Around the world’s bourses

Press, 2 December 1985, Page 42

Around the world’s bourses

Tokyo The market ended barely changed after a late rally eliminated mid-week losses resulting from an uncertain yen outlook. Brokers said buying was selective and scattered in generally quiet trading with many investors sidelined by Wall Street's closure on Thursday for the Thanksgiving Day holiday. An uncertain mood overhung the market throughout the week although bouts of bargain hunting limited downturns. Hong Kong

Share prices finished marginally higher after a week of sharp rises and falls. Strong demand emerged early in the week in a correction to the previous Friday’s falls but i political uncertainty and tears of higher domestic

interest rates sent the market plummeting mid-week. Sentiment changed again on Friday in a sharp turnaround inspired by plans to list Cathay Pacific Airways shares. Brokers said buying interest outweighed speculation of an imminent rise in interest rates. Zurich

Share prices edged higher in a week of moderate trading as the market shook off early bearish sentiment. Brokers said banks showed a firmer trend although most interest focused on transport situation stocks and electronic companies. They said investors were expecting rises in the near future and appeared unaffected by Wall Street’s closure on Thursday. United States stocks were stagnant in the foreign sector while the Swiss bond market

ended the week on a steady note.

Amsterdam Dutch share prices were mixed after a week of directionless trading although underlying sentiment remained bullish. Brokers said investors were optimistic of further rises after a recent protracted rally with a handful of issues finishing the week at record levels. But trading interest was discouraged by Wall Street’s closure on Thursday although some end week profit taking and position squaring limited rises. Brokers said traders were also hesitant after the United States dollar continued to weaken. . Johannesburg Continued weakness in the rand and lower domestic in-

terest rates pushed gold and industrial shares to record levels early in the week. Profit taking emerged midweek to take the shine off earlier rises but a renewed demand on Friday restored most of the earlier gains. A weaker bullion price also created selling pressure on Thursday but the weaker rand cushioned the effects of the downturn. Frankfurt Share prices edged lower in dull trading throughout the week on mostly technical considerations. A clutch of recent strong interim reports failed to stimulate a market nervous at the absence of any real consolidation phase in the wake of recent strong gains. The weaker United States dollar also dampened enthusiasm wj® export oriented sec-

tors particularly mt. Trading ended on a bearish note as overseas investors withdrew ahead of the New Year. Singapore A debt crisis in one of the market’s biggest stocks sent the market to a 41-month low in nervous trading. A statement the previous week-end from Pan-Electric Industries that a basis for an agreement had been reached to rescue the company from its financial difficulties failed to instil confidence in investors. Brokers said offshore interest in the market dwindled to almost nothing while local investors also abandoned stocks. Trading ended on a bearish note with investors nervously awaiting details of a financial. ; package do rescue the com- i pany. cT “