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Asian stocks lower again as investors brace for US inflation data
10/16/2005
HONG KONG, Oct 15 (AFP): Asian stocks continued to trade lower Friday with anxious investors fretting over US inflation figures and the prospect of another round of interest rate hikes, dealers said.
They said weakness in the outlook for the IT industry had also weighed on sentiment with Wall Street's lacklustre performance providing little direction for investors in the Asia Pacific region.
Hong Kong share prices closed 0.93 per cent lower on sustained worries about likely further increases in US interest rates, which would push up local lending costs.
The Hang Seng Index closed down 135.95 points at 14,485.88. Turnover was 21.86 billion Hong Kong dollars (2.8 billion US).
MUMBAI: Share prices closed 2.09 per cent lower as overseas and domestic funds sold heavily in benchmark index and mid-cap stocks.
Dealers said overseas funds sold on perceived high share prices in leading companies and local funds and retail investors followed suit.
The Sensex index closed 175.17 points lower at 8,201.73.
KARACHI: Share prices rose 1.1 per cent amid sustained optimism that the country's devastating earthquake could be good for business once a major a reconstruction drive gets into gear.
The 100 Index gained 99.40 points to close at 8,860.90, more than making up for a 0.33 per cent slip a day earlier due to profit-taking.
TOKYO: Share prices closed 0.21 per cent lower as the market turned cautious ahead of key US inflation data and company earnings news.
The Nikkei-225 index shed 28.70 points to 13,420.54 on turnover of 2.7 billion shares.
JFE Holdings, the country's second-largest steelmaker, dropped 180 yen to 3,580 Nippon Mining Holdings, which controls Japan Energy, shed 32 yen to 809, and Mitsubishi UFJ slid 40,000 yen to 1,440,000.
SEOUL: Share prices closed 0.27 per cent lower, extending losses as Samsung Electronics' solid third-quarter results and positive future guidance provided only limited support.
The KOSPI index closed down 3.27 points at 1,190.17. Volume was 568 million shares worth 4.3 trillion won (4.1 billion dollars).
Samsung Electronics was steady at 562,000 won after it reported a net profit of 1.88 trillion won on sales of 14.54 trillion won in the third quarter.
Kim said investors were waiting to see what would happen in the US markets, with Wall Street weighing inflation fears and the prospect of further interest rate hikes.
TAIPEI: Share prices closed 0.15 per cent higher in a slight technical rebound after recent losses but the key tech sector continued under pressure despite gains on Nasdaq overnight.
The weighted index closed up 8.96 points at 5,969.07 on turnover of 59.56 billion Taiwan dollars (1.78 billion US).
SHANGHAI: Share prices closed 1.14 per cent lower in a continued correction, with textile stocks struggling after China and the US failed to reach a deal on export limits in their latest talks.
The Shanghai A-share Index shed 13.77 points to 1,197.30 on turnover of 7.69 billion yuan (948 million dollars) while the Shenzhen A-share Index was down 3.41 points or 1.16 per cent at 289.40 on turnover of 4.71 billion yuan.
SINGAPORE: Share prices closed 0.75 per cent down on profit-taking in property and marine-related stocks. The Straits Times index dropped 17.46 points to 2,303.24. Volume totalled 974 million shares worth 828 million Singapore dollars (493 million US).
KUALA LUMPUR: Share prices closed 0.17 per cent lower in listless trade Friday amid an absence of fresh leads. The composite index was down 1.53 points to 925.59. Volume was 300.53 million shares, worth 452.97 million ringgit (120 million dollars).
Among blue chips, Telekom Malaysia and Maybank were flat at 10.10 ringgit and 11.50 respectively, while Tenaga Nasional lost 0.10 to 10.70.
BANGKOK: Share prices closed 0.61 per cent lower, pressured by further falls in Asian stock markets and concern over the country's inflation.
The composite index fell 4.30 points to 700.02. Turnover stood at 1.4 billion shares worth nine billion baht (220 million dollars) traded.
Among major shares, Thailand's top energy firm PTT fell 2.00 to 232.00 and its subsidiary PTT Exploration and Production declined 4.00 to 448.00.
JAKARTA: Share prices closed 0.57 per cent higher on a rebound led by index heavyweights Astra International and Telkom after the rupiah strengthened against the US dollar.
The composite index closed up 6.169 points at 1,096.704 on volume of 3.76 billion shares valued at 2.78 trillion rupiah (274.43 million dollars).
MANILA: Share prices closed little changed as profit-taking in market leader Philippine Long Distance Telephone (PLDT) offset gains in other stocks. The composite index fell 1.87 points to 1,953.14. Volume was 330.5 million shares worth 1.52 billion pesos (27.3 million dollars).
Ayala Land, the most actively traded stock, closed up 20 centavos at 8.90 pesos. Parent company Ayala Corp. rose 7.50 pesos to 292.50.
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