Share markets volatile in Asia-Pacific
Share markets volatile in Asia-Pacific
TOKYO (AFP): Volatile trade marked the day for major Asia- Pacific bourses yesterday with Tokyo surging on the stronger yen, Hong Kong plunging and Australia posting a record high finish.
In Tokyo, the dollar's surge against the yen drove Japanese share prices higher, as export-oriented blue chips enjoyed fresh buying, brokers said.
The dollar's upswing gave market participant a cue for buying of export-sensitive stocks which have been top-heavy in recent trading due to the yen's recent advance, brokers said.
The key Nikkei stock average of 225 selected issues on the Tokyo Stock Exchange climbed 274.53 points, or 1.4 percent, to end at 20,564.46.
In Jakarta, share prices rose 0.3 percent on late interest in selected heavyweight stocks, dealers said.
"The market has been very quiet this week so I guess today's gains are likely to be unreal. It seems to me that some companies were playing around with their stocks," an institutional sales representative at PT Sassoon Securities said.
The Jakarta Stock Exchange composite index closed 2.18 points firmer at 695.22.
In Hong Kong, the Stock Exchange's key Hang Seng Index shed 497.18 points to finish at 13,924.34 -- its fifth consecutive session of losses. The index hit an all-time closing high of 14,990.90 on June 2.
In Sydney, the Stock Exchange's key all ordinaries jumped 24.4 points to 2,638.1 to beat its previous record finish of 2,628.9 points reached on Tuesday.
In Singapore, the Stock Exchange of Singapore's blue-chip barometer, the Straits Times Industrials index, shed 2.81 points to 1,990.68.
The broader All-Singapore index closed down 3.05 points to 491.11.
In Kuala Lumpur, the Stock Exchange's 100-share weighted composite index fell 7.84 points to 1,100.41, after reaching an intra-day low of 1,088.56.
In Taipei, share prices in Taiwan finished 0.1 percent lower as late selling of food and banking issues eroded early gains by electrical stocks.
The Taiwan Stock Exchange weighted price index declined 7.72 points to 8, 259.28.
In Seoul, share prices rose 1.2 percent amid strong interest in the financial sector as the strengthening yen bolstered demand for export-sensitive stocks, dealers said.
The Korea Stock Exchange's composite index closed up 8.87 points at 774.66.
In Bangkok, share prices eased 0.3 percent with investors largely sidelined on concerns about non-performing loans, which financial companies will have to disclose in second quarter reports.
The broad-based Stock Exchange of Thailand (SET) index closed 1.64 points lower at 519.76 points while the selected SET 50 index dropped 0.14 point to finish at 36.88 points.
In Wellington, share prices closed 0.2 percent lower as investors sold key blue chips including market leader Telecom Corp. to lock away profits.
The key New Zealand Stock Exchange 40 capital index eased 3.89 points to 2, 381.08.
In Shanghai, the B share index rose 0.12 point to 82.91 while the A share index for locally-traded stocks fell 8.25 points, or 0.6 percent, to 1,265.83.