Asian stocks close flat

Published December 8, 2006

HONG KONG, Dec 7: Asian stocks closed flat to lower on Thursday after a lacklustre Wall Street performance offered no support ahead of key US and Japanese economic data due out Friday, dealers said.

They said there was some profit-taking as investors adjusted positions, with sentiment cautious after a series of steady but muted US employment figures.

TOKYO: Japanese share prices closed higher for a second day in a row as investors welcomed a more stable dollar which eased concerns about the outlook for exporter earnings, dealers said.

The Tokyo Stock Exchange's benchmark Nikkei-225 rose 102.08 points or 0.62 per cent to 16,473.36, after touching a high of 16,550.73.

HONG KONG: Hong Kong share prices closed sharply lower, losing 0.96 per cent, led down by China Mobile as reports of a share sale by a major investor led to increased profit-taking in the telecoms firm in late trade, dealers said.

SYDNEY: Australian share prices closed flat, with a lacklustre Wall Street providing no lead and lower base metal prices prompting investors to sell the resources, dealers said.

The benchmark SP/ASX 200 eased 1.5 points to 5,465.2 while the broader All Ordinaries Index slipped 3.0 points to 5,450.6.

SINGAPORE: Singapore share prices closed up 0.23 per cent but were off a record intra-day high after early gains were led by blue-chip Singapore Telecommunications, dealers said.

KUALA LUMPUR: Malaysian share prices closed flat in cautious trade after the release of weaker-than-expected October industrial output data, dealers said.

JAKARTA: Indonesian share prices closed 0.13 per cent lower as profit-taking in major stocks led by Telkom and Astra International offset gains in the broader market, dealers said.

WELLINGTON: New Zealand share prices closed little changed as investors marked time in a market with no significant leads, dealers said.

MUMBAI: Indian share prices closed at a fifth straight record high Thursday, edging ahead in choppy trade as the market faced strong resistance in getting through the key 14,000 points level, dealers said.—AFP

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