Ed Sheeran weaves Persian music into new song, Azizam    Rain expected in Makkah and Jeddah on Saturday    Al-Jadaan: Crown Prince's directives confirm government's ability to bring back balance to real estate market    China retaliates against Trump's trade war with 34% reciprocal tariffs on US goods    Saudi Arabia condemns Israeli escalation, targeting of civilians and Saudi warehouse in Gaza    Danish PM dismisses US desire to annex Greenland 'You cannot annex another country'    Macron lashes out against Trump's 'brutal' tariffs, calls for a pause in investment    Saudi Crown Prince, Iranian president discuss regional developments in Eid phone call    Veteran Bollywood actor Manoj Kumar dies at 87    New Laws of Commercial Registration and Trade Names take effect on Thursday    New fleet of 76 public transport buses starts operation in Jeddah on Tuesday Environmentally friendly electric buses introduced for first time    Foreign investors are allowed to engage in real estate business outside Makkah and Madinah Commercial speculation should not be the purpose of real estate transaction    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Cristiano Ronaldo joins Fatal Fury: City of the Wolves    Musk's X is suing India, as Tesla and Starlink plan entry    Tesla sales plunge after backlash against Elon Musk    Swedish table tennis legend Jörgen Persson appointed head coach of Saudi national team    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Screen time in bed linked to insomnia, study finds    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    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    







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Most Asian markets advance in thin trading
Published in Saudi Press Agency on 26 - 12 - 2007


Most Asian markets rose in thin
trading Wednesday, with stocks in Japan and China advancing
modestly while the Philippine benchmark index jumped to
two-week high, according to AP.
South Korean and Taiwanese shares dipped and trading in
many markets was slow. Markets in Australia, Hong
Kong and New Zealand were closed.
In Tokyo, the yen's recent weakness prompted investors to
buy exporters such as Toyota and Canon. The benchmark
Nikkei 225 stock index added 100.95 points, or 0.65
percent, to close at 15,653.54 points after it surged 1.94
percent the day before.
Traders said they plan to closely watch Japanese economic
indicators _ including consumer prices and jobless data _
due out on Friday, the last trading session of the year,
for their impact on share prices.
«We will need to be careful if the market tries to digest
them all in the half-day session and ends up inviting
speculative trading,» said Chuo Securities' stock trading
chief Mamoru Maeda.
Toyota Motor Corp. rose 1.3 percent and Nissan Motor Co.
added 1.6 percent, helped also by strong auto production
data for November.
Canon gained 1.7 percent, Hitachi Ltd. ended up 0.8
percent and Matsushita Electric Industrial Co. climbed 0.4
percent a day after the three announced a tie-up in their
liquid crystal display business.
Sanyo Electric tumbled 11 percent after the company's
restatement of past earnings data prompted the Tokyo bourse
to put its shares on a watch list for possible delisting.
In currencies, the dollar was trading at 114.13 yen at
1150 GMT Wednesday, down from 114.18 yen late Tuesday in
Tokyo. In late November, the dollar fell below 108 yen,
potentially eroding foreign revenue for Japanese exporters.
In China, stocks rebounded from a one-day drop as
automakers and chemical companies climbed on expectations
of strong earnings.
The benchmark Shanghai Composite Index ended up 0.6
percent at 5,233.35 points. The Shenzhen Composite Index
for China's smaller second market rose 1.7 percent to
1,433.06.
Automaker Beiqi Foton Motor rose 3 percent, while Hunan
Changfeng Motor ended up 3.4 percent. Chemical maker
Shandong Haihua rose 3.4 percent and Dymatic Chemicals
jumped 5.2 percent.
Shares in banks and real estate developers fell on concern
about possible government steps to tighten access to
credit. Such worries dragged down the Shanindex by 0.6
percent on Tuesday.
«Investors are wary of buying into bank and property
developers out of concerns over upcoming macroeconomic
measures, and accelerating rotational buying is taking
place in sectors with a positive 2008 outlook like
chemicals, cars, pharmaceuticals and military machines,»
said Everbright Securities analyst Shi Honglin.
Industrial & Commercial Bank of China, the country's
biggest commercial lender, dropped 1.6 percent while Hua
Xia Bank fell 2.1 percent.
Elsewhere:
BANGKOK: Thailand's main stock index dropped 0.3 percent
to 841.20.
JAKARTA: Indonesian shares rose, with the main stock index
advancing 2.1 percent to 2,714.548.
KUALA LUMPUR: Malaysian shares ended little changed. The
Kuala Lumpur Composite Index rose 0.1 percent to 1,424.02.
MANILA: Philippine shares surged to a two-week high as
fund managers began enhancing portfolios before the
year-end. The Philippine Stock Exchange Index climbed 79.65
points, or 2.3 percent to 3,612.63.
SEOUL: South Korean shares took a breather after a
two-session rally as some players became more cautious
ahead of the ex-dividend day Thursday. The Korea Composite
Stock Price Index, or Kospi, closed down 12.75 points, or
0.7 percent, at 1,906.72.
SINGAPORE: Singapore shares rose as investors continued to
build their portfolios for the next year. The Straits Times
Index closed up 1.1 percent, or 38.68 points, at 3,473.21.
TAIPEI: Taiwan shares dipped slightly as a nervous market
awaited the verdict on a prosecutorial appeal of
presidential candidate Ma Ying-jeou's acquittal on graft
charges. The Weighted Price Index of the Taiwan Stock
Exchange fell 10.68 points, or 0.1 percent, to close at
8,156.39 points.


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