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Australasian stock markets close generally mixed |
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News |
June 21, 2000
HONG KONG (AP) - Asian stock markets closed generally mixed Tuesday, with prices rising in Tokyo but slumping in Hong Kong.
The Japanese benchmark 225-issue Nikkei Stock Average rose 316.20 points, or 1.91 percent, to close at 16,907.55. On Monday, the average closed up 273.04 points, or 1.7 percent.
The Nikkei average rose as investor sentiment was lifted by overnight gains on Wall Street, where the Dow Jones industrial average rose 108.54 points, or 1 percent, to 10,557.84.
The tech-laden Nasdaq composite index soared 129.29 points, or 3.3 percent, to 3,989.85.
Traders also said the Tokyo market got a boost from investor confidence that Japan's economic recovery is getting stronger. The Economic Planning Agency in its economic report for June upgraded its assessment of the economy for the second straight month.
In currency trading, the U.S. dollar was quoted at 105.46 yen, down 0.30 yen from late Monday in Tokyo and also lower than its late New York level of 105.75 yen Monday.
South Korean shares surged, with the key index rising 4 percent on the back of gains in U.S. stocks.
The Korea Composite Stock Price Index rose 29.94 points to 785.32.
In Hong Kong, the blue-chip Hang Seng Index fell 180.73 points, or 1.1 percent, to close at 16,086.74. On Monday, the index had lost 166.91 points, or 1 percent.
Brokers said the Hong Kong market was hit by continued profit-taking following last week's sharp gains.
The Hang Seng Index has risen more than 15 percent in over three weeks, they pointed out.
Taiwan shares also ended lower as investors found little in President Chen Shui-bian's first press conference since taking office to suggest a major breakthrough in cross-strait relations anytime soon, traders said.
They said Chen's press conference, during which he called for a summit with China's President Jiang Zemin, did little to catch the eye of investors.
The Taipei's Weighted Stock Price Index fell 60.44 points, or 0.69 percent, to 8,690.66.
Elsewhere:
SINGAPORE: Share prices closed higher as the market took its cue from overnight gains in the United States. The Straits Times Index gained 13.9 points, or 0.7 percent, to 2,010.08.
WELLINGTON: New Zealand shares closed lower in quiet trading. The benchmark NZSE-40 Capital Index rose 16.49 points, or 0.8 percent, to 2,019.25.
MANILA: Philippine stocks closed marginally lower following the release of disappointing economic data showing unemployment at a nine-year high and imports slowing after a recent steady rise. The 30-company Philippine Stock Exchange Index fell 0.27 point to 1,560.40.
SYDNEY: The Australian share market rose. The All Ordinaries Index edged up 1.8 points, or 0.1 percent, to 3,106.3.
KUALA LUMPUR: Malaysian shares closed little changed. The benchmark Composite Index slipped 0.67 point to 812.62.
JAKARTA: Indonesian shares ended slightly lower amid profit-taking. The Composite Index slipped 0.1 percent, or 0.567 point, to 490.121.
BANGKOK: Thai stocks closed slightly lower in thin trading. The Composite Index slipped 0.89 point, or 0.3 percent, to 339.77.
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