Asian stocks end mixed
HONG KONG, Dec 27: Asian stocks closed mixed on Tuesday with Seoul defying the overall trend and finishing at another record peak while elsewhere trade remained thin ahead of New Year celebrations. Mumbai was also solid with 2.17 gain and Bangkok was 0.73 per cent higher on speculation Thai Petrochemical Industry will soon complete its restructuring.
However, dealers said many markets, particularly Tokyo, where struck by profit takers seeking to cash-up before 2006 gets underway while a lack of leads from Wall Street due to Christmas added to the restricted tone.
This resulted in Shanghai and Manila also losing ground, Taipei was flat while Singapore and Kuala Lumpur registered only minor technical gains.
Hong Kong, Sydney and Wellington remained closed for the Christmas holidays.
TOKYO: Share prices closed down 0.86 per cent as investors locked in profits a day after the market ended above 16,000 for the first time for over five years.
Dealers said investor sentiment took a hit on reports the Tokyo Stock Exchange may tighten certain trading rules, while some players moved to sell shares so as to pocket their winnings by the end of the year.
The benchmark Nikkei-225 index dropped 138.27 points to 15,969.40, a day after closing at the highest level since October 5, 2000.
The broader TOPIX index of all first-section shares closed down 11.01 points or 0.67 per cent at 1,637.93 on turnover of 1.78 billion shares.
“After (the Nikkei) topped 16,000, some investors thought they had to sell now,” said Ryuta Otsuka, a strategist at Toyo Securities.
SINGAPORE: Share prices closed flat in thin post-Christmas trading with prices supported by gains in technology stocks on the first trading day after a holiday on Monday.
Chartered was up 0.04 at 1.31, STATS ChipPAC gained 0.02 to 1.13, UTAC added 0.02 at 0.745, Venture climbed 0.10 to 13.80 and Creative Technology jumped 0.10 to 13.50.
KUALA LUMPUR: Share prices closed 0.27 per cent higher as late demand partially reversed a downward trend seen over most of the trading session.
Among blue chips, Tenaga Nasional was unchanged at 9.90 ringgit, while Telekom Malaysia and Maybank were both up 0.10 at 9.60 and 11.10, respectively.
<> JAKARTA: Share prices closed up 0.29 per cent led by blue-chip Bank Mandiri and Indosat and gains in gold miner Antam.
“Bank Mandiri rose on the back of the Kiani reports, which were positive for the stock,” said Dongsuh Kolibindo Securities branch manager Hendra Riyadi.
State-owned Bank Mandiri added 40 rupiah to close at 1,640 while its peer Bank Rakyat Indonesia dropped 25 to 2,975 and Bank Central Asia also fell 25 to 3,350.
MUMBAI: Share prices rebounded 2.17 per cent as investors bought blue chips amid moderate volumes, after two day’s of sharp losses triggered by year-end sales.
The Mumbai stock exchange’s 30-share Sensex rose 197.27 points to close at 9,283.16. Volumes were 30.01 billion rupees (US $664 million).—AFP