Sun, Nov 05, 2006 - Page 10 News List

Taipei leads pack as Asian exchanges close higher

`ROTATIONAL INTEREST' Positive sales reports from Taiwanese chipmakers and electronics component suppliers offset the effect of Wall Street's weak performance

AFP , HONG KONG

Dealers said that, following a very modest pause on Thursday, the market was on the move again, powered by continued fund inflows and further gains in the yuan, with investors confident that stocks still have further to go.

The Shanghai A-share Index added 15.81 points to 1,960.84 and the Shenzhen A-share Index was up 2.38 points or 0.51 percent at 467.60.

The Shanghai Composite Index, which covers A and B-shares, rose 15.05 points or 0.81 percent at 1,866.36.

SYDNEY

Share prices closed up 0.42 percent at a record high after the country's largest bank reported its best ever full-year earnings, boosting market sentiment.

Dealers said National Australia Bank's results helped offset concerns about the outlook for the US economy following a series of weaker-than-expected data.

The SP/ASX 200 rose 22.6 points to 5,432.0.

SINGAPORE

Share prices closed 0.32 percent lower as the market consolidated following recent strong gains.

Dealers said investors are waiting for more positive cues from quarterly corporate profit results which are due to be released in the next two weeks.

The Straits Times Index (STI) fell 8.67 points to 2,722.31.

Dealers said the consolidation provides a healthy breather for the market, as the STI been rallying to fresh record levels in recent weeks. The market momentum remains intact, but will need a very strong catalyst to push share prices higher at current levels, they said.

KUALA LUMPUR

Share prices closed 0.28 percent higher with the key index firmer on continued interest in selected blue chips in the banking and plantations sectors.

Dealers said profit-taking activity kept the market in check after the main index hit the 1,000 level during the day.

The Kuala Lumpur Composite Index closed up 2.77 points at 998.02, after touching an intraday high of 1,000.06.

BANGKOK

Share prices closed at a six-month high as investors saw Thai Prime Minister Surayud Chulanont's first speech to parliament as a fresh sign of political normalcy following a September coup. The composite index rose 3.27 points to 732.30.

Dealers said investors chased gains in the property and banking sectors amid hopes for stable interest rates here on the back of falling global oil prices.

WELLINGTON

Share prices closed 0.54 percent higher, led by a strong show of support for top stock Telecom.

The NZX-50 index was up 20.4 points at 3,778.41.

MUMBAI

Share prices closed at a third straight record high, recovering from early sluggishness as funds sought benchmark index companies in the oil and media sectors.

Dealers said buying momentum was strong on positive Asian market trends and the closure of a strong earnings season for the quarter ended September.

The 30-share SENSEX index rose 39.67 points or 0.30 percent to 13,130.79.

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