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July 24, 2008
Asian stocks mainly down at closing

KUALA LUMPUR
Malaysian share prices closed 0.2 per cent higher on Thursday on late buying in select blue chips but profit taking and inflation concerns weighed on the index, dealers said.

The Kuala Lumpur Composite Index gained 2.18 points or 0.2 per cent at 1,141.59.

HONG KONG
Hong Kong share prices closed down 0.2 per cent Thursday as China coal firms slumped after authorities said they would tighten control of spot coal prices, dealers said.

The benchmark Hang Seng Index dropped 46.83 points to 23,087.72. Turnover was 77.25 billion Hong Kong dollars (S$13.5 billion).

Among oil producers, CNOOC lost 2.18 per cent and PetroChina fell 1.50 per cent.

China Southern Airlines was up 7.87 per cent. Hong Kong's top carrier Cathay Pacific was up 1.3 per cent, extending Wednesday's 6.3 per cent gain.

SHANGHAI
Chinese stocks closed 2.55 per cent higher on Thursday as gains in overseas markets and a further drop in oil prices boosted the market, dealers said.

The benchmark Shanghai Composite Index, which covers both A and B shares, closed 72.44 points higher at 2,910.29 on turnover of 78.0 billion yuan (S$15.6 billion dollars).

The Shanghai A-share index added 76.20 points, or 2.56 per cent, to 3,053.09 on turnover of 77.8 billion yuan, while the Shenzhen A-share index was up 21.61 points, or 2.44 per cent, to 909.11 on turnover of 36.0 billion yuan.

TOKYO
Japanese share prices closed up 2.18 per cent to hit a one-month high Thursday after a further easing of global oil prices and fresh gains overnight on Wall Street, dealers said.

The Tokyo Stock Exchange?s benchmark Nikkei-225 index gained 290.38 points to close at 13,603.31, the third straight session it has gained and the highest level since June 26.

The broader Topix index of all first-section shares added 29.22 points or 2.24 per cent to close at 1,332.57. -- REUTERS, AFP

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