Sun, Nov 11, 2007 - Page 10 News List

Asian stocks fall amid mounting credit-market losses

REGIONAL VIEW Many investors were scared enough to cash out of the Taiwanese market after a big decline in margin lending positions on Thursday, analysts said

BLOOMBERG AND AFP , HONG KONG

SHANGHAI

Chinese share prices closed 0.27 percent lower after a volatile session amid heightening concerns the local economy faces risks from inflation and the global credit crunch.

The Shanghai Composite Index, covering A and B shares, fell 14.48 points to 5,315.54.

SEOUL

South Korean shares closed higher after erratic trading, lifted by bargain hunting in banks that had been battered by fallout from the US credit crisis.

The KOSPI index ended 10.91 points or 0.6 percent higher at 1,990.47.

SYDNEY

Australian shares closed 0.4 percent higher Friday after a takeover bid from mining giant BHP Billiton for rival Rio Tinto supported resources stocks.

The benchmark S&P/ASX 200 closed up 24.1 points at 6,545.7 after peaking at 6,605.1.

SINGAPORE

Share prices finished 2.0 percent lower, dragged down by concerns of a slowdown in the United States economy.

The Straits Times Index dropped 73.34 points to 3,599.67.

KUALA LUMPUR

Malaysian share prices slipped 0.8 percent after Bernanke's grim assessment of the US economy prompted a wave of profit-taking.

The composite index eased 11.60 points to 1,402.25.

BANGKOK

Thai share prices closed marginally higher on speculative buying of big-cap energy stocks after oil prices surged once again in Asian trading.

The composite index added 1 point, or 0.11 percent, to 874.64.

JAKARTA

Indonesian share prices closed 1.1 percent higher buoyed by gains by miners and oil producers on expectations rising commodity prices will boost earnings this year.

The composite index closed up 29.44 points at 2,707.67.

MANILA

Philippine share prices closed 0.3 percent higher at the end of a volatile week amid soaring oil prices and a gloomy outlook for the US economy.

Dealers said solid gains in mining stocks offset losses in the broader market.

The composite index added 11.56 points to 3,703.66.

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