November 10, 2001	Saturday	Shaba’an 23, 1422

TOKYO, Nov 9: Asian stock markets closed mixed on Friday, with most bourses higher on bargain-hunting but others including regional leader Tokyo dragged lower on domestic concerns.

Hong Kong, Sydney and Singapore were the major gainers, highlighted by selective buying, while Tokyo and Taipei were the main share markets to close weaker in the region.

Tokyo plunged 2.1 per cent on economic woes as banks continued to shudder over bad-loan fears and hi-tech issues followed a decline in their counterparts on Wall Street.

The Nikkei average of 225 leading issues on the Tokyo Stock Exchange closed down 216.08 points at 10,215.71.

Buying sentiment was also eroded by a government announcement that Japan’s gross domestic product was forecast to shrink 0.9 per cent in the year to March 2002, contrary to an original projection of 1.7 per cent growth, brokers said.

Jinnai also said investors dumped hi-tech issues following an overnight 0.5-per cent decline in the technology-heavy United States Nasdaq composite.

HONG KONG: Hong Kong share prices rose 0.7 per cent led by properties, which benefited from laggard buying after sentiment was cheered by the release of improved US consumer credit data for September.

The key Hang Seng index gained 70.63 points to close at 10,609.25, off a high of 10,716.55.

SYDNEY: The Australian share market closed 0.5 per cent higher after investors confined themselves to defensive buying ahead of Saturday’s national election.

The All Ordinaries index rose 16.1 points to 3,221.40 while the SP/ASX 200 added 16.6 points to 3,286.00.

SINGAPORE: Singapore share prices closed 2.2 per cent higher with bargain-hunting in blue chips, and the market heartened by cost slashing at Singapore Press Holdings.

The Straits Times Index gained 29.86 points to 1,362.77.

KUALA LUMPUR: Malaysian share prices closed 0.1 per cent higher as buying of selected bluechips offset profit-taking on lower liners.

The Kuala Lumpur Stock Exchange’s composite index rose 0.88 of a point to finish at 599.45.

SEOUL: South Korean share prices ended 0.7 per cent higher on continued foreign interest in blue chips despite the Nasdaq’s fall.

The composite index closed up 3.71 points at 576.75.

MANILA: Philippine share prices rose 0.4 per cent on bargain hunting with the Philippine Stock Exchange composite index rising 3.77 points to 999.79.

TAIPEI: Taiwan share prices closed 0.3 per cent lower on continued profit-taking with the Taiwan Stock Exchange weighted price index slipping 11.25 points to 4,123.78.

BOMBAY: Indian share prices closed 0.6 per cent higher on the Bombay Stock Exchange on fund and trader buying, led by blue-chip Larsen. The benchmark 30 share BSE-sensitive index rose 19.07 points to close at 3,079.67.

BANGKOK: Thai shares edged down 0.1 per cent amid a lack of fresh leads as most investors were sidelined ahead of the Petroleum Authority of Thailand’s forthcoming public offering.

The Stock Exchange of Thailand (SET) composite index lost 0.23 points to close at 268.11 points, and blue chip SET 50 index was unchanged at 17.26.—AFP