ASIAN stock markets are likely to see little movement in the week ahead as many investors take a break from the dog days of summer, brokers say. Little impetus is expected from Wall Street, which closed at 5,713.49 on Friday, down 32.18 points. Brokers see little ahead to move the Tokyo market, bogged down by an expected oversupply of new stocks. The Taiwan, Seoul and Singapore markets are all coming off small gains, but are seen as range-bound or dipping slightly in the coming week. AUSTRALIA THE market outlook was seen mixed in the near term with early week trading expected to heed the reaction of US markets to the July inflation data. The All Ordinaries index ended at 2,221.7, up 13.1 points over the week as most investors waited for the budget and the major economic data due in the US. BANGKOK THE Stock Exchange of Thailand (SET) index is likely to slide as investors watch a new market support fund and worries remain over the government's stability. Part of the 21 billion baht (about HK$6.47 billion) fund is to be injected into the ailing market early next week. The market will be closed for a holiday tomorrow. The SET index ended at 1,119.33 on Friday, up from 1,104.83 the previous Friday. BOMBAY STOCKS are seen drifting lower with little to push the market, brokers said. Thursday is India's Independence Day, and many traders are planning a four-day break. The 30-share Bombay Stock Exchange index closed on Friday down 13.9 points, or 0.40 per cent, at 3,497.73. JAKARTA SHARE prices are seen range-bound as sentiment remains weak, new foreign buying is unlikely and investigations continue into July 27 riots in Jakarta, brokers said. On Friday, the Jakarta composite index closed at 547.71 points, down from 560.96 the week before.KUALA LUMPUR PRICES are expected to be mixed or higher this week after gaining 0.82 per cent last week as banks rise on expectations of higher profits. Over the week, the Kuala Lumpur Composite Index rose 9.03 points to 1,105.2. MANILA SHARES are seen sliding in the absence of trading impetus with investors sidelined ahead of the release of the US consumer price index on Tuesday. The composite index closed at 3,088.19 on Friday, down 67.03 points from the previous week. SEOUL THE Seoul stock market ended its half-day session higher on active buying of shares with small capitalisation, brokers said. The composite stock index rose 4.16 points to 836.77. Gainers led losers by 556 to 216 with 67 going limit up. The composite index closed at 832.61 on Friday, up 6.38 points, or 0.8 per cent, on the week. SINGAPORE SHARES are expected to fall on the lowering of the 1996 full year gross domestic product growth forecast to 7-8 per cent from 7.5-8.5 per cent. Dealers said the Straits Times Industrials Index could fall to 2,050. On Thursday it closed at 2,129.04, up 9.43 points from the previous week's 2,119.61. The market was closed on Friday for the National Day holiday. TAIPEISHARE prices in Taiwan finished 0.01 per cent lower yesterday amid cautious sentiment among investors. The Taiwan Stock Exchange weighted price index declined 0.78 points to 6,314.88. Turnover totalled 961 million shares worth NT$30.85 billion (about HK$8.75 billion) compared with 1.22 billion shares worth $40.72 billion in the previous session. Rising stocks outnumbered those falling 180 to 153, with 108 unchanged. Foods advanced 1 per cent, plastic and chemical issues gained 0.7 per cent, and electricals fell 0.9 per cent. 'It's a good time now for bargain hunting', said Alex Chiu of Capital Securities. The index ended Friday at 6,315.66 points, up from 6,160.99 a week earlier. A 6,250-6,600 range was seen for this week. TOKYO STOCKS are likely to remain feeble in the week ahead with many investors on holiday. On Friday the Nikkei-225 lost 180.26 points to close at 20,551.05. WELLINGTON NEW Zealand shares fell last week after a strong run as international orders slowed to a trickle. Brokers said it would take a further fall in interest rates to draw foreign buyers back. The Top-40 Index ended at 2,149.26 on Friday, down 30.05 points on the week.
