Monday 19 September, 10:00 AM BST (Thomson Financial): Asian markets ended
little changed overall, with many regional bourses closed for public holidays.
Taiwan's market inched higher, with steel stocks rising solidly, while the
Australian market was flat, even though heavyweight resources stocks posted
sterling gains. The markets in Japan, Hong Kong and Korea were all closed for
public holidays.
Taiwan's Weighted Index crept up by 4.35 points or 0.07% to 6035.59 and
Australia's All Ordinaries Index was barely changed, adding only 0.20 points
to 4499.60.
Taiwan ended only slightly higher amid as many regional exchanges were
closed for public holidays. The steel sector performed strongly on hopes of
increasing demand, with China Steel posting solid gains, while the electronics
sector also ended slightly higher. Heavyweight chipmakers UMC and TSMC both
climbed, but Via Technologies rose by its daily limit on reports that its Via
Telecom unit had teamed up with a Chinese handset maker and won a one million
CDMA handset order from India.
The Australian market was barely changed, even though resources
heavyweights rose strongly. Both BHP Billiton and Rio Tinto posted solid
gains, tracking their London-Listed shares after broker upgrades last Friday.
On the downside, banking stocks weakened, with National Australia Bank and
Commonwealth Bank among lenders ending lower, while telecom group Telstra also
weakened.
Olivier.Masson@thomson.com; Thomson Financial
This is Thomson Financial Corporate Services Asia Market Commentary. The
information herein is believed to be true and accurate. If you have any
questions please e-mail James Sang at James.Sang@tfn.com. We take no
responsibility for inaccurate information and reserve the right to update our
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http://www.thomsonfinancial.com.
SOURCE Thomson Financial Corporate Group
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