Sun, Oct 22, 2006 - Page 10 News List

Singapore, Jakarta lead surge on Asian markets

REGIONAL ROUNDUP Bolstered by electronics gains, the TAIEX made strong gains despite relatively low turnover as most investors shrugged off North Korea's nuclear test

AFP , HONG KONG

BANGKOK

Share prices closed at a five-month high as foreign investors chased gains in blue-chip stocks after Wall Street finished above 12,000 points for the first time.

Dealers said a strong performance across the region also helped boost the Thai market.

The composite index rose 4.11 points to 724.98.

JAKARTA

Share prices closed 0.27 percent firmer with late buying in selected major stocks pushing the index to a new record high. Dealers said some investors came back into the market in the afternoon to pick up stocks which have released positive third-quarter results.

The composite index closed up 4.251 points at 1,572.846.

MUMBAI

Share prices fell for a fourth straight session in volatile trade, closing down 0.11 percent as investors took profits.

Trading activity was hectic in private-sector Tata Steel on Friday after Anglo-Dutch steelmaker Corus Group accepted a US$8.07 billion takeover bid from Tata Steel to create what will be the world's fifth-largest steelmaker.

The 30-share SENSEX index fell 14.19 points to 12,709.4.

"We saw strong gains largely led by news events such as the Tata Steel deal. The markets are obviously facing pressure close to the crucial 13,000 level," said R. Balakrishnan, director at Parallex Consultancy Services Ltd.

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