August 31, 2006	Thursday	Sha'aban 6, 1427

HONG KONG, Aug 30: Asian stocks closed mixed on Wednesday with underlying sentiment remaining strong after another positive finish on Wall Street and another easing in oil prices in regional trade.

However some caution entered the market ahead of revised estimates for US economic data due out later in the day resulting in mild profit taking.

Losses were slight with Tokyo down 0.12 per cent while Seoul, Manila, and Bangkok all closed down by about a quarter of one per cent. Jakarta fell 0.54 per cent after a weak financial performance by Indosat.

Sydney and Wellington were flat but all other markets were stronger with Singapore, Kuala Lumpur, Mumbai, Hong Kong and Taipei making solid gains on Wall Street's better result and the lower cost of crude.

A strong yuan supported gains in Shanghai.

Dealers did sound a note of caution after oil prices rebounded above $70 per barrel in early European trade on the eve of a UN deadline for Iran to suspend nuclear enrichment operations or face the threat of sanctions.

TOKYO: Share prices ended 0.12 per cent lower, giving up early gains as investors turned cautious ahead of a series of key US economic indicators.

They said participants were reluctant to buy into the market ahead of revised estimates due later Wednesday of second-quarter US economic growth as well as a crucial US monthly labour market report on Friday.

The Nikkei-225 index dropped 18.54 points to 15,872.02. Volume rose to 1.47 billion shares from 1.25 billion on Tuesday.

HONG KONG: Share prices closed 1.18 per cent higher as investors stepped up buying of property and banking stocks in late trade on hopes that the US Federal Reserve will keep interest rates on hold following weak economic data.

Dealers said a drop in oil prices to below the 70 dollars a barrel level also bolstered sentiment.

The Hang Seng Index closed up 201.43 points at 17,284.71 Turnover was 29.79 billion dollars (3.82 billion US).

SYDNEY: Share prices closed flat in lacklustre trade as the company earnings season draws to an end.

Dealers said there was little fresh news to go on after the excitement Tuesday generated by speculation of a takeover tussle for Foster's and investors were awaiting key US data for direction.

Firmer banks provided support, offsetting weaker resources.

The SP/ASX 200 slipped 0.3 points to 5,067.3. Turnover was 1.17 billion shares worth 4.16 billion dollars (3.12 billion US).

CMC Markets chief analyst David Land said gains in the banking sector counterbalanced weakness in resources.

SINGAPORE: Share prices closed 0.65 per cent higher following another rise on Wall Street as oil prices fell below 70 US dollars per barrel.

Dealers said oil prices remained under 70 dollars in Asian trade on reduced fears that tropical storm Ernesto would damage US Gulf coast oil facilities.

KUALA LUMPUR: Share prices closed up 0.51 per cent, as blue chips gained momentum ahead of the release of second-quarter economic growth data.

Dealers said a slew of better-than-expected corporate earnings also helped boost buying interest in blue chips.

The composite index added 4.90 points to 958.12. Trading volume was 405.41 million shares valued at 715.14 million ringgit (193 million dollars).

JAKARTA: Share prices closed 0.54 per cent lower in profit-taking led by index heavyweight Indosat.

The composite index closed down 7.706 points at 1,425.225 on volume of 1.86 billion shares worth 1.43 trillion rupiah (156.97 million dollars).

WELLINGTON: Share prices closed little changed, with gains in market leader Telecom offset by falls in other major stocks.

The NZX-50 gross index rose 1.24 points to 3,497.84 on turnover worth 118.1 million New Zealand dollars (76.4 million US).

Telecom closed five cents higher at 4.09 dollars, continuing its rise on Tuesday after reports suggesting the company may pay a special dividend of up to 60 cents if it sells its directories unit.

But Contact Energy fell nine cents to 6.80 dollars as its majority owner, Australia's Origin Energy, voiced concern over Contact's future gas costs.

MUMBAI: Share prices closed up 0.15 per cent on cautious trading ahead of the expiry of a monthly derivatives contract after posting strong gains over the past two weeks.

Dealers said investors were not keen to build up fresh positions ahead of the expiry of the August derivatives contract Thursday.

The 30-share benchmark Sensex index rose 17.07 points to 11,723.92, marking the fifth straight trading session of gains.—AFP