Asian stockmarket summary - Thursday, January 25 2007 |
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Published
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Thu, 25 Jan 2007 11:34
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BEIJING (XFN-ASIA) - A summary of Asian stockmarket trading Thursday:HONG KONGShare prices closed lower as investors stepped up profit-taking in late trade, with China stocks and property firms particularly hit following recent strong gains. There were concerns that many stocks have become expensive following the market's run-up to near the 21,000 points level. The Hang Seng Index closed down 151.22 points at 20,669.83.CHINAA-shares in Shanghai and Shenzhen closed sharply lower amid concerns that further tightening measures may be announced by the central bank to curb excessive liquidity flowing into the stock market. The benchmark Shanghai Composite Index closed down 117.76 points at 2,857.37. The Shanghai A-share Index fell 123.49 points to 3,001.90 and the Shenzhen A-share Index was down 31.70 points at 700.85. B-shares in Shanghai and Shenzhen closed significantly lower on a fall in blue chips, following losses in the A-share market on concerns the central bank may announce further credit controlling measures. The Shanghai B-share Index fell 8.74 points to 169.04 and the Shenzhen B-share Index was down 16.68 points at 502.51.TAIPEIShare prices closed lower as late profit-taking eroded early gains propelled by Wall Street's overnight rally and the positive response to United Microelectronics Corp's plan to cut paid-in capital by 30 pct. The weighted index closed down 11.77 points at 7,923.77.SEOULShare prices closed little changed, giving back all their early gains, with retail investors unloading shares on uncertainty over the fundamental strength of the market. The KOSPI index closed down 0.70 points at 1,382.36.MANILAShare prices closed higher for the sixth straight session after expectations of a cut in interest rates encouraged bullish investors to continue to snap up select stocks. At the close, the 30-company index was up 30.44 points at 3,275.19.SINGAPOREShare prices closed sharply lower on heavy profit-taking in blue chips after briefly touching a new record intraday high in early trade. The Straits Times Index slumped 41.61 points to 3,108.63.KUALA LUMPURShare prices closed lower on profit-taking as investor sentiment turned cautious ahead of Tenaga's first quarter results. The Kuala Lumpur Composite Index (KLCI) closed down 3.38 points at 1,179.66.JAKARTAShare prices closed sharply lower on across-the-board profit-taking with many stocks now seen richly valued after last week's strong gains. Weakness in some regional markets also weighed on sentiment. The composite index closed down 31.736 points at 1,773.956.AUSTRALIAShare prices again closed at record highs this week as investors were buoyed by the overnight rise in US shares and a further gain in base metal prices in London trading. The S&P/ASX 200 added 1.1 points to a record close of 5,769.9. The broader All Ordinaries index gained 4.2 points to a fresh record close of 5,753.3.TOKYOShare prices closed lower after investors locked-in profits on gains earlier in the day that had taken the Nikkei to its highest level in more than six years, boosted by Wall Street's performance overnight and high expectations about corporate earnings here. The blue-chip Nikkei 225 Stock Average closed 49.10 points lower at 17,458.30.
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Banking and insurance highlights to 15:45 GMT 