Global Newsbrokers Stockmarket Service
Far East close at 09:50:03
FAR EAST STOCKS CLOSING OVERVIEW
Thursday, January 13
Share prices in Hong Kong managed to
edge higher in afternoon trade,
reversing morning losses as short-
covering among Macau-related issues
and selective property and telecom
blue chips lifted the market. Some
support also stemmed from Wall
Street's recovery and firmer close
last night, while Apple's post-results
rally was also helpful. However,
sentiment was still subdued overall
amid concerns over fund outflows and
the prospects for higher interest
rates. The Hang Seng index closed
7.97 firmer at 13,573.28.
Australian blue chips ended slightly
higher today as late profit-taking
dragged the market off its best
levels. News Corp retreated again,
while banks and retailers were softer
and resources were mixed. However,
drinks groups attracted interest after
Fosters bought an 18.8 per cent stake
in SouthCorp for A$518m. Both stocks
were suspended. The media sector was
excited by reports that John Fairfax
was buying a stake in Ten Network
Holdings, sending the latter sharply
higher. The All Ordinaries index
closed 0.8 firmer at 4,069.1.
In Singapore, the Straits Times index
was up 2.54 at 2,082.34, while in
Seoul the Korea Stock Price index rose
5.51 to 885.54.
Main index