Asian stocks end higher
Sunday, 6 September 2009
HONG KONG, Sept 5 (AFP): Asian shares mostly rose Friday as gains in Shanghai lifted other markets but concerns about a key jobs report out of the United States later weighed on sentiment.
Shanghai picked up 0.58 per cent-adding to its near five per cent rise Thursday-as investor jitters over tightening credit were eased by regulators.
China's advance led Hong Kong to a 2.82 per cent gain, while Sydney added 0.13 per cent and Taipei 0.68 per cent.
TOKYO: Down 0.27 per cent. The Nikkei-225 dropped 27.53 points to 10,187.11.
"The Japanese market won't move much unless Wall Street, Shanghai and (the) dollar/yen" exchange rate are all rising, Mizuho Securities market analyst Yukio Takahashi told Dow Jones Newswires. A stronger yen is bad for Japan's exports.
Daiwa Securities Group tumbled 6.1 per cent to 508 yen in response to reports it is set to end a joint venture with Sumitomo Mitsui Financial Group in wholesale brokerage services.
Sumitomo Mitsui shares declined 2.1 per cent to 3,770 yen.
HONG KONG: Up 2.82 per cent. The Hang Seng Index finished 556.94 points higher at 20,318.62.
The market was boosted after China's foreign-exchange regulator said on Friday it plans to raise the maximum investment quota for Qualified Foreign Institutional Investors to 1 billion from 800 million US dollars, in an apparent attempt to attract investment.
Analysts said the move signalled Beijing's unease with the local stockmarket's recent slump.
Mainland developers, the major beneficiary of relaxed credit policies, continued to be the biggest gainers.
SYDNEY: Up 0.13 per cent. The S&P/ASX 200 added 5.9 points to 4,435.5.
"Obviously (the) employment data out of the US will be keenly watched, with forecasts calling for job losses of 233,000," said Ben Potter, a research analyst at IG Markets.
Rio Tinto iron ore chief executive Sam Walsh said Friday the company suspended iron ore price talks with China following the arrest of Australian executive Stern Hu and three colleagues.
BHP Billiton saw its shares fall by 0.21 per cent to 36.62 dollars, while Rio was down 0.25 per cent at 55.25.
SHANGHAI: Up 0.58 per cent. The Shanghai Composite Index, which covers A and B shares, was up 16.59 points to 2,861.61.
The index has been buoyed by securities regulators' assurances about market stability, but analysts said the outlook remained uncertain with no concrete measures from the authority.
The market sank 22 per cent in the past month after hitting a 2009 intraday peak of 3,478.01 on August 4.
Banks led gains, with Industrial and Commercial Bank of China rising 1.1 per cent to 4.80 yuan.
SEOUL: Down 0.29 per cent. The KOSPI lost 4.63 points to close at 1,608.90.
"The recent sharp rise in leading technology and auto stocks drove investors to cash in profits," Park Sung-Hun of Woori Investment and Securities said.
TAIPEI: Up 0.68 per cent. The weighted index rose 48.48 points to 7,153.13.
The market opened higher as investors took their cue from Wall Street's rise and interest in large cap electronic stocks helped the broader market fend off profit taking, dealers said.
Smartphone maker HTC rose 5.92 per cent to 367.00 dollars after the company and US wireless carrier Sprint Nextel announced they would release a touch-screen mobile phone in October.
Acer added 2.44 per cent to 79.90 and chip designer MediaTek gained 2.32 per cent to 529.00 dollars.
United Microelectronics Corporation added 5.17 per cent to 15.25.
SINGAPORE: Up 0.94 per cent. The Straits Times Index rose 24.33 points to 2,622.69.
Singapore Airlines put on 12 cents to 12.76 dollars, Singapore Telecommunications was 11 cents stronger at 3.27 and Keppel Corporation fell eight cents to 7.62.
DBS Group Holdings rose six cents to 12.82 and United Overseas Bank was steady at 16.98.
BANGKOK: Up 0.43 per cent. The Stock Exchange of Thailand gained 2.87 points to close at 668.41.
KUALA LUMPUR: Up 0.43 per cent. The Kuala Lumpur Composite Index gained 5.08 points to 1,178.74.
Maybank rose 1.3 per cent to 6.48 ringgit while state telecoms giant TM climbed 3.5 per cent to 3.24 ringgit.
Construction firm IJM fell 3.0 per cent to 5.82 ringgit as cable company Astro slid 2.3 per cent to 3.44 ringgit.
JAKARTA: Flat. The Jakarta Composite Index gained 0.05 points to finish at 2,322.30.
Telkom advanced 0.6 per cent to 4,500 rupiah, while car distributor Astra International climbed 1.2 per cent to 29,400 rupiah.
Food maker Indofood shed 4.5 per cent to 2,650 rupiah.
MANILA: Up 0.99 per cent. The composite index gained 27.68 points to 2,830.99.
Inflation eased to 0.1 per cent in August, its lowest in more than two decades.
"It's a combination of the inflation for August which has been the lowest in about 23 years and the performance of the US market," said Ron Rodrigo of DBP-Daiwa Securities Inc.
WELLINGTON: Up 0.22 per cent. The NZX-50 rose 6.75 points to 3,098.32.
Fletcher Building gained 17 cents to 7.86 dollars on top of an 11 cents rise Thursday after Australia posted a better than expected growth figure this week and amid reports of an improving New Zealand property market.
Telecom eased 1.0 cent to 2.79 dollars and Contact Energy fell three cents to 6.15. Fisher and Paykel Appliances rose 1.0 cent to 75 cents.
Shanghai picked up 0.58 per cent-adding to its near five per cent rise Thursday-as investor jitters over tightening credit were eased by regulators.
China's advance led Hong Kong to a 2.82 per cent gain, while Sydney added 0.13 per cent and Taipei 0.68 per cent.
TOKYO: Down 0.27 per cent. The Nikkei-225 dropped 27.53 points to 10,187.11.
"The Japanese market won't move much unless Wall Street, Shanghai and (the) dollar/yen" exchange rate are all rising, Mizuho Securities market analyst Yukio Takahashi told Dow Jones Newswires. A stronger yen is bad for Japan's exports.
Daiwa Securities Group tumbled 6.1 per cent to 508 yen in response to reports it is set to end a joint venture with Sumitomo Mitsui Financial Group in wholesale brokerage services.
Sumitomo Mitsui shares declined 2.1 per cent to 3,770 yen.
HONG KONG: Up 2.82 per cent. The Hang Seng Index finished 556.94 points higher at 20,318.62.
The market was boosted after China's foreign-exchange regulator said on Friday it plans to raise the maximum investment quota for Qualified Foreign Institutional Investors to 1 billion from 800 million US dollars, in an apparent attempt to attract investment.
Analysts said the move signalled Beijing's unease with the local stockmarket's recent slump.
Mainland developers, the major beneficiary of relaxed credit policies, continued to be the biggest gainers.
SYDNEY: Up 0.13 per cent. The S&P/ASX 200 added 5.9 points to 4,435.5.
"Obviously (the) employment data out of the US will be keenly watched, with forecasts calling for job losses of 233,000," said Ben Potter, a research analyst at IG Markets.
Rio Tinto iron ore chief executive Sam Walsh said Friday the company suspended iron ore price talks with China following the arrest of Australian executive Stern Hu and three colleagues.
BHP Billiton saw its shares fall by 0.21 per cent to 36.62 dollars, while Rio was down 0.25 per cent at 55.25.
SHANGHAI: Up 0.58 per cent. The Shanghai Composite Index, which covers A and B shares, was up 16.59 points to 2,861.61.
The index has been buoyed by securities regulators' assurances about market stability, but analysts said the outlook remained uncertain with no concrete measures from the authority.
The market sank 22 per cent in the past month after hitting a 2009 intraday peak of 3,478.01 on August 4.
Banks led gains, with Industrial and Commercial Bank of China rising 1.1 per cent to 4.80 yuan.
SEOUL: Down 0.29 per cent. The KOSPI lost 4.63 points to close at 1,608.90.
"The recent sharp rise in leading technology and auto stocks drove investors to cash in profits," Park Sung-Hun of Woori Investment and Securities said.
TAIPEI: Up 0.68 per cent. The weighted index rose 48.48 points to 7,153.13.
The market opened higher as investors took their cue from Wall Street's rise and interest in large cap electronic stocks helped the broader market fend off profit taking, dealers said.
Smartphone maker HTC rose 5.92 per cent to 367.00 dollars after the company and US wireless carrier Sprint Nextel announced they would release a touch-screen mobile phone in October.
Acer added 2.44 per cent to 79.90 and chip designer MediaTek gained 2.32 per cent to 529.00 dollars.
United Microelectronics Corporation added 5.17 per cent to 15.25.
SINGAPORE: Up 0.94 per cent. The Straits Times Index rose 24.33 points to 2,622.69.
Singapore Airlines put on 12 cents to 12.76 dollars, Singapore Telecommunications was 11 cents stronger at 3.27 and Keppel Corporation fell eight cents to 7.62.
DBS Group Holdings rose six cents to 12.82 and United Overseas Bank was steady at 16.98.
BANGKOK: Up 0.43 per cent. The Stock Exchange of Thailand gained 2.87 points to close at 668.41.
KUALA LUMPUR: Up 0.43 per cent. The Kuala Lumpur Composite Index gained 5.08 points to 1,178.74.
Maybank rose 1.3 per cent to 6.48 ringgit while state telecoms giant TM climbed 3.5 per cent to 3.24 ringgit.
Construction firm IJM fell 3.0 per cent to 5.82 ringgit as cable company Astro slid 2.3 per cent to 3.44 ringgit.
JAKARTA: Flat. The Jakarta Composite Index gained 0.05 points to finish at 2,322.30.
Telkom advanced 0.6 per cent to 4,500 rupiah, while car distributor Astra International climbed 1.2 per cent to 29,400 rupiah.
Food maker Indofood shed 4.5 per cent to 2,650 rupiah.
MANILA: Up 0.99 per cent. The composite index gained 27.68 points to 2,830.99.
Inflation eased to 0.1 per cent in August, its lowest in more than two decades.
"It's a combination of the inflation for August which has been the lowest in about 23 years and the performance of the US market," said Ron Rodrigo of DBP-Daiwa Securities Inc.
WELLINGTON: Up 0.22 per cent. The NZX-50 rose 6.75 points to 3,098.32.
Fletcher Building gained 17 cents to 7.86 dollars on top of an 11 cents rise Thursday after Australia posted a better than expected growth figure this week and amid reports of an improving New Zealand property market.
Telecom eased 1.0 cent to 2.79 dollars and Contact Energy fell three cents to 6.15. Fisher and Paykel Appliances rose 1.0 cent to 75 cents.