Asian stocks mixed

Published July 8, 2006

HONG KONG, July 7: Asian stocks closed mixed on Friday, with any gains limited as investors headed for the wings ahead of the release of key US employment figures due out later in the day, dealers said.

They said the jobs data should provide a further lead on whether or not the cycle of US interest rate hikes was nearing an end while events elsewhere were also weighing on sentiment and limiting gains.

Tokyo, Taipei, Hong Kong, Singapore and Kuala Lumpur were flat.

Seoul closed 0.79 per cent higher after the Bank of Korea's decision to hold rates steady with the aim of limiting any economic impact from North Korea's missile tests.

TOKYO: Share prices closed little changed as investors turned cautious ahead of key US jobs data later in the day.

The Nikkei-225 index dipped 13.79 points or 0.09 per cent to 15,307.61.

Volume was 1.41 billion shares, down from 1.52 billion Thursday.

HONG KONG: Share prices closed little changed as investors traded cautiously ahead of key employment data in the US later in the day.

SYDNEY: Share prices closed 0.29 per cent higher, extending gains as investors took a positive lead from the overnight rise on Wall Street.

The S and P/ASX 200 added 15.0 points to 5,135.3. Turnover was 1.15 billion shares worth 2.49 billion dollars (1.86 billion US).

SINGAPORE: Share prices closed little changed as investors locked in profits ahead of the weekend.

The Straits Times Index fell 2.94 points to 2,445.13 on volume of 1.11 billion shares worth 938.63 million Singapore dollars (594.07 million US).

KUALA LUMPUR: Share prices closed 0.06 per cent higher, helped by blue chips after strong industrial output data and recent robust exports data bolstered investor confidence.

JAKARTA: Share prices closed 0.59 per cent higher, with sentiment buoyed by Bank Indonesia's rate cut decision this week and triggering bargain hunting among banking stocks.

WELLINGTON: Share prices closed 1.0 per cent higher, with mid-caps in particular attracting interest.

The NZX-50 index rose 38.9 points to 3,642.27 on turnover worth 131.8 million New Zealand dollars (79.8 million US).

MUMBAI: Share prices plunged in late trade, closing down 2.40 per cent on political uncertainty following pressure by allies of the Congress party-led government to halt state asset sales.—AFP

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