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| Indices close mixed Express Report
The price indices on the Dhaka Stock Exchange (DSE) closed mixed Monday although the losers
outnumbered the gainers. The trade turnover, in terms of both volume and value, increased on the day.
The DSE Weighted Average Share Price Index rose by 0.0007 per cent to close at 820.36 points.
The DSE-20 index declined by 1.97 points or 0.18 per cent to settle at 1111.45 from 1113.42 points of
Sunday, the previous trading day.
About 1.91 million shares and debentures worth Tk 122.94 million changed hands Monday compared
to 1.86 million shares and debentures valued at Tk 115.94 million of the previous trading day.
A total of 178 issues were active on the day including 52 gainers, 97 losers and 29 remaining
unchanged.
The total market capitalisation stood at Tk 68.76 billion from Tk 68.81 billion.
The number of contracts increased to 10,768 from 9,463 .
Beximco Pharma, Apex Foods, Fu Wang Ceramic, Pioneer Insurance and Eastern Cables contributed
significantly to the trade turnover.
Beximco Pharma performed as the trade turnover leader, in terms of both volume and value, on the day.
A total of its 182,300 shares valued at Tk 8.69 million changed hands on the day. The price of the issue
fell by 1.25 per cent to close at Tk 47.40 and varied between Tk 48.10 and Tk 47.20.
Apex Foods was a major trade turnover leader, in terms of value, on the day. Its price increased by 2.97
per cent to close at Tk 346.50. A total of its 20,705 shares worth Tk 7.17 million were transacted. The
price of the issue varied between Tk 351.75 and Tk 340.00.
Sinobangla performed as a major trade turnover leader, in terms of volume, on the day. Its 174,500
shares valued at Tk 3.59 million were traded. The price of the issue declined by 0.97 per cent to close at
Tk 20.30.
Eastern Lubricant was the top gainer on the day. Its price went up by 9.83 per cent to close at Tk
175.30. A total of its 6,850 shares valued at Tk 1.19 million changed on the day.
Fu Wang Ceramic was the top losing issue on the day. Its price fell by 5.28 per cent to close at Tk
112.00. A total of its 70,550 shares worth Tk 7.97 million were transacted.
Pioneer Insurance was a major performer on the day. Its 42,350 shares valued at Tk 8.15 million were
traded. The price of the issue decreased by 0.13 per cent to close at Tk 187.25.
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Share prices slideExpress Report
The price index on the Chittagong Stock Exchange (CSE) closed lower Monday as the losing issues
outplayed the gaining ones. The trade turnover, in terms of volume, increased but in terms of value, it went
down on the day.
The CSE Selective Index dropped by 5.27 points or 0.42 per cent to close at 1253.60 from 1259.07
points of Sunday, the previous trading day.
The Trade Volume Weighted Index slipped by 0.0006 per cent to close at 1839.35 points.
A total of 0.74 million shares and debentures valued at Tk 22.63 million changed hands on the day
against 0.67 million shares and debentures valued at Tk 24.98 million of the previous day.
A total of 72 issues were traded on the day. Of them, 14 posted gains, 41 lost grounds and 17 remained
unchanged.
The total market capitalisation stood at Tk 59.70 billion from Tk 59.88 billion. The number of contracts
decreased to 1,544 from 1,758 contracts of the previous day.
Bangladesh-Thai Aluminium performed as the top gainer on the day. The price of the issue increased
by 7.27 per cent to close at Tk 184.50 from Tk 172.00. Its 40 shares valued at Tk 7,380.00 changed hands
in two contracts.
Dhaka Fisheries was the top losing issue on the day. The price of the issue went down by 12.02 per
cent to close at Tk 51.25 from Tk 58.25. Its 650 shares valued at Tk 33,362.50 were transacted in five
deals.
Beximco Pharma was the trade turnover leader, in terms of both volume and value, on the day. Its
159,000 shares valued at Tk 7.56 million changed hands in 538 deals. The price of the issue decline by
1.05 per cent to close at Tk 47.30 from Tk 47.80.
Sinobangla was a major trade turnover leader, in terms of volume, on the day. The price of the issue
dropped by 1.46 per cent to close at Tk 20.30 from Tk 20.60. A total of its 110,500 shares valued at Tk
2.29 million were transacted in 44 contracts.
Rangpur Foundry was a major performer on the day. Its price remained unchanged at Tk 21.50. A total
of its 103,500 shares valued at Tk 2.23 million were transacted in 23 contracts.
Nine issues were active in the textile and clothing sector. Among them, seven lost grounds and two
remained unchanged.
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The Union Capital Index (UCI) went down by 0.29 per cent to close at 229.53 Monday. The daily trade
turnover also went down by 8.12 per cent to Tk 46.44 million (4.644 crore). A total of 29 UCI listed stocks
were traded on the day, out of which, eight advanced and 21 declined. The ULC was not traded on the day.
The top gainer for the day IDLC Ltd (4.63 per cent) followed by Apex Foods Ltd (2.97 per cent). On the
other hand, the major loser for the day was Eastern Cables Ltd (-2.47 per cent) followed by Confidence
Cement Ltd (-2.05 per cent).
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TOKYO, Aug 12 (AFP): Asian share prices were mostly lower Monday in cautious trading ahead of a key US Federal
Open Market Committee (FOMC) meeting on interest rates.
Japanese share prices tumbled 2.5 per cent led by tech stocks after their US counterparts fell at the end of last week,
dealers said.
Most markets in the region were flat or just marginally lower with investors awaiting the FOMC decision.
The Nikkei-225 average of the Tokyo Stock Exchange ended down 251.97 points at its low for the day of 9,747.82
while the Topix index of all issues on the market's first section lost 20.89 points at 959.90.
Local investors were also cautious ahead of the FOMC meeting Tuesday, with some speculation of an interest rate cut
still lingering, said Koichi Seki, market analyst at Chuo Securities.
BOMBAY: Indian share prices closed one per cent higher largely on gains in technology stocks. The Bombay Stock
Exchange's 30-share BSE sensitive index rose 31.51 points to close at 3,007.85.
Dealers said traders, on the back of institutional buying, turned large buyers in select frontline new and old economy
counters, discounting fears of the possible negative impact of the drought on the economy.
SINGAPORE: Share prices in Singapore closed marginally lower as investors brushed aside economic data released
earlier confirming the recession is over. The Straits Times Index ended at 1,486.44, down 0.37 points from Thursday's
close.
HONG KONG: Share prices in Hong Kong closed 0.5 per cent lower led by several key property stocks, although
losses were limited by gains in China Mobile and China Unicom. The key Hang Seng index lost 54.14 points to close at
9,959.92.
KUALA LUMPUR: Malaysian share prices closed slightly higher in dull trade ahead of the US Federal Reserve
meeting to set interest rates. The Kuala Lumpur Stock Exchange composite index rose 0.85 points or 0.1 per cent to
close at 724.03.
JAKARTA: Indonesian share prices closed slightly lower in thin volumes led by select blue chips, with gains in Astra
and Sampoerna capping the index's fall. The Jakarta Stock Exchange composite index closed down 0.4 per cent or 1.718
points at 448.518.
SHANGHAI: China's Shanghai B-shares closed half a per cent lower with most investors sidelined amid weak
sentiment.
The Shanghai B-share index dipped 0.72 points to 149.60 while the A-share index lost 13.12 points or 0.8 per cent to
1,705.69.
TAIPEI: Taiwan share prices closed little changed as early gains led by financial stocks were eroded by late selling
elsewhere ahead of the US decision on interest rates. The weighted index closed up 0.63 points at 4,852.07.
MANILA: Philippine share prices fell 0.3 per cent on profit-taking with the Philippine Stock Exchange composite
index shedding 3.79 points to 1,098.58.
SEOUL: South Korean share prices rose 0.4 per cent. The composite index closed up 2.94 points at 695.39.
SYDNEY: The Australian sharemarket closed marginally lower as investors awaited the outcome of this week's US
Federal Reserve board meeting. The benchmark SP/ASX 200 index was down 3.0 points or 0.1 per cent at 3,103.8,
while the All Ordinaries index dropped 0.7 points to 3,052.1.
WELLINGTON: New Zealand shares declined slightly as investors digested the latest round of local corporate
news. The benchmark NZSE-40 capital index ended down 2.31 points or 0.1 per cent at 2,025.72.
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Singapore bounces back with 3.9 pc growth in Q2
SINGAPORE, Aug 12 (AFP): The Singapore economy grew by 3.9 per cent in the June quarter from a year earlier,
officials said Monday, confirming the island's rebound from a recession and prompting an upward revision of 2002
forecasts.
The ministry of trade and industry (MTI) said the second-quarter expansion was largely driven by a strong upturn in
foreign demand.
It was Singapore's first year-on-year gross domestic product (GDP) growth in five quarters. In the first quarter, GDP
shrank 1.5 per cent, and for all of 2001, the economy shrank two per cent, Singapore's worst recession in almost four
decades.
The economy grew 13.6 per cent in the second quarter on an annualised quarter-on-quarter basis, compared with 8.1
per cent in the previous three months.
"The recovery that we have is really a result of better external demand," MTI Deputy Secretary Ho Meng Kit said at a
media conference.
The MTI remained "cautiously optimistic for the rest of this year", raising the full year growth forecast to three to four
per cent, from the earlier range of two to four per cent.
Total demand grew 4.4 per cent from a year ago, reversing an 8.4 per cent contraction in the previous quarter, lifted
mainly by a 4.5 per cent jump in external demand.
"External demand contributed to the bulk of the pick-up in total demand," the ministry said, adding the surge came on
the back of the recovery in the major economies and global electronics demand.
Local demand also improved in the June quarter, rising four per cent from a 8.3 per cent slump in the last quarter.
External demand accounts for about 75 per cent of Singapore's overall economic activity and a worldwide slump last
year savaged the city-state's economy.
Despite the second-quarter upturn, the recovery was not broad-based.
The crucial manufacturing sector, which accounts for 22 per cent of GDP, posted the biggest improvement with a 14
per cent expansion after four quarters of decline.
"The main growth impetus came from the chemicals and chemical products industry, which surged by 87 per cent,
mainly due to higher production in the pharmaceutical industry," the ministry said.
Electronics output, which contributes to nearly half of the activity in the manufacturing sector, grew 1.8 per cent, the
first growth since the second quarter of 2001.
The ministry said total employment fell by 5,500 in the June quarter.
"The decline in employment has moderated compared to the sharp contractions of between 12,500 to 14,000 in the
three preceding quarters," the ministry said.
"Despite the uncertainties in the external environment, the recovery momentum, in particular in the manufacturing
sector, is likely to sustain growth in the Singapore economy into the second half of the year," the MTI said.
But it also noted that business expectations surveys show that as a result of a weaker than expected recovery in the US
economy and uncertain global electronics demand, manufacturers have generally become more cautious.
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News Corp heading for record $10b loss
SYDNEY, Aug 12 (AFP): Media giant News Corp is set to post a 10 billion dollar (5.9 billion US) full-year loss this
week, the largest in Australian corporate history, analysts said.
In an unwelcome distinction for Rupert Murdoch's company, the loss to be announced Wednesday is certain to dwarf
the previous 12-monthly record of 2.3 billion dollars recorded by BHP Ltd for the year to July 1999.
Shaw Stockbroking analyst Scott Marshall said News Corp's problems stemmed from a series of failed long-term
investments that forced it to write off almost 11 billion dollars over the year, overshadowing strong performances from
its core businesses.
"There's the underlying businesses, which are performing well, and the other interests Murdoch has acquired which
were considered investments in the long-term future of the company and aren't going anywhere in a hurry," Marshall
said.
The Gemstar electronic television guide in the United States cost News Corp more than 8.0 billion alone, and forays
into the German and Italian pay-TV also proved expensive failures.
Murdoch criticised markets for undervaluing News Corp shares when announcing quarterly results in May but EL and
C Baillieu analyst Ivor Ries said investors would remain cautious while the long-term outlook remained uncertain.
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