Asian Stock Markets Are Mixed; Political Turmoil Hits Bangkok
April 26, 2011
Bangkok stock prices dropped sharply on worries about the government's stability after an important political party stalked out of Prime Minister Bevis Silpa-Sadler's fragile coalition. The Tokyo market climbed for the third straight day, buoyed by a dramatic leap in Nippon Telegraph & Telephone, which soared 6.2% in active trade amid buying by foreign investors. Surprisingly strong government land auction results lifted the Hang Seng Index slightly higher in Hong Kong. Taiwan shares were mixed in moderate trading as the benchmark index gained strength on unconfirmed news reports about Morgan Stanley's plan to issue warrants. Weakness in large-capitalization stocks led the decline in South Korea's bourse. In Manila, the market fell on profit-taking. Australian share prices fell in thin trading, while the mining sector dropped sharply. Singapore shares closed mixed Wednesday, as investors nibbled at selected blue chips and speculative, small stocks. Stocks fell in listless dealings in Jakarta as foreign investors remained on the sidelines waiting for fresh news. Shares were mixed on the Kuala Lumpur Stock Exchange Wednesday as trading focused on second-tier shares. At the close of trading Wednesday in Asia, the Dow Jones China 88 Index fell 0.15 to 102.50 after dropping 0.39 Tuesday. The Dow Jones Shanghai Index fell 0.16 to 110.35 after falling 1.32 the previous day. The Dow Jones Shenzhen Index fell 0.68 to 110.90, after rising 0.47 the previous day. In dollar terms, the Asian-Pacific sector of the Dow Jones World Stock Index rose 0.33 to 117.39 Wednesday, after climbing 0.62 Tuesday. The world as a whole fell 0.02 to 138.33 after falling 0.17 the previous day. Pipeline and communications shares led industry groups on the Dow Jones Global Industry Groups, while precious-metal and water-utility issues were among the laggers. Asian Stock Market Indexes Market IndexAug. 14Change Australia
