Sun, Jan 22, 2006 - Page 10 News List

Traders in Asia consoliate after regional plunge

CAUTIOUSConfidence improved in the wake of the chaos that was sparked by Japan's Livedoor probe, with investors believing that the region's economic fundamentals remain intact

AFP , HONG KONG

The Hang Seng Index closed down 8.34 points at 15,662.08.

Shanghai share prices closed 0.29 percent higher, extending recent solid gains with a modest advance as heavyweight power generators and metal stocks made ground.

The Shanghai A-share Index rose 3.83 points to 1,316.22, while the Shenzhen A-share Index was up 0.53 point or 0.17 percent at 315.30.

The benchmark Shanghai Composite Index, which covers A and B-shares, added 3.73 points or 0.30 percent at 1,255.31, a new nine-month high.

Sydney share prices closed 0.28 percent higher, ending a bumpy week on a positive note as solid overseas leads and strong metal prices provided support. The S&P/ASX 200 added 13.5 points to 4,854.4.

Singapore share prices closed 0.44 percent higher on gains in blue chips such as Singapore Airlines, as regional markets continued to stabilize.

The Straits Times Index rose 10.39 points to 2,388.91.

Malaysian share prices closed 0.30 percent higher due to gains in selected blue chips, with investors consolidating after a mid-week regional plunge.

The composite index gained 2.71 points to 905.41.

In Bangkok share prices closed 0.37 percent higher following reports that the family of Thailand's prime minister looks set to sell its majority stake in telecom giant Shin Corp to a Singapore firm.

The composite index gained 2.72 points to 747.70.

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