Asia-Pacific markets
Tuesday, 19 May 2009
HONG KONG, May 18 (AFP): Asia's markets were mixed Monday as economic fears resurfaced, while an outbreak of swine flu in Japan caused jitters among dealers and profit-takers took advantage of last week's strong finish.
TOKYO: Down 2.44 per cent. The Nikkei-225 lost 226.33 points to end at 9,038.69.
The market was hit by weak corporate earnings last week, dealers said.
The yen rose to a two-month high against the dollar. The greenback traded below 95 yen, a key level at which most exporters have based their earnings outlooks for the fiscal year.
Sony fell 5.83 per cent to 2,420 yen. Panasonic slumped 7.62 per cent to 1,344 yen.
Mizuho Financial lost 3.79 per cent to 228.
HONG KONG: Up 1.38 per cent. The Hang Seng Index ended up 232.21 points at 17,022.91.
The index has gained 9.7 per cent since the beginning of the month.
The gains came despite figures Friday showing Hong Kong's economy contracted 7.8 per cent in the first quarter from a year earlier, worse than the previous quarter's 2.6 per cent fall, on plunging exports and weak private consumption.
Ernie Hon, a strategist at ICEA Securities, told Dow Jones Newswires: "Sentiment over the China market remains bullish and the liquidity influx remains strong. Therefore, we don't expect a substantial correction to take place immediately."
New World Development rose 6.9 per cent to 12.76 dollars and Sino Land jumped 4.1 per cent to 11.30 dollars.
SYDNEY: Down 1.0 per cent. The S&P/ASX200 index lost 37.6 points to 3,735.6.
The market eased as it took a breather after a weak lead from offshore and a series of local capital raisings, dealers said.
SHANGHAI: Up 0.28 per cent. The Shanghai Composite Index, which covers A and B shares, was up 7.52 points at 2,652.78.
The market rebounded from early lows as coal and power producers offset losses in financial and real estate stocks, dealers said.
Power firms gained as China Yangtze Power announced it would increase its stake in the Three Gorges Project by buying the world's largest power project's remaining 18 power generators for 15.7 billion dollars, traders said.
China Yangtze Power rose 4.1 per cent to 14.94 yuan after hitting its 10 per cent daily limit in the session.
China Merchants Bank dropped 0.8 per cent to 17.03 yuan. China Vanke was 2.5 per cent lower at 10.15 yuan.
TAIPEI: Up 1.37 per cent. The weighted index rose 88.72 points to 6,577.81.
The rise came after Chinese state media said Beijing would push mainland businesses to invest in the island amid warming cross-strait ties, dealers said.
Kee Tai Properties rose 6.95 per cent to 14.60 dollars and Goldsun Development added 6.60 per cent to 16.15.
Taiwan Cement rose 4.45 per cent to 34.00 and China Steel added 2.79 per cent to 27.65.
SEOUL: Down 0.36 per cent. The KOSPI lost 5.05 points to 1,386.68.
Investors were looking ahead to key US data due this week, dealers said.
SINGAPORE: Up 1.55 per cent. The blue-chip Straits Times Index (STI) gained 33.14 points to 2,172.92.
Investors ignored data released earlier Monday showing April's non-oil domestic exports tumbling 19.2 per cent from the year before-its 12th straight month of decline.
KUALA LUMPUR: Down 0.2 per cent. The Kuala Lumpur Composite Index dropped 2.20 points to 1,012.01.
BANGKOK: Up 1.18 per cent. The Stock Exchange of Thailand gained 6.30 points to close at 540.22.
Mayuree Chowvikran, senior vice president at Kim Eng Securities, said morning trade fell in line with Asian markets.
JAKARTA: Up 3.01 per cent. The Jakarta Composite Index rose 52.65 points to 1,803.56.
MANILA: Down 1.3 per cent. The composite index lost 29.33 points to 2,279.37.
WELLINGTON: Down 0.47 per cent. The NZX-50 index was 13.04 points lower at 2,777.86.
"The falls are not right across the board. It is a mixed market," Stephen Wright of ASB Securities said.
Market leader Telecom lost two cents to 2.58 dollars, while Contact Energy was up one cent at 6.00 and Fletcher Building rose six cents to 6.69.
TOKYO: Down 2.44 per cent. The Nikkei-225 lost 226.33 points to end at 9,038.69.
The market was hit by weak corporate earnings last week, dealers said.
The yen rose to a two-month high against the dollar. The greenback traded below 95 yen, a key level at which most exporters have based their earnings outlooks for the fiscal year.
Sony fell 5.83 per cent to 2,420 yen. Panasonic slumped 7.62 per cent to 1,344 yen.
Mizuho Financial lost 3.79 per cent to 228.
HONG KONG: Up 1.38 per cent. The Hang Seng Index ended up 232.21 points at 17,022.91.
The index has gained 9.7 per cent since the beginning of the month.
The gains came despite figures Friday showing Hong Kong's economy contracted 7.8 per cent in the first quarter from a year earlier, worse than the previous quarter's 2.6 per cent fall, on plunging exports and weak private consumption.
Ernie Hon, a strategist at ICEA Securities, told Dow Jones Newswires: "Sentiment over the China market remains bullish and the liquidity influx remains strong. Therefore, we don't expect a substantial correction to take place immediately."
New World Development rose 6.9 per cent to 12.76 dollars and Sino Land jumped 4.1 per cent to 11.30 dollars.
SYDNEY: Down 1.0 per cent. The S&P/ASX200 index lost 37.6 points to 3,735.6.
The market eased as it took a breather after a weak lead from offshore and a series of local capital raisings, dealers said.
SHANGHAI: Up 0.28 per cent. The Shanghai Composite Index, which covers A and B shares, was up 7.52 points at 2,652.78.
The market rebounded from early lows as coal and power producers offset losses in financial and real estate stocks, dealers said.
Power firms gained as China Yangtze Power announced it would increase its stake in the Three Gorges Project by buying the world's largest power project's remaining 18 power generators for 15.7 billion dollars, traders said.
China Yangtze Power rose 4.1 per cent to 14.94 yuan after hitting its 10 per cent daily limit in the session.
China Merchants Bank dropped 0.8 per cent to 17.03 yuan. China Vanke was 2.5 per cent lower at 10.15 yuan.
TAIPEI: Up 1.37 per cent. The weighted index rose 88.72 points to 6,577.81.
The rise came after Chinese state media said Beijing would push mainland businesses to invest in the island amid warming cross-strait ties, dealers said.
Kee Tai Properties rose 6.95 per cent to 14.60 dollars and Goldsun Development added 6.60 per cent to 16.15.
Taiwan Cement rose 4.45 per cent to 34.00 and China Steel added 2.79 per cent to 27.65.
SEOUL: Down 0.36 per cent. The KOSPI lost 5.05 points to 1,386.68.
Investors were looking ahead to key US data due this week, dealers said.
SINGAPORE: Up 1.55 per cent. The blue-chip Straits Times Index (STI) gained 33.14 points to 2,172.92.
Investors ignored data released earlier Monday showing April's non-oil domestic exports tumbling 19.2 per cent from the year before-its 12th straight month of decline.
KUALA LUMPUR: Down 0.2 per cent. The Kuala Lumpur Composite Index dropped 2.20 points to 1,012.01.
BANGKOK: Up 1.18 per cent. The Stock Exchange of Thailand gained 6.30 points to close at 540.22.
Mayuree Chowvikran, senior vice president at Kim Eng Securities, said morning trade fell in line with Asian markets.
JAKARTA: Up 3.01 per cent. The Jakarta Composite Index rose 52.65 points to 1,803.56.
MANILA: Down 1.3 per cent. The composite index lost 29.33 points to 2,279.37.
WELLINGTON: Down 0.47 per cent. The NZX-50 index was 13.04 points lower at 2,777.86.
"The falls are not right across the board. It is a mixed market," Stephen Wright of ASB Securities said.
Market leader Telecom lost two cents to 2.58 dollars, while Contact Energy was up one cent at 6.00 and Fletcher Building rose six cents to 6.69.