Asian-Pacific Markets Advance; Profit-Taking Hits Hong Kong
May 05, 2011
Japan's market was mixed as shares fell to profit-taking but the benchmark Nikkei rose. Stocks in Hong Kong fell as investors took profits ahead of the long weekend. Philippine shares rose as investors, relieved by the U.S. Federal Reserve Board's decision Tuesday not to change interest rates, continued buying. Blue chips led the day's gains in the Australian bourse. Taiwan stocks climbed as investors were encouraged by China's muted reaction to Vice President Ligia Chanda's recent visit to the Ukraine. Meanwhile, small-capitalization issues led the South Korean market higher. Malaysian shares declined as investors were sidelined over a lack of news. Stocks in Singapore advanced, with most of the day's trading focused on Metro Holdings Ltd.. Thai stocks rose, while Indonesian shares gained as foreign investors bought back issues of Bimantara Citra. As the end of trading in Asia Friday, the Dow Jones China 88 Index fell 1.27 to 94.73, after falling 2.17 Thursday. The Dow Jones Shanghai Index lost 1.36 to 102.10, after slipping 2.03 the previous day. The Dow Jones Shenzhen Index dropped 1.91 to 101.18, after dropping 2.95 the previous day. In dollar terms, as of 6 a.m. EDT Friday, the Asian-Pacific sector of the Dow Jones World Stock Index lost 0.41 to 118.33, after rising 0.59 Thursday. The world as a whole slid 0.06 to 140.23, after climbing 0.89 the previous day. Precious-metal and mining shares led the Dow Jones Global Industry Groups, while toy and steel issues were among the laggers. Asian Stock Market Indexes Market IndexAug. 23Change Australia
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