Around the bourses

Press, 16 December 1985, Page 31

Around the bourses

Tokyo Prices edged higher in Tokyo during last week, boosted by a bond market rally and expectations of lower oil prices. The close was a record, however, as buying centred on large capital high tech issues and utilities. The market average gained 57.7 points to 13,107.98, passing the previous record of 13,055 of November 15. Brokers said Tokyo Electric Power gained 30, boosted by news it would set up a joint venture telecommunications firm in February with Mitsui and Mitsubishi. Other utilities firmed on expectations of lower oil prices and interest rates. Zurich

Domestic shares were firm to steady during the week in Zurich, and closed higher, led by bank issues. Brokers said there was still an-upward trend after the record by the Swiss Bank Corporation index on Thursday. The focus of attention was the U.B.S. registered stocks, which, with asked prices of 1030 Swiss francs,

had to be suspended for a short time. Transport shares, which had led the market at the beginning of the week, were traded easier after profit taking. Insurances drifted slightly higher while financials were mixed. Johannesburg Gold shares closed mixed after a generally easier week in Johannesburg, investors coming into the market to bargain hunt. The heavy-weight, President Brand, lost 50c. Fregus was unchanged. In industrials, Jazz Stores, which attracted interest over the last few days, both before and after an announcement that Kirsh will take over stores of the black retail group, closed unchanged at 2.225. Barlow Rand was steady at 12.95. Singapore

Despite earlier gains, Singapore prices eased during the week on selling pressure, but late speculative buying and short covering saw prices close higher. The Straits Times industrial index gained 11.04 points to 655.13 and the stock ex-

change all-shares index 3.24 to 244.30. Genting led the actives with a turnover of 503,000 shares and closed 8c higher. Hotels, properties and commodities rose in line with the general trend. Frankfurt During an active week, prices in Frankfurt were mostly firmer as foreign and domestic investors showed renewed buying interest. Shares closed near their peaks after a record high on the Commerzbank share index. Dealers said turnover was substantial and there was considerable activity by domestic operators. Renewed interest in German stocks was spurred by year-end rallies. Interest shifted from banks to cars during the final sessions but returned. to banks via chemicals at the end.

Amsterdam Prices were mixed during the week but edged up marginally as activity picked up towards the close in Amsterdam. Despite the narrowly mixed opening levels, most issues saw some im-

provement in increased trade with net gains. Positive local sentiment and the relatively stable range of the US dollar both contributed to the pre-weekend rally. Renewed bullish sentiment on the oil market pushed Royal Dutch up once more and the issue rose nearly two guilders to 173.30. Hong Kong A mixed week saw prices slightly lower early in Hong Kong trading, with investors sidelined awaiting new signals on China’s attitude to local political affairs. On Thursday, prices were higher on fresh buying interest, with renewed speculation of corporate take-overs providing the main impetus. However, the close brought prices lower again as a late round of selective institutional selling erased previous gains. Properties were hardest hit but Hutchison Whampoa, which signed an agreement with the Government to build and operate a new container terminal, rose 30c. Brokers said the market should consolidate at present levels in the near term. Index up

The Index of Leading Economic Indicators, which is designed to predict the course of the United States economy, rose in October for the sixth consecutive month, the Commerce Department said. The closely watched index, made up of 11 pieces of data that tend to foreshadow changes in the economy’s direction, climbed 0.3 per cent after gains of 0.4 per cent in September and 0.8 per cent In August.