Sun, Mar 05, 2006 - Page 10 News List

Asia echoes lackluster performance of US stocks

REPERCUSSIONS Taipei share prices shed 1.34 percent on Friday as investors locked in profits amid concern over the political effects of President Chen Shui-bian's NUC moves

AFP , HONG KONG

The composite index closed up 11.587 points at 1,261.265 on volume of 1.35 billion shares.

In Manila share prices closed 0.34 percent lower as profit-taking set in after a four-day rally.

The composite index slipped 7.24 points to 2,130.37.

Wellington share prices closed flat as gains in market leader Telecom were offset by losses in other heavyweights.

The NZSX-50 gross index rose 0.23 points to 3,407.55.

Mumbai share prices fell 0.30 percent, breaking a four-day winning streak amid lacklustre trading and profit taking in blue-chip stocks.

Dealers said telecommunication stocks bucked the trend, rising on media reports following a Supreme Court ruling barring state governments from collecting sales tax from telecom service providers.

The 30-share SENSEX fell 31.35 points to 10,595.43.

"Trading sentiment was cautious at this stage with investors not keen to build up positions ahead of the weekend. We expect markets to remain rangebound next week," said Soumeel Chaterjee of brokerage KJMC Capital Market Services.

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