Asian-Pacific Stocks Are Mixed; Foreign Buying Boosts Taiwan
May 11, 2011
In Tokyo, shares declined as investors continued to react negatively to the Bank of Japan's quarterly ``tankan'' economic survey released Wednesday. Stocks in Hong Kong slid, with the expiration of August futures keeping trading volume low. Philippine shares advanced as investors bought ahead of next week's release of key economic data. Meanwhile, Australian issues declined amid volatile trading. Taiwan stocks gained as foreign institutional investors bought financial, steel and petrochemical blue chips. Shares in South Korea rose amid rumors that the government will intervene in the equities market to boost share prices. Profit-taking weakened Malaysian shares, while stocks in Singapore were mixed as the market lacked any fresh factors. Indonesian shares were mixed amid a general bearishness with the Asian-Pacific region, while Thai stocks declined. At the end of trading in Asia Thursday, the Dow Jones China 88 Index slipped 0.20 to 95.46, after rising 2.25 Wednesday. The Dow Jones Shanghai Index dropped 1.01 to 101.08, after climbing 1.74 the previous day. The Dow Jones Shenzhen Index rose 1.40 to 104.71, after inching up 3.58 the previous day. In dollar terms, the Asian-Pacific sector of the Dow Jones World Stock Index slipped 0.70 to 115.59 Thursday, after declining 1.11 Wednesday. The world as a whole lost 1.16 to 138.26, after falling 0.38 the previous day. Fishing and air-freight shares led industry groups on the Dow Jones Global Industry Groups, while biotechnology and medical-device issues were among the laggers. Asian Stock Market Indexes Market Australia
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