Around the bourses

Press, 1 July 1985, Page 29

Around the bourses

Amsterdam

A positive domestic undertone and good performances on Wall Street boosted prices in Amsterdam over a broad front as buying interest far outstripped selling pressure last week. The market was aided by favourable corporate news and a steadier United States dollar which swelled trading volumes after a luU earlier in the week as traders awaited direction. A late downturn on Wall Street the previous Friday sidelined many investors earlier in the week. But brokers expect domestic support to continue into this week as confidence grows in the underlying strength of the economy. Frankfurt

A rally which began in Frankfurt on Thursday gained momentum on the final trading day of the week on strong domestic and foreign support, , particularly for banking stocks. Brokers said the rise could be a forerunner to a spurt this week, as profit taking and a technical correction to a recent run of record highs had died. The strong end-of-week performance on Wall Street, where the market barometer hit a new record on Thursday, also spurred traders on in a frenzied final session. Brokers maintained their confidence. through heavy bouts of selling on Tuesday and Wednesday, correctly predict- 1 ing that it was a technical correction and that no longterm selling pattern had set in.

encouraging performances on Wall Street fuelled demand for shares in Zurich last week and pushed prices consistently higher over a broad front. Brokers said institutional demand focused on the banking and insurance sectors. But most financials and industrials also rose as domestic and foreign investors switched more funds to Swiss franc investments. Transports were also actively sought and many second line companies advanced in the general upturn. Turnovers were heavy and brokers reported a favourable underlying sentiment which carried the market in the absence of strong fundamental signals mid-week. Hong Kong

The market closed on a bearish note after dull trading, throughout most of the week. Selective demand on Thursday provided some life to an otherwise sluggish performance but brokers attributed the rise to technical considerations. They said trading was dominated by speculation and rumour rather than fundamentals and the market lacked a clear direction from an absence of fresh factors. Buying interest evaporated on Friday as selling pressure easily outstripped the weakening support. Tokyo

Stocks performed strongly in Tokyo last week as ample liquidity boosted prices across the boards to new series of record highs. Brokers also attributed the rise to an extension of a recent advance after a shakeout earlier this year. Although the market ended the week slightly below its latest record, good support was evident particularly for market heavy-weights. Brokers said domestic trust funds bought heavily in blue chips, partly as window dressing to strengnten portfolios in preparation of half-yearly reports. Singapore

Share prices finished on a weaker note in Singapore on Friday as profit takers overcame bargain hunters and sent the market lower. Stop-loss orders were activated which further outstripped support and created an uncertain outlook amongst investors. Turnovers were subdued as hotels, properties and commodities followed industrials which led the market lower. The Straits Times industrial index finished about three points lower at 782.69.