3567.63 points.

Close manufacturing ties mean Taiwan shares often take their cues from the U.S. markets.

Thai stocks opened higher on positive corporate news but fell back on profit-taking later in the day. The Stock Exchange of Thailand Index finished 0.91 points, or 0.33 percent , lower at 274.76.

Malaysian shares rose broadly on bargain hunting. The weighted Composite Index of 100 blue chip stocks closed up 10.13 points, or 1.7 percent, to 612.64.

Philippine shares extended their losing streak as the Philippine Stock Exchange Index shed 2.69 points, or 0.24 percent, to end at 1141.59.

South Korean shares were virtually unchanged in thin trading ahead of national holidays next week. The Korea Composite Stock Price Index, or Kospi, edged down 0.47 points, or 0.10 percent, from Wednesday's close to 472.38.

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