Asian stocks lower in quiet trading
Asian stocks lower in quiet trading
TOKYO (AFP): Asian shares closed mostly lower in quiet trading
on Thursday as markets continued their mid-summer slumber.
In Jakarta, Indonesian share prices closed down 0.6 percent on
concern over possible security disturbances following the failure
of former President Soeharto to show up for his trial.
The Jakarta Stock Exchange composite index fell 2.681 points
to 466.380.
Dealers said the first half results of several companies were
"pretty much ignored" by the market amid wider political
concerns.
A dealer with a regional brokerage said foreign players were
still net sellers because of ongoing concern over Indonesia's
social and political conditions.
However, South Korea's key index dived 4.4 percent on heavy
selling of semiconductor stocks which have been on the ascent in
recent weeks.
Tokyo share prices edged down 0.2 percent as investors squared
off positions at the end of the month amid concerns over Japan's
economic prospects, brokers said.
The Tokyo Stock Exchange's Nikkei-225 index closed down 40.41
points at 16,861.26.
In Hong Kong, share prices closed barely changed as the market
ran out of steam due to a lack of leads.
The key Hang Seng index gained just 1.63 points to close at
17,097.51 from a high of 17,263.01 on turnover of HK$8.56 billion
(US$1.10 billion).
In Sydney, Australian share prices fell 1.6 percent following
heavy selling in key blue chips.
The All Ordinaries index dropped 54.6 points to 3,261.7 while
the SP/ASX 200 lost 60 points to 3,297.8.
In Singapore, share prices closed 0.8 percent down in
continued light trade with a lack of fresh leads.
The Straits Times Index fell 17.57 points to 2,147.77, and the
broader All Singapore Equities Index fell 3.64 points to 571.92.
In Seoul, South Korean share prices fell 4.4 percent on heavy
foreign selling of semiconductor stocks, including Samsung
Electronics and Hyundai Electronics.
The composite index closed down 30.31 points at 688.62. Volume
was 262 million shares worth 2.2 trillion won ($2.0 billion).
In Manila, Philippine share prices rose 0.8 percent on
continuing positive sentiment following the release of better-
than-expected economic growth figures for the June quarter.
The Philippine Stock Exchange composite index rose by 12.33
points to 1,537.52.
In Taipei, Taiwan share prices closed one percent higher on
bargain-hunting after steep falls earlier this week.
The Taiwan Stock Exchange weighted price index rose 73.02
points to 7,616.98, following a 3.5-percent plunge in the
previous session to this year's low.
In Bangkok, Thai share prices slipped 0.6 percent in profit-
taking with losses led by the banking sector amid renewed
concerns over its non-performing loans problem.
The Stock Exchange of Thailand (SET) composite index fell 1.84
points to 307.83 and the SET 50 index fell 0.18 points to 21.61.
The Shanghai Stock Exchange's B-share index, which tracks
shares nominally reserved for foreigners, dropped 4.63 points to
close at 66.18 on turnover of 293.25 million yuan ($35.42
million).
In Wellington, New Zealand shares closed down 0.4 percent in
heavy month-end trading as investors made portfolio adjustments.
The NZSE-40 Capital Index fell 8.36 points to 2,093.42 on
turnover of NZ$ 234.3 million (US$114 million).