Share prices mixed on Asian, European markets

Share prices mixed on Asian, European markets

HONG KONG (Reuter): Asian stock markets closed mixed yesterday, with the Taipei bourse surging to a four-year high and share prices in Bombay hit hard by concerns over the spread of pneumonic plague in India.

The Tokyo market firmed, though closing off the day's highs, as pension and insurance funds and investment trusts continued to buy. The 225-share Nikkei average ended 107.52 points, or 0.55 percent, higher at 19,615.12.

Hong Kong's blue-chip market barometer, the Hang Seng index, also pared early gains to end just 6.72 points up at 9,700.21. It was at one stage up 124 points to a high of 9,817.51.

Buying of financial stocks and lower-priced blue chips by institutions and big market players pushed Taipei's key index up 72.03 points, or 1.02 percent, to close at 7,101.13, brokers said. But the bullish sentiment was not universal.

Singapore stocks also jumped higher, boosted by buying from foreign funds, with hotel and property stocks the major gainers, brokers said. The Straits Times Industrials index rose 18.21 points, or 0.78 percent, to end at 2,348.90.

Australian stocks got off to a brisk start, gaining early on an overnight rise on Wall Street, but faltered with the release of worse-than-expected current account figures.

The All Ordinaries Index managed, however, to end 16.5 points, or 0.82 percent, up at 2030.6 after options-linked buying led to a recovery in prices.

Indian stocks listed in Bombay fell sharply on fears of western India's pneumonic plague spreading across the country and how this might affect foreign sentiment, brokers said.

The market's 30-share index closed 50.19 points, or 1.14 percent, lower at a provisional 4,358.30. The 100-share national index closed 23.30 points, or 1.1 percent, lower at 2,067.15.

Seoul share prices edged down on sales of heavily index- weighted blue chips, though gainers far outpaced losers in the general market.

In London, in late morning trade the Financial Times-Stock Exchange index of 100 leading British shares had fallen 15.9 points to 3,022.8. In Paris, the CAC-40 share index dropped 17.41 to 1,887.54.

In New York, stocks posted a broad-based rally Wednesday, still celebrating the Federal Reserve's decision to leave interest rates untouched for now.

The Dow Jones industrial average closed 15.14 points higher at 3,878.18.