Indonesian Shares End Lower On Weak Rupiah, Falls In Asia
ndonesian shares ended lower Monday, hurt by a weaker rupiah and falls in most major Asian markets after stocks in the U.S. tumbled Friday, dealers said.
They said overall sentiment was also hit by concerns over high oil prices and as many investors switched out of their equity funds to bid for the IDR3 trillion in government bonds scheduled to be issued Tuesday.
“These factors are good reasons for investors to continue to lock in profits,” said a trader with Paramitra Securities.
The Jakarta Stock Exchange Composite Index ended down 22.761 points, or 1.9%, at 1200.127. The main index fell 0.6% Friday after rising 3.1% Thursday.
More: sg.biz.yahoo.com
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Indian shares fall on weak Asia
Indian shares fell more than 1 percent in early Friday deals on weak Asian markets, as investors digested a three-day rally and refrained from taking long positions ahead of the weekend.
At 11:09 a.m. the 30-issue benchmark BSE index was 0.88 percent lower at 11,867.95 points, having traded in a 130-point band. It had rallied 3.6 percent, or 422 points, in the past three days.
Sentiment was lacklustre in the broader market, with 644 stocks gaining compared with 1,415 that lost ground. Total volume stood at 57.9 million shares.
More : in.today.reuters.com
Inco shares advance on Phelps Dodges offer
Shares of PT International Nickel Indonesia, a unit of Inco Ltd., rose to their highest in four weeks after Phelps Dodge Corp., the world s third-largest copper producer, agreed to buy Inco and Falconbridge Ltd.
Inco Indonesia shares rose as much as 9.7 percent to Rp 20,300 rupiah. As many as 2.81 million shares changed hands at 11:19 a.m. Jarkarta time, compared with the s ix-month daily average of 715,707 shares. The stock traded at 20,100 rupiah at 11:19 a.m.Jakarta time, the highest since May 30.
Inco and Falconbridge combined is the worlds
Asia Roundup: Shares finish mostly lower
Asian stocks closed mostly lower yesterday, extending losses after US wage data undercut the widely held view that the US Federal Reserve had no more reason to hike interest rates again, dealers said.
TOKYO: Japanese share prices were down sharply after a soft performance on Wall Street overnight, dealers said.
The Tokyo Stock Exchanges benchmark Nikkei-225 index fell 271.68 points or 1.67 per cent to 16,012.41, off a low of 15,944.03. The broader TOPIX index of all first-section stocks dropped 29.36 points or 1.79 per cent to 1,613.46. Volume fell to 1.72 billion shares.
More : btimes.com.my
FX Asia: Taiwan Dollar Sets Sight On New 2006 Low
The New Taiwan dollar is increasingly favored in carry trades as low interest rates and heightening political tensions with the Chinese mainland make the currency a cheap funding vehicle for purchases of higher-yielding units such as the Thai baht.
Although the Taiwan dollar is recovering from falls earlier in the week thanks to a resurgent Japanese yen, its longer-term outlook remains grim.
Technical charts, in particular, are pointing to fresh lows ahead for the currency, already facing pressure ahead of Taiwan's Peace Memorial Day on Feb. 28 when some are expecting
Autos drive European shares down
European shares ended lower on Friday but U.S. data showing strong economic growth and softer inflation helped the market pare losses from car and technology stocks after disappointing earnings.
A below-forecast profit rise pounded Volkswagen shares 5.4 percent lower, dragging down the sector, while a lower-than-expected profit and forecasts from tech bellwether Microsoft hit European peers such as SAP.
But pharmaceutical stocks shone for a second session as a panel of European experts backed the use of Sanofi-Aventiss anti-obesity pill Acomplia, the French groups biggest new drug hope, while GlaxoSmithKline basked in broker upgrades a day after the
