Asian-Pacific Markets Rise On Wall Street's Rebound
March 31, 2011
Shares in Hong Kong, the Philippines, Australia and Singapore advanced as Wall Street's recovery overnight eased investors' fears of another U.S. interest-rate rise. Stocks in Tokyo fell because of arbitrage-related selling, while Malaysian issues rose as investors took profits. Indonesian shares advanced, though political worries persisted over embattled Indonesian Democratic Party leader Parks Lira. Taiwan shares gained on news the government intends to open the local economy to more foreign investment. Buying in large-capitalization blue chips boosted stocks in South Korea and Thailand. In Saturday trading, Taiwan shares rose slightly as speculators exploited the day's low trading volume to buy small-capitalization issues. Stocks in South Korea gained as investors bought blue chips. At the close of the Asian-Pacific business day Friday, the Dow Jones China 88 Index was up 2.43 to 99.35 after rising 2.14 Thursday. The Dow Jones Shanghai Index moved up 4.32 to 109.51 after advancing 1.42 a day earlier, and the Dow Jones Shenzhen Index put on 1.42 to 103.41 after gaining 4.95 in the previous session. In dollar terms, the Asian-Pacific sector of the Dow Jones World Stock Index rose 0.32 to 118.98 at 7:30 p.m. EDT Friday after adding 1.04 Thursday. The world index as a whole fell 0.17 to 136.56 after rising 1.42 a day earlier. Mining and precious-metal shares led the Dow Jones Global Industry Groups, while footwear and entertainment shares were among the laggers. Asian Stock Market Indexes Market Australia
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