Sun, Jun 12, 2005 - Page 10 News List

Chipmakers add gloss to Asian markets

REGIONAL TRADE Investors took heart from positive news from the US on Friday, with Taipei, Singapore, Tokyo and Seoul leading the push into positive territory

AFP , HONG KONG

The combined foreign investor holding in Samsung Electronics has fallen to around 54 percent from 60 percent last year. Samsung Electronics was up 11,500 won to 491,500 won.

LG Electronics shed 900 won to 70,600, LG Philips LCD was down 1,000 won to 51,400 and Samsung SDI declined 600 won to 98,300.

Hong Kong share prices closed 0.26 percent higher. The Hang Seng Index closed up 36.45 points at 13,934.76.

Share prices closed 2.02 percent lower in Shanghai on profit-taking in a broad correction after recent sharp gains, with metal firms and petrochemical producers leading the decline. The Shanghai A-share Index shed 23.97 points to 1,163.43, while the Shenzhen A-share Index was down 6.62 points at 280.58.

The benchmark Shanghai Composite Index, which covers both A and B-shares, closed down 22.77 points at 1,108.29.

Share prices closed marginally higher in Sydney as energy stocks lifted an otherwise subdued market.

The benchmark SP/ASX 200 index closed up 7.7 points or 0.18 percent at 4,221.7. The broader All Ordinaries closed up 11.1 points at 4,180.0.

In Jakarta, share prices closed 0.25 percent higher in thin trade, with gains in select blue chips offsetting the broader market's fall. The composite index closed up 2.743 points at 1,096.932.

Singapore share prices closed 0.96 percent higher on interest in blue chips and semiconductor stocks after US chip giant Intel upgraded its quarterly guidance. The Straits Times Index rose 21.87 points to 2,220.43.

Malaysian shares prices closed 1.21 percent higher, supported by positive comments from investment bank JP Morgan that the benchmark index could hit 980 points by the year's end. The composite index closed up 10.62 points at 890.02.

Thai share prices closed 0.41 percent higher on helped by last minute speculation in communication stocks. The composite index added 2.78 points to close at 679.98 points.

In Manila, share prices closed 2.05 percent higher on a technical bounce after three days of sharp falls but concerns over rumors of a coup attempt against President Gloria Arroyo remain. The composite index rose 38.94 points to 1,937.18.

In Wellington, share prices closed 0.39 percent lower after the three leading stocks all lost ground. The NZSX-50 gross index fell 12.00 points to 3,079.22.

Indian share prices fell 0.74 percent despite a firm regional trend as investors booked profits ahead of the weekend in recent gainers such as in the software and banking sectors, dealers said. The exchange's 30-share SENSEX shed 50.54 points to 6,781.99.

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