Sun, Feb 18, 2007 - Page 5 News List

Asian stocks tend lower in advance of Lunar New Year

AFP , HONG KONG

SYDNEY

Share prices fell 0.65 percent as investors locked in profits to break a three-session, record-breaking run.

The SP/ASX 200 ended down 39.1 points at 5,953.7. A total of 1.64 billion shares worth A$5.66 billion (US$4.4 billion) were traded.

ABN Amro Morgans Brisbane director of equities Bill Chatterton said profit-taking was the major factor behind the market's weak close after the index briefly touched 6,000 points for the first time during Thursday's session.

"Generally, reporting season results have been pretty good, but today a little bit of money came off the top," Chatterton said. "But we shouldn't read anything too negative into it."

Chatterton said falls in several major banks led the market down.

SINGAPORE

Share prices closed 0.48 percent lower as investors locked in gains ahead of the Lunar New Year break.

The Straits Times Index (STI) fell 15.56 points to 3,236.93 on volume of 1.65 billion shares valued at S$1.78 billion (US$1.16 billion).

KUALA LUMPUR

Share prices closed 0.27 percent higher as investors bought on expectations the market would reopen higher next Wednesday for a post-Lunar New Year rally.

The composite index gained 3.46 points to 1,262.09 on volume of 2.82 billion shares worth 2.75 billion ringgit (US$785.71 million).

BANGKOK

Share prices closed 0.84 percent lower as investors took profits ahead of Lunar New Year.

The composite index fell 5.85 points to 688.01 on turnover of 1.2 billion shares worth 8.5 billion baht (US$240 million).

JAKARTA

Share prices closed 0.22 percent higher, with gains in Telkom and mining stocks helping offset losses from late profit-taking.

The composite closed down 3.958 points at 1,794.363. Volume was 2.08 billion shares valued at 3.26 trillion rupiah (US$360 million).

MANILA

Share prices closed 1.36 percent lower, snapping a strong two-day advance, as investors locked in gains after the key index hit a 10-year high.

The composite index gave up 45.81 points to 3,333.56. Turnover was 5.8 billion shares worth 6.5 billion pesos (US$135 million).

WELLINGTON

Share prices closed 0.31 percent lower as the corporate results season appeared to point to tougher trading conditions ahead.

The NZX-50 index fell 12.78 points to 4,179.89 on turnover worth NZ$126.72 million (US$87.34 million).

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