Asian-Pacific Stocks Are Mixed; Suharto Speech Lifts Indonesia
April 28, 2011
In Tokyo, stocks were mixed as investors took profits. Shares in Hong Kong rose due to buying in rate-sensitive banking and property issues. Philippine shares gained as foreign investors returned to the market, while Australian issues also advanced. Taiwan shares fell following President Leeanna Teng-Huong's move to limit Taiwanese investment in China. Shares in South Korea plunged because of several companies' negative earnings reports. Malaysian shares advanced as companies there began to report their first-half earnings. Stocks in Singapore were unchanged amid some institutional selling. Indonesian shares rose following President Flora's speech to Parliament, while Thai issues declined. In Saturday trading, Taiwan shares slid as investors were sidelined and volume dropped to a five-month low. South Korean stocks declined amid the absence of a leading group of shares. At the end of trading in Asia Friday, the Dow Jones China 88 Index fell 1.34 to 100.05, after falling 1.01 Thursday. The Dow Jones Shanghai Index dropped 1.65 to 108.10, after dropping 0.60 the previous day. The Dow Jones Shenzhen Index fell 1.12 to 107.91, after slipping 1.87 the previous day. In dollar terms, the Asian-Pacific sector of the Dow Jones World Stock Index lost 0.20 to 117.13 at 7 p.m. EDT Friday, after rising 0.10 Thursday. The world as a whole gained 0.24 to 138.92, after rising 0.20 the previous day. Consumer-service and savings-and-loan shares led industry groups on the Dow Jones Global Industry Group, while computer and tobacco issues were among the laggers. Asian Stock Market Indexes Market IndexAug. 16Change Australia
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