Sun, Aug 21, 2005 - Page 10 News List

Investors stick to sidelines in subdued Asian trading

NO LEADS In Taipei share prices shed 0.74 percent on concerns about high oil prices, with investor sentiment dampened by a wrangle over the local market's stauts

AFP , HONG KONG

In Shanghai share prices closed flat, or 0.19 percent higher with Internet companies boosted by rotational buying and banks encouraged by solid first-half earnings result. The Shanghai A-share Index rose 2.27 points to 1,208.56, while the Shenzhen A-share Index was up 0.26 points or 0.09 percent at 283.55.

The benchmark Shanghai Composite Index, which covers A and B-shares, closed up 2.15 points or 0.19 percent at 1,150.18.

Australian share prices closed 0.42 percent higher, boosted by bargain hunting following a sell-off the previous day.

Dealers said gains by the resources sector, which suffered the brunt of Thursday's sell-off, saw the market end the week on a positive note.

The SP/ASX 200 index finished the day 18.7 points higher.

Singapore share prices closed flat, or 0.16 percent higher on gains in bellwether stock Singapore Telecommunications and other blue chips.

Dealers said gains in heavyweight stocks were mostly small and sentiment remained subdued because of concerns over oil prices which remained above 60 US dollars a barrel.

The Straits Times index gained 3.66 points to 2,286.36.

Malaysian share prices closed flat, or 0.21 percent higher in range-bound trade, with bargain-hunting alternating with profit-taking throughout the day. The composite index was up 1.9 points at 925.54.

Bangkok share prices shrugged off regional negative sentiment and closed 1.31 percent higher as local institutional investors bought into bluechip stocks, dealers said. The composite index gained 8.81 points to 680.83.

In Jakarta share prices closed 1.12 percent lower amid rising concerns over the rupiah's extended fall and a lack of positive leads. The composite index closed down 12.346 points at 1,087.953.

In Manila share prices closed 0.65 percent down at a three-week low amid worries about the impact of high oil prices on corporate bottom lines.

The composite index shed 12.79 points to 1,966.33.

In Wellington share prices closed 0.30 percent lower, slipping into negative territory despite interest in forestry giant Carter Holt Harvey, the target of a full takeover bid. The NZSX-50 Index fell 9.94 points to 3,356.58.

In Mumbai share prices fell 0.39 percent as mutual funds booked profits at higher levels amid weakening sentiment in regional markets.

The SENSEX index closed down 30.57 points at 7,780.76.

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