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Asian stocks lower at midday
Fri, Jul 18, 2008
AFP, Reuters. ST

TOKYO
Japan's Nikkei average rose 0.4 per cent on Friday, as a softer yen lifted exporters like Honda Motor Co and banks gained after JPMorgan's profit fell less than expected.

But the market slipped back from earlier levels on caution following some disappointing US earnings results released after the bell and ahead of a three-day weekend.

Japanese markets are closed on Monday for a national holiday.

The benchmark Nikkei ended the morning up 50.34 points at 12,938.29. The broader Topix gained 0.3 per cent to 1,267.59.

KUALA LUMPUR
Malaysian stock prices fell into the red pressured by political turmoil in the country.

The benchmark Kuala Lumpur Composite Index lost 15.57 points or 1.34 per cent to 1,105.60. In the broader market, losers outperformed gainers 352 to 106 in a volume of 166.41 million valued at RM451.21 million (US$139.66 million).

On the political front, police are investigating a sodomy allegation against opposition leader Anwar Ibrahim.

HONG KONG
Hong Kong shares lost their morning gains just before lunch.

The Hang Seng Index was down 25.2 points or 0.12 per cent to 21709.52.

SHANGHAI
Most Chinese stocks fell in thin trade on Friday as the prospect of a slowing economy continued to haunt investors, but the main index was boosted by gains in oil refiners after another plunge in global crude oil prices.

The Shanghai Composite Index was up 0.28 per cent at 2,692.251 points at midday, well off the morning's high of 2,743.810.

But losing stocks in Shanghai outnumbered gainers by 548 to 326.

SINGAPORE

Singapore stocks ended lower at midday with the benchmark Straits Times Index down 28.56 points at 2,835.54.

Up to 566.1 million shares exchanged hands. Losers beat gainers 312 to 122. -- AFP, REUTERS, ST

 

 
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