Sun, Apr 01, 2007 - Page 10 News List

Middle East tensions limit gains on Asian bourses

SIDELINES Wall Street's overnight gains offset profit-taking and technical pressure in Taipei, where traders tried to refrain from rocking the boat ahead of the weekend

AFP , HONG KONG

Dealers said the market got off to a firm start following Wall Street's overnight gains but the early interest weakened in late trade.

The KOSPI index closed up 1.60 points at 1,452.55.

SHANGHAI

Share prices closed mixed as the Shanghai market was hit by profit-taking in the banks while Shenzhen rose on interest in steelmakers.

Dealers said some profit-taking was to be expected after the market's seven-day record-breaking run and the reverse in Shanghai did not appear substantial.

The Shanghai Composite Index was down 13.55 points at 3,183.98.

"The Shanghai market was under pressure from profit-taking in banking stocks, with investors becoming cautious after the key index's gains over the past nine trading days," said Wang Sai, an analyst at Wanguo Consulting.

SYDNEY

Share prices closed 0.57 percent higher in heavy trading, buoyed by merger and acquisition activity in the media and energy sectors.

The SP/ASX 200 closed up 34.1 points at 5,995.

SINGAPORE

Share prices closed slightly higher with late buying of blue chips.

The Straits Times Index closed up 2.36 points at 3,231.24 on volume of 1.78 billion shares.

KUALA LUMPUR

Share prices closed 0.89 percent higher led by blue chips and property stocks, with the gains also seen as a technical rebound after a mid-week sell-off. The composite index rose 10.98 points to 1,246.87.

"The market was up mainly on a technical rebound after the sell-off mid-week," an analyst from a local investment house said.

BANGKOK

Share prices closed 0.31 percent higher, led by gains in energy-linked shares as oil prices continued to climb due to rising tensions over Iran's seizure of British military personnel.

But dealers said the broader market was kept in check due to political worries in Thailand as anti-junta protesters planned to go ahead with a rally in Bangkok despite security warnings.

The composite index rose 2.09 points to 673.71.

MUMBAI

Share prices closed up 0.71 percent as buying picked up in mid and small-cap stocks following data showing lower than forecast inflation.

Dealers said sentiment also improved on bargain-hunting and a smooth rollover of most stock positions to the next futures market contract which began on Friday.

The 30-share Mumbai SENSEX index rose 92.44 points to 13,072.1.

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