Sun, Sep 10, 2006 - Page 10 News List

Asian bourses wiggle up amid cautious trading

TIMID MARKETS Analysts said that a bombing in Kabul and worries over US interest rates kept traders in the region from taking more aggressive positions


China Construction Bank (CCB), Hong Kong Exchange and Clearing (HKEx) and Foxconn will join Hang Seng Index constituents from tomorrow and these stocks all attracted support accordingly.

Dealers said said select property and finance stocks also drew interest although the gains were capped due to caution ahead of the weekend.

The Hang Seng Index was up 49.32 points at 17,145.76, off a low of 17,070.91 and a high of 17,171.54. For the week the index was down 277.96 points or 1.6 percent.

CCB, HKEx and Foxconn will join the HSI from tomorrow, while Lenovo and Johnson Electric will be removed from the index. The changes will take the number of HSI constituent stocks to 34 from 33 currently.

Foxconn closed up HK$0.50 at HK$23.05, China Construction Bank was up HK$0.02 at HK$3.42 and HKEx added HK$1.10 at HK$54.95 while Lenovo lost HK$0.08 to HK$2.78 and Johnson Electric was down HK$0.11 at HK$5.80.

Chan said the focus next week will be on stocks whose weightings on the HSI will change following the index reshuffle.

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