Sun, May 08, 2005 - Page 10 News List

Asian stocks make solid gains in cautious trading

TECHNICAL BOUNCE Taiwanese share prices extended gains as interest from foreign investors offset early losses after Wall Street's weaker performance overnight

AFP , HONG KONG

The SP/ASX 200 was up 27.2 points to 3,983.3, while the broader All Ordinaries closed up 24.8 points at 3,939.8.

Singapore share prices closed 0.6 percent higher as investors shrugged off a fall in US stocks and bought select blue chips such as Keppel Corp, dealers said.

The Straits Times index rose 13.12 points to 2,161.22.

Malaysian share prices closed closed 0.31 percent lower, led down by profit-taking in blue chips after recent gains, dealers said.

Trade was quiet as investors were reluctant to take positions ahead of the weekend. The Kuala Lumpur Composite Index closed down 2.84 points at 901.22.

Thai share prices closed 2.12 percent higher on speculative buying in real sector stocks in anticipation of good first quarter earnings, dealers said.

The Stock Exchange of Thailand (SET) composite index rose 14.33 points to 689.36 points and the bluechip SET-50 index gained 10.84 points at 480.85.

Indonesian share prices closed 1.78 percent higher led by blue chips such as Telkom and Indosat on an extended rebound, with gains in the rupiah supporting market sentiment, dealers said.

The Jakarta Stock Exchange composite index was up 18.696 points at 1,068.275.

Philippine shares prices closed 1.09 percent higher, extending gains as investors look to strong corporate results for their lead rather than concerns about the economic and fiscal outlook, dealers said.

The Philippine Stock Exchange composite index put on 20.57 points to 1,913.77 for the best finish since April 13.

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