Sun, Jul 17, 2005 - Page 10 News List

Asian markets shrug off gains on Wall Street

MAKING TIMEInvestors took selective profits on Friday as they waited for the release of mid-year corporate reports and key US data, while the overall tone remained positive

AFP , HONG KONG AND TAIPEI

The Shanghai A-share Index fell 14.42 points to 1,078.84, while the Shenzhen A-share Index was down 4.12 points or 1.63 percent at 249.08. The benchmark Shanghai Composite Index, which covers both A- and B-shares, closed down 14.30 points at 1,026.12.

Sydney share prices closed flat on after a day of lackluster end-of-week trading with investors failing to respond to Wall Street's strong overnight gains.

The SP/ASX 200 index finished down 2.7 points at 4,292.4.

Singapore share prices closed flat as the market consolidated multi-year highs this week, with investors taking profits in Creative Technology after the under-pressure MP3 maker rebounded.

The Straits Times Index rose 0.13 points to 2,250.29.

In Kuala Lumpur share prices closed 0.46 percent lower on profit-taking in the blue chips amid continued speculative interest in smaller stocks. The composite index lost 4.22 points to 916.84.

Bangkok share prices closed 0.45 percent lower on profit-taking after a recent gains.

Jakarta share prices closed 0.45 percent lower on profit-taking after a recent gains. The composite index closed down 5.108 points at 1,131.461.

In Manila share prices closed 0.94 percent higher as political tensions sparked by allegations of vote rigging against Philippine President Gloria Arroyo appeared to ease, at least for the moment. The composite index rose 17.62 points to 1,897.08.

Wellington share prices closed 0.12 percent higher, propped up by continuing strength in market leader Telecom. The NZSX-50 gross index rose 4.05 points to 3,325.27.

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