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To: Goldbug Guru who wrote (2987)	12/4/1998 3:16:00 AM
From: Goldbug Guru	Respond to of 37507

Asia shrugs off Dow's losses Nikkei eases 0.4 percent as Hong Kong, Singapore post modest gains S&P Futures on Globex December 4, 1998: 2:37 a.m. ET Wall St. trips on Brazil's ills - Dec. 03, 1998 Central banks rescue bourses - Dec. 03, 1998 World Markets Tokyo Stock Exchange Hong Kong Stock Exchange Singapore Stock Exchange Sydney Stock Exchange Bridge News - Asia & Australia LONDON (CNNfn) - Tokyo stocks trimmed early losses to close down 0.4 percent in thin trading on Friday. But Hong Kong and Singapore posted modest gains by midday. Most Asian markets posted modest gains to finish the week up, despite a 2 percent dive on Wall Street Thursday. With fears about the health of the Brazilian economy growing, the coordinated European interest rate cuts that boosted bourses provided some good news for Asian traders. Hong Kong and Singapore were less than 1 percent higher in afternoon trade while Australia, the Philippines and Taiwan closed up a similar amount. Korea was the best performer, adding 4 percent by its close, while Thailand and Malaysia were less than 1 percent higher after lunch. Indonesia was down almost 0.5 percent. Tokyo's benchmark Nikkei average trimmed early losses to close down 0.39 percent or 57.11 points at 14,639.97. Worse-than-expected GDP figures released after the market's close Thursday had already been discounted, said ING Barings chief economist Richard Jerram. "There was a lot of accurate guessing about what the numbers would be," he said. Financial stocks were all lower. Only the transportation equipment sector was able to make any real advances, climbing 4.26 percent, though auto stocks fell back 1.18 percent. Earlier sales figures had indicated booming demand for mini-cars. Daihatsu, among the mini-car market leaders, was among the better performing stocks. It rose 1.47 percent to 482 yen. Honda Motor lost 2.51 percent to 4,280 yen. Bankrupt construction company JDC continued its massive slide, posting the day's biggest losses of 60 percent to 2 yen. Hong Kong stocks were just 0.17 percent higher in afternoon trade, rising 16.63 points to 10,062.78. HSBC Holdings, which has suffered heavy losses this week, was firm at HK$186.5 as the global environment for interest rate cuts improved. Property stocks also benefited. Cheung Kong climbed almost 1 percent to HK$54.75. Singapore was up 0.36 percent or 4.8 points at 1348.23. Stocks were mixed. DBS bank lost 10 cents to S$7.1 while heavyweight Singapore Press Holdings also fell 10 cents to S$16.6. Australian stocks climbed 0.38 percent to 2,730.7 while the Philippines and Taiwan both rose 0.86 percent by their closes. Korea raced ahead more than 4 percent. Indonesia was 0.5 percent lower at lunch while Thailand was up 0.63 percent. Malaysia rose 0.78 percent, despite attracting some unwelcome headlines over financier George Soros' call for the resignation of Prime Minister Mahathir Mohamad.