Friday, September 28, 2007

So Who's Counting the New Highs?

Asian markets closed mostly higher, with Hong Kong and Shanghai ending at record high levels, but profit-taking dragged Japanese shares lower as institutional investors chase Asian themes over the past month.

This was most evident in the HK market which is a proxy for the Chinese Economy. Fund managers cannot be seen to have nee left behind in the final 2 quarters of the year.

The following statistics are made available by the HKEx:

Securities market
- The Hang Seng Index closed at a record high of 27142.47 today, up 77.32 points.
- Today's securities market turnover value was $149,210 million, the largest ever.
- Today's closing market capitalisation was a new high of $20,054.9 billion, exceeding the $20 trillion mark for the first time. The previous trading day's (27 September 2007) closing market capitalisation was $19,937.1 billion.

Market Indices
Australia All Ordinaries 6580.90 + 0.50%
Bombay Sensex* 17268.95 + 0.69%
Hong Kong Hang Seng 27142.47 + 0.29%
Japan Nikkei 16785.69 - 0.28%
Shanghai Composite 5552.30 + 2.64%
Singapore STI 3706.23 - 0.23%
South Korea Composite 1946.48 + 0.06%
Taiwan Weighted 9411.95 - 0.02%

*Intraday trading

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