Wednesday, April 20, 2005

Fears for Chinese growth

by Brian Turner

In the Asian markets on Wednesday, Bangkok, Seoul and Tokyo were up, but Manila and Shanghai were down.

Contributing factors were oil prices and concerns about China’s economic growth.

On the other hand, Intel’s positive earnings report didn’t seem to have much of an impact at all.

Bangkok’s SET index rose 0.9 percent to 684.19 on news that Thailand’s central bank had decided to leave interest rates at their current rate. The composite index in Seoul was up 0.5 percent to 937.36.

Tokyo’s markets were up as well, with the Nikkei 225 average up 0.2 percent to 11,088.58 and the Topix index rose 0.4 percent to 1,131.53. In the technology sector Sony was down by 1 percent, but Cannon rose 0.7 percent, Matsushita was up 1.2 percent, Advantest ended the day up 0.1 percent after being up 2.2 percent earlier in the day, and Tokyo Electron posted a 1 percent gain after reporting a 16 percent rise in quarterly orders.

Japan Airlines continued to rebound with a 0.3 percent rise, while All Nippon Airways closed unchanged.

In Manila, bargain hunting pushed the composite index up 1.1 percent to 1,854.97, while n Shanghai, the composite index ended down 1.3 percent at 1,184.19.

 

 

 

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