3 expat women who practiced prostitution in a hotel arrested in Riyadh    Tunisian president and Saudi interior minister discuss security cooperation    Saudi, US defense ministers discuss over phone ways to enhance strategic cooperation    Grand Mufti expresses pride over Saudi Arabia's firm position on Palestine issue    Saudi Arabia's inflation records slight rise reaching 2% in January 2025    Electromin celebrates victory of "Nissan Formula E Team" in "Jeddah E-Prix" as first Saudi private-sector global partner in Formula E    Saudi Arabia vows full support to Lebanon's actions to safeguard citizens' security    US-made heavy bombs arrive in Israel after Biden-era hold    Death toll from New Delhi railway station stampede rises to 18    US, Russia to begin Ukraine peace talks in Saudi Arabia    Al Ittihad CEO calls for fairness as Al Hilal raises officiating concerns ahead of Saudi Classico    LG Electronics Saudi Arabia and Shaker Group mark 30 years of sustainable innovation in HVAC solutions    Benzema shines with goal and two assists as Al Ittihad dominate Al Wehda French star leads Al Ittihad to 4-1 victory, extending lead over Al Hilal ahead of top-of-the-table clash    Saudi Arabia among world's top 10 energy storage markets    Al Hilal held to controversial 1-1 draw against Al Riyadh, missing chance to reclaim top spot    Al Hilal accuses SPL's Michael Emenalo of bias and SFF's Manuel Navarro of pressuring team to accept local referees Club criticizes officiating, calls for elite foreign referees in Saudi Pro League    Maya Diab joins Arab stars and celebrities in celebrating the Centrepoint Ramadan 2025 collection launch at Riyadh Boulevard    Oilatum tackles rise in Eczema and Dry Skin in Saudi Arabia    HONOR brings together AI and luxury with PORSCHE DESIGN HONOR Magic7 RSR at LEAP 2025    Chinese film stirs national pride, rakes in $1bn in days    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Most Asian markets slide in wake of decline on Wall Street,but Shanghai climbs
Published in Saudi Press Agency on 07 - 06 - 2007


Most Asian markets fell Thursday on
concerns about declines on Wall Street, but Chinese shares
extended a rebound from sharp losses earlier in the week
after reports doused speculation over a possible capital
gains tax, REPORTED AP.
The benchmark Shanghai Composite Index rose 3 percent to
3,890.80. The Shenzhen Composite Index of China's second,
smaller market jumped 3.7 percent to 1,126.84.
The rebound from an 8.3 percent plunge in the Shanghai
benchmark Monday appeared to be gaining momentum as
officials talked up the market, with a front-page report in
the state-run Shanghai Securities News rebutting rumors
China might impose a tax on capital gains.
«The report greatly eased retail investors' concerns, as
many of them were speculating the tax would be implemented
in the wake of the duty hike,» said Du Changjiang, an
analyst at China Great Wall Securities.
Other Asian markets fell, following the 0.95 percent drop
in the Dow Jones industrial average amid concern that the
U.S. Federal Reserve might raise rates later this year.
Investors in Asia closely monitor the U.S. economy, a key
export market.
Tokyo's Nikkei 225 index rose 12.45 points, or 0.07
percent, to finish at 18,053.38 points.
For much of Thursday's session, the index remained in
negative territory, but they recovered by the closing bell.
«The market really feels quite buoyant right now. It's
been lagging other markets for most of this year and so
there is strong upward momentum out there supporting us,»
said Motomi Hiratsuka, head of sales trading at BNP
Paribas.
A test of that momentum is likely to come Friday as
investors await Japanese machinery order data, traders
said.
Gainers included Mitsui Engineering & Shipbuilding Co.,
which climbed 4.90 percent to 728 yen (US$6.02), while
higher oil prices led investors to buy trading company
shares, with Mitsubishi Corp. adding 1.24 percent to 3,260
yen (US$26.94).
In Hong Kong, the blue chip Hang Seng Index fell 18.45
points, or 0.1 percent, to finish at 20,800.16.
Many property stocks were hurt by concerns about higher
interest rates. Sino Land fell 1 percent at HK$16.68 and
Henderson Land dropped 0.4 percent to HK$54.40.
But Hong Kong stocks bounced back after shares on the
Chinese mainland continued to recover from their recent
losses.
Some Chinese stocks rose in response, with heavyweight
China Mobile (Hong Kong) Ltd., the world's largest mobile
carrier by subscribers, adding 0.2 percent at HK$73.00.
Chinese offshore oil producer CNOOC rose 3 percent to
HK$8.28, its sixth straight record high close.
In currencies, the U.S. dollar was trading at 121.32 yen
late Thursday, up from 121.01 yen late Wednesday in New
York. The euro inched down at US$1.3493 from US$1.3506 in
early trading.


Clic here to read the story from its source.