On the world’s Bourses

Press, 24 February 1986, Page 20

On the world’s Bourses

Hong Kong

Stocks rebounded to end the week higher despite falling in early trading on Friday on concerns that local businessmen might be implicated in a local horse racing scandal. Brokers said share prices were pressured by news that 22 horse trainers and jockeys were arrested on Thursday for alleged malpractices. They said the market may consolidate further before advancing again ahead of the next corporate reporting period next month. Analysts expect major corporations to report sharply higher 1985 profits. Singapore Singapore share prices ended the week narrowly mixed after profit taking late on Friday pared earlier gains in active trading, dealers said.

Prices firmed later in the week after the Government’s acceptance in principle of recommendations of the Economic Committee’s proposals to stimulate the ailing Singapore economy. Reports of a last ditch attempt to rescue Pan-Elec-tric Industries, Ltd, now in receivership, also boosted market sentiment. Frankfurt The Frankfurt market experienced a directionless week to end mixed with chemical issues the only stocks to make consistent solid gains, on the back of lower oil prices, dealers said. Export-dominated stocks fell back in the face of a soft dollar tone.

Brokers said the mood of the last few sessions toward the end of the week had been nervous, often changing from

firmer to easier within an hour.

Tokyo

Share prices alternated daily from high to low, setting two record closing highs on Monday and Wednesday and ending the week higher in active trading.

Dealers said institutional investors and individuals were active in the market on Wednesday after remarks by the Finance Minister, Mr Takeshita, that conditions were ripe for a discount rate cut. Amsterdam Dutch share prices closed mixed across the board as the bourse concluded a bearish and lacklustre week characterised by dull and thin trading, dealers said. However, they detected limited optimism seeping back to the market on Friday

morning after a week of heavy losses with most investors either sidelined or diverted by more dynamic and speculative trading on Belgian and Italian exchanges. Five out of eight bourse indices dropped to 1986 lows on Friday for the third day in succession, with the All-Share Index falling 0.3 to 246.60. Zurich

Swiss markets rallied to close higher boosted by good annual results from Credit Suisse, and after a quiet week’s trading. A higher Credit Suisse dividend and capital increase, offered in a one-for-20 rights issue, attracted buying orders, dealers said.

The Credit Suisse bearer rose 75 francs to 3,625 francs after beginning the week 45 down at 3,520.