April 07, 2007	Saturday	Rabi-ul-Awwal 18, 1428

HONG KONG, April 6: Asian stocks were little changed in quiet holiday business Friday, with most bourses closed while those that were open traded cautiously ahead of key US jobs data due later in the day, dealers said.

They said investors were largely squaring positions ahead of the long Easter holiday weekend, anxious that they not be caught out should the US employment report contain any unpleasant surprises.

US non-farm payrolls are expected to show a rise of about 135,000 in March after a 97,000 gain in February, according to Wall Street forecasts.

Recent US data has been mixed and the markets would like to get a clearer lead on the US economic outlook after the recovery made over the past month following the global equity turmoil seen in early March.

TOKYO: share prices closed flat as investors waited for the release of key US jobs data later in the day, dealers said.

They said that with many overseas markets closed for the Good Friday holiday, investors in Tokyo were also taking a breather.

The Tokyo Stock Exchange's Nikkei-225 index of leading shares fell 6.64 points to 17,484.78. The TOPIX index of all issues on the Tokyo Stock Exchange's first section shed 3.64 points or 0.21 per cent to 1,717.08.

Decliners beat gainers 1,007 to 551, with 168 stocks unchanged.

Volume fell to 1.78 billion shares from 2.14 billion on Thursday.

The softer tone of the yen, as well as a steady close on Wall Street, helped send shares higher in early trade.

Buying, however, ran out of momentum and gave way to broad-based selling by speculators squaring positions ahead of the weekend, dealers said.

“Speculative players sold to square positions ahead of the weekend while many investors stayed on the sidelines in the absence of fresh trading incentives and (ahead of) key US economic data,” said Hiroichi Nishi, an equities official at Nikko Cordial Securities.

Investors want to look closely at the US jobs data following a slew of weak US figures which have fanned jitters over the pace of the US economic slowdown, dealers said.

SEOUL: South Korean share prices edged up 0.14 per cent to hit a record high on sustained foreign investor interest and Wall Street's steady performance overnight, dealers said.

They said that with most markets in the region closed for the Easter holiday, there was no real lead to follow but volume was nonetheless substantial.

Hopes or strong first quarter corporate results have underpinnned the recent advance but this could be tested shortly as the figures come through.

The KOSPI index added 2.11 points at 1,484.15, off a low of 1,477.69 and a high of 1,488.58. Volume was 306.8 million shares worth 3.24 trillion won (3.47 billion dollars). Rises outnumbered falls by 403 to 356.

Foreign and retail investors were net buyers of shares worth 180.5 billion won and 26.3 billion won while institutions were net sellers of 239.4 billion won.

The first-quarter corporate results are expected to come in better than a year ago or a quarter ago, helping the market sustain its record-breaking rally, Shinyoung Securities' analyst Kim Se-Jung said.

KUALA LUMPUR: Malaysian share prices closed little changed in thin trade, with major markets were closed for the Easter holidays and as investors stayed on the sidelines ahead of the weekend, dealers said.

The Kuala Lumpur Composite Index was up 1.44 points or 0.11 per cent at 1,278.92. Gainers led losers 518 to 338, with 318 stocks unchanged. Volume was was 1.47 billion shares worth 1.48 billion ringgit (410 million dollars). Gains led losers 518 to 338, with 318 stocks unchanged.

Trading volume was thin, but this should not be a surprise given that most of the other major markets are on holiday, said Aseambankers Research investment analyst Chiah.—AFP