Asian-Pacific Stocks Are Mixed; Nikkei Rebounds in Late Buying
April 04, 2011
Buying late in the session, mainly in the banking sector, pulled the benchmark Hang Seng Index up in Hong Kong. The Nikkei rebounded for the first time in three days on last-minute cash purchases. Poor confidence in the electronics sector sent the Singapore market sliding. The Taiwan market fell sharply as local investors worried that foreign funds would start another sell-off. The Australian market fell, as poor confidence in Wall Street continued to hurt local stocks -- especially in the media sector. In Manila, the market fell sharply, weakened by continued profit-taking. South Korean share prices on the bourse were flat as buying focused on smaller issues. Foreign investors cut their holdings in Indonesian stocks following Wall Street's decline overnight. Malaysian investors sold shares or stayed out of the market altogether on fears that further falls on Wall Street could spook investors out of the domestic market, as well as other regional bourses. The Thai market was mixed in light trading, as the benchmark index climbed slightly on a false report of a plan to cut corporate taxes. The Dow Jones China 88 Index rose 0.17 to 102.03 after the close of the Asian trading day Tuesday after rising 2.51 Monday. The Dow Jones Shanghai Index fell 1.14 to 111.36 after adding 2.99 the previous day. The Dow Jones Shenzhen Index rose 1.83 to 108.01 after adding 2.77 the previous day. In dollar terms, the Asian-Pacific sector of the Dow Jones World Stock Index rose 0.15 to 117.68 Tuesday after falling 1.41 Monday. The world index as a whole fell 0.58 to 134.66 after falling 1.30 the previous day. Airline and railroad issues led industry groups on the Dow Jones World Stock Index, while oil-drilling and software issues were among the laggers. Asian Stock Market Indexes Market Australia
