http://www.yahoo.com/headlines/current/business/stories/asia.html (Einblicke ins Internet, 10/1995)
HONG KONG (Reuter) - Asian markets closed mostly flat Friday, with trading volumes low and activity slow. Investors were awaiting the announcement of jobs data in the United States, brokers said.
Tokyo, Hong Kong, Bangkok, Sydney, Manila, Wellington and Jakarta markets closed only marginally up while the bourses in Taipei, Kuala Lumpur, Seoul and Singapore were mildly weaker.
Brokers said the August U-S employment figures being announced Friday could affect Asian markets next week. Trading dropped off in anticipation of the data.
In Tokyo, brokers said demand for high-technology stocks brought the 225-share Nikkei index off morning lows to leave it 0.02 percent up at 18,120.73 points at the close.
``Dealers and foreigners are focused on the semiconductor stocks. Many research departments will announce their forecasts on companies for the 1995/96 year next week, and people are speculating there'll be a lot of upward revisions,'' said Isao Maruta, general manager at Universal Securities.
But profit-taking and lack of follow-through buying on the futures market limited gains, brokers said.
``The reason indices are not high despite the aggressive buying from foreigners is because dealers were taking profits soon after buying, not wanting to hold positions over the weekend,'' a broker at a second-tier securities house said.
``Although there was brisk activity in high-tech stocks, in futures nobody was willing to buy on the upside. Activity centred on rollover into the December contract,'' said a trader at Marusan Securities.
In Hong Kong, the Hang Seng index closed 16.61 points or 0.18 percent up at 9,196.47 points. ``The market isn't really going anywhere,'' said Nial Gooding, dealing director at Kleinwort Benson.
Brokers said many investors were cautious ahead of the release of U.S. unemployment data and that turnover was low at HK$2.35 billion (US$304.01 million).
In Sydney, Australian shares closed flat on a lack of leads after a day of directionless trading. The All Ordinaries index closed 0.20 points or 0.01 percent up at 2,133.2 points.
Market players said a near complete lack of offshore interest ahead of the long Labor Day weekend in the U.S. meant a directionless day's trading on ordinary turnover.
``There is not much happening, some results gave us some activity this afternoon but no leads,'' said one Sydney trader.
The dollar retained slight gains against the yen and the mark in late Tokyo trade, with most activity driven by mark/yen cross trade amid a lack of incentives and ahead of the U.S. jobs data.
At 1100 GMT, the dollar was trading at 97.55/65 yen and 1.4675/82 marks against New York's close of 97.36/41 yen and 1.4670/80 marks Thursday.
Spot crude prices in Asia were firmer in late trade but activity was thin with traders awaiting India's October crude buying tender results expected tonight.
October 15-day Brent quotes firmed to $16.30 as buying interest emerged from Europe while SIMEX Brent traded up to $16.30 from IPE's Thursday close of $16.25.
Gold closed easier at the day's low on late Asian selling, dealers said.
Bullion ended at US$381.60/382.10 an ounce, down from New York's US$382.40/90 close and the local opening of US$382.10/60. REUTER
Following are the Asian market highlights:
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TOKYO - Share indices ended barely changed on Friday but high-technology stocks, and semiconductor-related issues especially, continued to rise.
Brokers said foreign investors were the chief buyers, joined by dealers, helping volume rise over Thursday.
``Dealers and foreigners are focused on the semiconductor stocks. Many research departments will announce their forecasts on companies for the 1995/96 year next week, and people are speculating there'll be a lot of upward revisions,'' said Isao Maruta, general manager at Universal Securities.
The Nikkei index ended ahead 3.51 points or 0.02 percent at 18,120.73.
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HONG KONG - Shares ended a touch firmer in lacklustre trade.
The blue chip Hang Seng Index closed 16.61 points firmer at 9,196.47, after drifting between 9,136.31 and 9,214.21.
``Overall there are signs that people are rerating Hong Kong,'' said Nial Gooding, dealing director at Kleinwort Benson.
``But the market isn't really going anywhere,'' he added.
The market opened slightly lower and stayed that way all morning until U.S. and European buying together with some futures-related activity dragged it into positive territory in the afternoon.
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BANGKOK - Thai stocks broke a four-day losing streak on a last minute rally focused on big capitalised banks after the market index languished near its Thursday close for most of the day, brokers said.
The SET index rose 4.92 points to close at 1,319.82 on light 2.65 billion baht (US$106 million) turnover. Declines edged advances 133 to 122. The bank counter gained 0.51 percent and the transport sector advanced 1.05 percent.
``The rally at the end was intended for boosting psychology next week but it does not change the bearish picture,'' a broker at Adkinson Securities said.
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BOMBAY - Bombay shares edged slightly higher at the close on late purchases by foreign fund managers, despite profit-taking in telecom shares, brokers said.
Early trade was affected by flooding in Bombay suburbs which prevented brokers getting to work on time.
The 30-share BSE index closed at a provisional 3,354.74, up 7.98 points from Thursday's 3,346.76, while the 100-share National index ended at a provisional 1,536.75, up 2.18 points.
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COLOMBO - Sri Lankan stocks closed down in dull trade which brokers blamed on a lack of buying after investors tested the water and found the market had room to soften.
The Colombo Stock Exchange all share index closed 2.48 points lower at 718.61 leading to a loss of 26.24 points on the week. Turnover was 34.01 million rupees (US$680,200) from 30.09 million rupees (US$601,800) on Thursday.
``Investors are not willing to buy into a falling market,'' said Chaminda Perera of HDF Securities.
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JAKARTA - Jakarta share prices ended flat in dull trading, with local players focused on second and third-line stocks, brokers said.
The composite index ended at 502.00 points, up 1.26 points, from Thursday's close on thin volume. The index was adjusted after the market's close as Putra Sejahtera Pionerindo went ex-bonus for its one-for-one bonus issue.
``It was a locally-driven market today. Foreigners were mainly net sellers or staying on the sidelines,'' one said.
Brokers said bank BDNI bounced back on some offshore buying in the afternoon after being hit by local speculative selling.
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KUALA LUMPUR - The key Kuala Lumpur Stock Exchange Composite Index rebounded at the close after hovering at just above the crucial support level of 1,000 points in early afternoon trade, brokers said.
The index closed at 1,009.29, down 5.78 points from the previous close. It hit an intraday low of 1,003.76.
Brokers said the index was dragged by falls in some core stocks although the broader market sentiment improved in the afternoon. Gainers led losers by three to two.
``I think some people are pushing the market up ahead of the Petronas Gas listing (on Monday),'' said an investment analyst.
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MANILA - Brisk buying lifted Ionics Circuits Inc to an all-time high but roller-coaster trade saw Manila share prices closing only a shade higher, brokers said.
The 30-share index nudged up 2.53 points to end at 2,761.49 points and the market is seen moving in a range of 2,720-2,780 points in the coming days, they said.
``The market had a roller-coaster ride, but the main story of the day is Ionics,'' Maria Lourdes Sison of Sun Hung Kai Securities said. Ionics shot up to an all-time high of 34 pesos before dipping to 33.50 on forecasts of robust earnings this year and next on strong sales and new projects.
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SEOUL - Stocks closed the day in negative territory for the fourth consecutive day as bank and securities stocks led the downward slide, brokers said.
Even a morning rally and last minute buying were not enough to boost the market. The volume was too thin to support any significant climb in the composite index. The market is expected to stay dull until the Thanksgiving holidays next week, they said.
The composite index fell 2.70 points to 911.36. Decliners beat advancers 467 to 284, with 17.8 million shares changing hands. It was the lowest volume seen since July 29, when 17.78 million changed hands.
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SINGAPORE - Singapore shares closed weaker but Malaysian shares traded on CLOB International retraced earlier losses towards the close of business, brokers said.
Brokers said they were meeting officials of the Singapore Stock Exchange. The speculation is that they would discuss the possibility of financial institutions in Singapore being permitted to finance purchases of Malaysian shares.
Exchange officials could not be reached for confirmation.
The Straits Times Industrials Index fell 14.05 points to 2,132.53. The UOB OTC index tracking Malaysian shares ended just 1.85 points down to 1,144.58, off an intraday low of 1,119.85.
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SYDNEY - Australian shares closed flat on a lack of leads after a day of directionless trading.
The All Ordinaries index closed 0.20 points up at 2133.20. The September share index contract though was down nine points at 2147, a 13.80 point premium to the physical market.
Market players said a near complete lack of offshore interest ahead of the long weekend in the U.S. meant a directionless day's trading on ordinary turnover.
``There is not much happening, some results gave us some activity this afternoon but no leads,'' said one Sydney trader.
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TAIPEI - Taiwan share prices reversed an early uptrend to end down on late profit-taking as a rally which some had expected to celebrate Premier Lien Chan's nomination as the ruling Nationalist party's vice-presidential candidate failed to materialise, brokers said.
The weighted index ended down 24.64 points or 0.51 percent at 4,785.29, off an intra-day high of 4,865.70. Turnover was T$29.82 billion (US$1.08 billion).
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WELLINGTON - Fletcher Challenge made a comeback on the perception that persistent selling in the stock may finally have dried up, while the broader market ended flat.
The NZSE-40 capital index ended 2.45 points higher at 2,102.69 on turnover worth NZ$42 million (US$27.3 million).
Phil Hardie Boys at CS First Boston said some of the buying of FCL shares, which hoisted the price eight cents to NZ$4.26, appeared to have been Australia-based.
``There seems to have been a perception of a stock overhang and that seemed to have dried up,'' Hardie Boys said. REUTER