Sun, Jun 03, 2007 - Page 10 News List

Asian markets shrug off fears of sell-off in China

REGIONAL ROUNDUP Taipei ended the week close to a seven-year high as trading turned aggressive in the wake of jitters over a possible sell-off in Chinese equities

AFP , HONG KONG

SYDNEY

Share prices closed 0.32 percent higher as fears that this week's losses on Chinese markets would spark a global sell-off eased.

Dealers said overnight gains in base metal prices helped the all important resources sector while a steadier performance on the Chinese markets -- at least while Australia was open -- helped sentiment.

The S&P/ASX 200 closed up 20.0 points at 6,333.5.

SINGAPORE

Share prices closed 1.06 percent higher on the back of strong gains in banks and other blue chips, with the Straits Times index touching a new intraday high.

Dealers said that investor sentiment was buoyed by comments from analysts at leading financial houses, who said the Chinese economy is likely to hold despite measures by Beijing to cool the market.

The index closed up 37.19 points at 3,548.32.

KUALA LUMPUR

Share prices closed 0.98 percent higher on follow-through buying in line with regional gains, dealers said. The composite index gained 13.18 points to 1,360.07.

BANGKOK

Share prices closed up 2.24 percent at a year high as investors welcomed a court ruling disbanding Shinawatra's party and barring him from politics.

Dealers said the market bucked a trend of rising regional markets.

The composite index jumped 16.53 points to 753.93.

MUMBAI

Share prices rose 0.18 percent in choppy trade a day after India's economy grew a faster than expected 9.4 percent in the year to March.

Dealers said fertilizer stocks rose as the annual monsoon rains, crucial for the country's farmers, advanced north.

The 30-share SENSEX rose 26.29 points to 14,570.75.

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