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Asian markets

TOKYO: Shares in Tokyo ended unchanged in a pause after their latest spurt and ahead of the last trading day for April delivery tomorrow. Brokers said the market might continue consolidating the Nikkei's 22,000 level in the near future, despite strong buy interests.

The 225-share Nikkei average finished down 4.01 points, or 0.02 percent, at 22,119.88, while its June contract added 40 points to 22,280.

"The market will try to consolidate the 22,000 level in the near future," said Michio Sugita, head of stock trading at Deutsche Morgan Grenfell.

HONG KONG: Hong Kong stocks finished with a moderate loss led by a sharp decline in the banking sector.

The Hang Seng index ended down about 21 points, or 0.19 percent, at 10,889, compared with a 10,961 session high and 10,840 session low.

Analysts said bank stocks were hit by growing concern that increasing competition for mortgage loans would crimp their profits. "It's not new, it's just suddenly not being ignored anymore," Alan Hutcheson, research director at Deutsche Morgan Grenfell said of mortgage competition. "We're seeing daily evidence of it so people can't ignore it."

BANGKOK: Thai stocks weathered several bouts of profit- taking, especially in the morning session, to end the day slightly higher as investors bought bank and finance issues, brokers said.

The SET index finished 1.22 points higher, or 0.09 percent, at 1,296.44 on 5.8 billion baht turnover. Decliners led gainers 199 to 125 while 116 issues were unchanged.

"Investors decided to buy bank and finance stocks for short-term profit-making," said Thanadech Mahapokai of Siam City Credit Finance and Securities, adding that the index was also rebounding from falls over the last four trading days.

BOMBAY: Foreign institutional demand pulled Bombay Stock Exchange (BSE) shares to positive territory at close after the market remained subdued for most of the day, brokers said.

"I think the market passed a tough test," a trader said. "The quick recovery is perhaps an indicator of the beginning of a bull phase."

"Everybody expected the market to fall, but the FIIs (foreign institutional investors) helped prices rebound," he said. The 30-share BSE index ended up 10.30 points at a provisional 3,721.09 after falling to 3,673.29.

COLOMBO: Sri Lanka stocks closed little changed in narrow cautious trade with turnover supported by institutional buying of blue chips, brokers said.

The Colombo Stock Exchange all share closed 0.83 points lower at 653.90. Turnover was 18.18 million.

"The country situation which is largely dependent on the northeast conflict, is unlikely to change soon," said a trader.

JAKARTA: Jakarta shares ended a touch lower as profit-taking emerged late in the afternoon after a day of active trade, brokers said.

The composite index fell 0.56 points, or 0.09 percent, to 627.83 after hitting a high of 631.41 in intra-day trade.

The index had closed at a new year high on Monday.

Losers led gainers by 63 to 52 with 42 issues unchanged.

Brokers said local players continued to set the momentum, with the focus mainly on small cap stocks susceptible to rumours and possible corporate action.

KUALA LUMPUR: Share prices closed lower led by heavy profit-taking in Second Board stocks, but gains in some key blue chips helped limit fall in the benchmark index, dealers said.

The Kuala Lumpur Stock Exchange Composite Index ended down 0.35 points, or 0.03 percent, at 1,173.88.

News that Bank Negara had called for a special meeting with chief executives of all commercial banks on Tuesday afternoon brought sellers into the market, but prices recovered from their lows after the e Containers (Group) Co listed 30 million additional B shares.

The B share index shed 0.16 of a point to close at 60.68, with turnover contracting to HK$3.24 million from HK$7.54 million Monday.

SINGAPORE: Caution over possible measures to curb speculation in the private property market gripped Singapore shares and pushed the market to close lower.

The Straits Times Industrials Index closed little changed, off by 0.23 point at 2,378.73, off the day's low of 2,366.04.

"Any talk to do with measures and it's safety first, so some funds are selling their shares," said an institutional dealer.

The property index lost 3.18 percent or 24.66 points to end at 752.01. Losses were led by City Development, which dropped S$0.70 to S$12.20 on volume of 2.4 million shares.

SYDNEY: The Australian share market ended much stronger and near its highs after better than expected March CPI data released a flood of buying orders from local and offshore institutions.

The All Ordinaries index closed 32.6 points, 1.44 percent stronger at 2,300.0. The June share price index ended up 34 points at 2,330, a 30 point premium to the underlying index.

Brokers said the market had built in a good CPI figure but the rise of just 0.4 percent for the March quarter was better than analysts' average forecast of a 0.7 percent rise.

TAIPEI: Taiwan share prices ended lower due to late hectic selling in the financials led by a government-promoted fund, brokers said.

The weighted index ended 2.41 percent or 145.84 points down at 5,907.01. Turnover was a hectic T$113 billion (US$4.11 billiob).

The market had opened higher on momentum gained from Monday's session. But buying fervour dissipated after mid-session as hectic profit-taking, led by the government's stock fund, gripped the heavily weighted financial sector, brokers said.

WELLINGTON: New Zealand shares ended weaker thanks to bearish bank bill and bond markets.

The NZSE-40 Capital Index ended 7.24 points down at 2,135.06 on turnover worth NZ$72.68 million (US$49.68 million).

Carter Holt Harvey was the only leader to gain, rising two cents to NZ$3.36 and continuing a firming trend.

Carter Holt had been forming a good base on the charts and one Wellington brokerage had been an active buyer over the last three weeks.

Brokers said the support had been coming through one Wellington broker.-Reuter