Share prices mostly up on Asian markets

TOKYO (Agencies): Share prices closed mixed here yesterday with foreigners continuing to buy and Japanese investors sitting on the sidelines.

The Nikkei Stock Average of 225 selected issues in the first section closed 46.51 points or 0.2 percent higher at 20,270.75 yesterday. The index gained 74.11 points the previous day.

But the broader-based Tokyo Stock Price Index of all issues, which closed 9.52 points higher Thursday, lost 1.36 points to end at 1,643.20.

In Hong Kong, stock prices surged 2.9 percent on strong overseas buying due to optimism of a U.S. renewal of most-favored-nation (MFN) trading status to China in June.

The blue-chip Hang Seng Index gained 255.86 points to close the week's trading at 9,134.72 -- its highest level in two weeks of volatile trading.

In Singapore, share prices rose in thin trading boosted by gains on Wall Street and late fund buying of selective blue chip counters, dealers said.

The 30-stock blue chip Straits Times Industrials index closed provisionally higher at 2,286.12 points, up 35.71 points from Thursday.

In Sydney, the market barometer, the All Ordinaries index, closed at 2,070.0 points, up 28.6 points or 1.4 percent from Thursday's finish.

The All Industrials index rose 24.9 points to 3,094.8 and the All Resources climbed 32.7 points to 1,295.5 due to stronger commodity prices, brokers said.

In Taipei, following the previous trading's 20.09-point dip, the benchmark 375-issue weighted price index recovered 57.57 points or 0.96 percent to settle at 6,061.95 points.

In Bangkok, the Stock Exchange of Thailand (Set) index, which slipped 3.04 points Thursday, rose 26.45 points yesterday to close the week at 1,259.17.

In Seoul, share prices eased in heavy trading, snapping a 7- day rising streak.

The composite index of the exchange lost 2.00 points to close at 950.45 points, making a turnabout from a continuous upturn since Wednesday last week. Advances, however, topped declines 412 to 359 while prices did not change for 110 others.

In London, stocks were drifting lower, dragged lower by a weak futures market.

The blue-chip Financial Times Stock Exchange 100-share index was at 3,130.0 points near midmorning, down 7.8 points. The narrower Financial Times 30 index was at 2,491.6 points, down 2.6 points.

In New York, blue-chip stocks rallied Thursday amid easing long-term interest rates after the government released figures showing inflation under control.

The Dow Jones industrial average rose 22.80 points to close at 3,652.84.