Sun, Apr 22, 2007 - Page 10 News List

Asian stocks rebound, but traders keep eye on China

SETTING THE TONE A regional recovery in the absence of an immediate tightening of China's monetary policy helped propel the TAIEX 54.04 points higher on Friday

AFP , HONG KONG

Dealers said shares bounced back strongly as investors snapped up financial, property and steel stocks after the market lost 4.5 percent Thursday in nervous trade ahead of the release of China's first-quarter economic growth data.

The Shanghai Composite Index closed 135.19 points higher at 3,584.20.

SYDNEY

Share prices rose 0.69 percent as a positive lead from Wall Street helped the banking and resource sectors bounce back from sharp losses on Thursday.

The SP/ASX 200 closed up 42.4 points at 6,207.5.

SINGAPORE

Share prices closed 2.11 percent higher on a technical rebound after steep losses triggered by fears of credit-tightening measures in China.

The Straits Times Index closed up 69.39 points at 3,360.67.

MUMBAI

Share prices rose 2.03 percent on improved fund buying after two of India's top software exporters gave higher fourth quarter earnings.

Dealers said the markets could gain further next week despite concerns of a tightening in monetary policy by India's central Reserve Bank next Tuesday.

The 30-share Mumbai SENSEX gained 277.71 points to 13,897.41.

This story has been viewed 1852 times.
TOP top