Asian-Pacific Issues Mostly Fall; Profit-Taking Hits Hong Kong
April 27, 2011
Stocks in Tokyo were mixed amid profit-taking and a lack of aggressive buying. Shares in Hong Kong fell as profit-taking eroded gains in the property sector. Philippine shares fell as investors avoided buying ahead of the May 02, 2011 of the U.S. Federal Open Market Committee. Australian issues rose as a stronger domestic bond market offset weakness in the gold sector. Taiwan shares plunged as President Leeanna Teng-Huong's speech on China policy dealt a serious blow to listed companies with investment plans in mainland China. Meanwhile, all financial markets in South Korea were closed for a national holiday. Stocks in Singapore were mixed, with most of the buying focused on issues linked to Indonesian investors. Malaysian shares declined, mostly because of weakness in Tenaga Nasional. Political uncertainty continued to weaken Indonesia's bourse. Meanwhile, governmental instability in Thailand, along with a wave of poor earnings results, weakened shares there. At the end of trading in Asia Thursday, the Dow Jones China 88 Index fell 1.01 to 101.39, after falling 0.15 Wednesday. The Dow Jones Shanghai Index lost 0.60 to 109.75, after dropping 0.60 the previous day. The Dow Jones Shenzhen Index fell 1.87 to 109.03, after slipping 0.68 the previous day. In dollar terms, the Asian-Pacific sector of the Dow Jones World Stock Index fell 0.01 to 117.24 Thursday, after rising 0.17 Wednesday. The world as a whole rose 0.17 to 138.65, after gaining 0.13 the previous day. Oil-drilling and fishing shares led the Dow Jones Global Industry Groups, while toys and entertainment issues were among the laggers. Asian Stock Market Indexes Market IndexAug. 15Change Australia
