Asian-Pacific Markets Are Mixed; Local Investors Lift Nikkei Index
March 29, 2011
In the previous trading day, the entire region registered sharp losses in reaction to volatility in U.S. stock prices and fears of higher U.S. interest rates. In Tokyo, the equities market rose slightly following small-lot buying by domestic institutional investors late in the afternoon. Late futures-led selling drove the key Hang Seng Index down as investors nervously reacted to uncertainties about interest rates. The Australian equities market lost all its earlier gains, hammered late in the day by heavy selling in News Corp.. All financial markets in South Korea were closed in observance of a national holiday. The Philippines market fell after a strong opening as investors, spooked by the volatility in the U.S. market, opted to stand on the sidelines. Taiwan share prices rose sharply on bargain-hunting. The Singapore market rose in moderate volumes, as stocks with Indonesian shareholders grabbed the spotlight. Local investors speculated on property and textile shares, lifting the Jakarta market as a whole. Shares on the Kuala Lumpur Stock Exchange reversed course and rose Wednesday, with most activity centered on issues involved in the Bakun project. Thai stock prices slipped in light trading as foreign investors continued to sell because of the poor short-term outlook for the market. The Dow Jones China 88 Index fell 2.44 to 94.78 Wednesday, after rising 1.15 Tuesday. The Dow Jones Shanghai Index fell 2.12 to 103.77, after advancing 1.61 the previous day. The Dow Jones Shenzhen Index fell 2.89 to 97.04, after rising 0.41 the previous day. In dollar terms, the Asian-Pacific sector of the Dow Jones World Stock Index rose 0.42 to 117.60 Wednesday after falling 0.60 Tuesday. The world index as a whole gained 0.93 to 135.37 after shedding 0.64 Tuesday. Entertainment and software stocks led the Dow Jones Global Industry Groups, while oil-drilling and oilfield-equipment shares were among the laggers. Asian Stock Market Indexes Market Australia
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