Wednesday, September 7, 2005

East asia stock markets see gains

by Brian Turner

In Asian equities markets, South Korea, Shanghai, and Bangkok all saw gains on the day.

South Korea’s composite index was up 1.8 percent to 1,142.99, an all-time closing high, on a volume of 407.5 million shares traded and with exporters leading the way.

Shanghai’s composite index also gained 1.8 percent, to 1,194.31 on reports that the Chinese government has allowed more foreign cash flow to enter China’s markets.

In Bangkok, the SET index added 0.4 percent to 708.50 on gains in the banking sector that followed a larger than anticipated rise in interest rates, which went up to a five-year high of 3.5 percent.

There was little movement in Tokyo’s equity markets on Wednesday as investors anticipate Sunday’s elections.

The Nikkei 225 gained 0.1 percent to 12,607.59, while the Topix index fell by 0.1 percent to close at 1,285.52.

Carmakers were up on the day, with Honda Motor up 0.5 percent to ¥6,000, Nissan up 0.8 percent to ¥1,165, and Toyota adding 0.9 percent to ¥4,590. The iron and steel sector fell as a whole, with Nippon Steel down 1.2 percent to ¥338. However, Kobe Steel was up 2.2 percent to ¥273.

In the oil sector, Nippon Oil fell by 1.6 percent to ¥875. Consumer electronics group Sony was up 2.1 percent to ¥3,920. Mobile phone company NTT DoCoMo gained 3.8 percent to ¥193,000.

 

 

 

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