Sun, Oct 14, 2007 - Page 10 News List

Commodities outlook boosts Asian stocks

REGIONAL GLANCE The TAIEX is expected to trade around 9,450 points in the near term after it slumped 2.07 on Friday in response to an overnight decline on the NYSE

BLOOMBERG

SHANGHAI

Chinese share prices closed 0.17 percent lower as the market was hit by profit-taking after touching a new intra-day record high.

Dealers said the volatile trading at one point saw the benchmark Shanghai index slip more than 4.2 percent after meeting with strong resistance near the key 6,000-points level.

The Shanghai Composite Index ended down 9.97 points at 5,903.26.

SEOUL

South Korean share prices closed 1.6 percent lower as investors took Wall Street's decline as a cue to grab profits after record finishes earlier in the week.

The KOSPI index closed down 32.41 points at 2,026.44.

SYDNEY

Australian share prices closed down 0.3 percent as investors locked in gains after a four-day winning streak which propelled the key market indices to record highs.

The S&P/ASX 200 closed down 23 points at 6,748.9.

SINGAPORE

Share prices closed 0.48 percent lower on profit-taking after the benchmark index reached a new all-time high a day earlier.

The Straits Times Index closed down 18.52 points at 3,857.25.

KUALA LUMPUR

Malaysian share prices closed 0.6 percent lower on profit-taking ahead of an extended weekend and amid regional weakness following Wall Street's overnight retreat.

Malaysia will celebrate Eid al-Fitr to mark the end of the Muslim fasting month of Ramadan over the weekend. The market will also be closed on Monday.

The composite index lost 8.36 points to 1,375.25.

BANGKOK

Thai share prices closed 0.23 percent lower, in line with most regional markets, on profit taking after hitting an 11-year high a day earlier.

Dealers said foreign fund inflows continued but on selective buying of big-cap energy stocks following a spike in oil prices.

The composite index shed 2.04 points to 887.02.

Analysts said the index fell on profit taking a day after it hit its highest level since mid-December 1996.

MUMBAI

Indian share prices fell 2.1 percent, snapping three days of gains as investors locked in profits amid weak Asian and overnight US markets.

The Mumbai SENSEX index fell 395.03 points to 18,419.04.

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