Regional stocks mixed as currencies suffer

Regional stocks mixed as currencies suffer

HONG KONG (AFP): Stock markets across the Asia-Pacific region
were mixed Tuesday as currencies took a pounding.

Local buying support kept the Malaysian bourse strong as the
ringgit fell to a record low. Manila's shares slipped only 0.1
percent, on sluggish trade with dealers saying they expected the
peso, which hit a new low, to remain unstable.

In Tokyo, Japanese share prices closed 0.6 percent lower as
late futures-led arbitrage selling reversed earlier gains on
public fund buying, brokers said.

The 225-issue Nikkei Stock Average, the key barometer of the
Tokyo Stock Exchange, shed 99.50 points to end the session at
17,887.71. But the broader Topix index of all issues on the first
section edged up 2.68 points to 1,388. 32.

In Hong Kong, share prices rose 1.2 percent in quiet pre-
holiday trading, dealers said.

The key Hang Seng Index gained 184.93 points to finish at
15,049.30 -- its highest in a month after five consecutive
sessions of gains.

In Singapore, blue-chip stock prices ended 1.0 percent higher
on good demand, especially for local bank counters.

The benchmark Straits Times Industrials index rose 19.93
points to end at 1,954.68, while the broader All-Singapore index
was up 6.72 points to 479.15.

In Sydney, the all ordinaries index, slipped 7.7 points to
2,766.9.

The all industrials index fell 26.5 points to 4,551.8, while
the all resources index gained 8.6 points to 1,362.2.

In Kuala Lumpur, the key stock index ended 0.7 percent higher
on local buying support despite the ringgit's freefall to new
record lows.

The 100-share weighted composite index rose 5.50 points to
814.57, after hitting an intra-day low of 802.51 points.

In Bangkok, Thai share prices dropped 0.9 percent as central
bank data came out in line with expectations and investors held
out for details of a planned restructuring of the finance sector,
analysts said.

The composite Stock Exchange of Thailand (SET) index was off
4.94 points at 544.54 points, while the selected SET 50 index
dropped 0.47 points at 41. 06.

In Manila, Philippine share prices fell 0.1 percent in
sluggish trade due to the absence of market-moving news.
"We're still in uncertain times. It's boring trading," said Jose
Ricardo Garcia of Diversified Securities Inc.

The Philippine Stock Exchange index shed 1.76 points to close
at 2,057.39.

In Seoul, the composite index closed up 22.04 points at
647.11. Volume stood at 32.7 million shares worth 415.6 billion
won (456 million dollars).

In Shanghai, the B share index dropped 0.31 points to close at
76.31 points. The A share index of domestically-traded shares
rose 14.45 points, or 1.3 percent, to close at 1,144.66 points.

In Taipei, the Taiwan Stock Exchange weighted price index slid
120.55 points to 8,708. 83.

In Auckland, the New Zealand stock exchange closed up 0.1
percent on turnover of NZ$69.4 million (US$44.5 million), with
the NZSE-40 rising by 3.45 to 2,557.08.