GAINS in index-linked stocks pushed the Kuala Lumpur Stock Exchange Composite Index up 1.29 points to close at a new high of 662.02 yesterday. The previous high was on April 7 when the index closed at 661.35. ''The market is showing strong resistance which reflects the bullish sentiment,'' said a dealer. But activity slowed down after heavy volumes in the last two weeks due to trading restrictions imposed by brokers. SINGAPORE THE Straits Times Industrial index ended at a new closing high for the third day running as optimism spread over prospects of better corporate earnings. The index jumped 31.95 points or 1.85 per cent to 1,763.35 after another hectic day of trading. It hit an all-time high of 1,766.71 in late afternoon before last-minute profit-taking set in. Brokers said expectations of a global economic recovery boosted optimism over the export-dependent Singapore economy. Some investors switched holdings to Singapore shares from Malaysian shares after brokerage houses in Kuala Lumpur imposed stricter trading rules, they said. TOKYO STOCKS ended lower in lacklustre trade, with the Nikkei average slipping 377.98 points or 1.83 per cent to 20,297.86. Profit-taking and dealer position-squaring ahead of the weekend hit prices as the market faced adjustment after recent rallies. About 550 million shares were traded. ''Trade is pretty quiet, with investors retreating to the sidelines'' said a trader. ''Since turnover remains light, moderate index-linked selling by investment trusts can have a large impact on the market.'' The market was at a stalemate as price movements of large-capital and blue-chip issues, which led a recent rally, had become sluggish, brokers said. TAIPEI LATE selling on unconfirmed media reports that Taiwan might be included on a list of unfair traders by the United States pulled prices to end sharply lower. The weighted index slid 161.3 points to 4,534.19. Turnover was higher than previous levels at NT$42.87 billion. The market was up slightly in early trade after the central bank announced that it would release $120 billion of postal savings funds to the banking system over one year to ease current tight liquidity. But media reports of possible US trade sanctions sparked selling in the last trading hour. SEOUL A SELLING spree across the board pulled stocks down in late trading despite some intervention from institutions. But brokers said the market was still buoyant with investors remaining in positive mood. The Composite Index fell 9.9 points to close at 706.86 after fluctuating in a wide range, including an eight-point gain in mid-morning. Losers outnumbered gainers by 570 to 177 with 86 unchanged. SYDNEY STOCKS managed to end the week with the key market indicator above the psychological level of 1,700 points. Stocks traded in a tight range and ended only marginally down after making big gains during the week. Brokers were left in a bullish mood. ''I think there will be a reluctance to let go now that it has gone through 1,700,'' a broker said. ''The next level we can look to target in the coming month will be 1,720 to 1,725.'' The All Ordinaries Index eased 0.9 point to 1,703.2. The index gained more than 30 points during the week after closing before the Easter break at 1,665.7. MANILA PRICES eased towards the end of trading as profit-takers cashed in on the slight rise led by oil issues at the opening. ''The oil index moved up since yesterday because of oil shows in Linapacan-B, so there was a big play right away until the early minutes of this morning, then suddenly profit-taking came in,'' said one analyst. The Manila Composite Index closed 2.57 points down at 1,580.68, while the Makati index fell sharply by 14.27 points to 1,602.45 on heavy selling. Combined turnover on the two trading floors fell to 2.66 billion shares worth 516.83 million pesos from Thursday's 4.71 billion shares worth 1.3 billion pesos. WELLINGTON SHARE prices closed firmer on reasonable volume with good interest in leaders Brierley Investments and Carter Holt Harvey. The market was underpinned by solid economic news during the week including gross domestic product in the December quarter of 1.5 per cent and a lower-than-expected rise in the consumer price index for the March quarter of 0.1 per cent. ''It's lookingwell bid,'' said one broker. Turnover was a solid NZ$37 million. JAKARTA THE market was active and most prices ended higher in yesterday's half-day trade. ''Trading was quiet in the opening, but sentiment turned to be bullish by the middle of the session. All worries about the high inflation rate seemed to have faded away,'' a broker said. The official index closed at 308.68 points against Thursday's 308.67. BANGKOK PRICES rose strongly in the afternoon session spurred by foreign buying of bank shares. The SET Index rose sharply before the close, finishing at the day's high at 888.96, up 14.41 points or 1.65 per cent, on a turnover of 4.65 billion baht. ''We think foreigners and local institutions are buying banks into their portfolios,'' said a broker. The Chinese share prices are provided by Telerate. All other prices are provided by Reuter.