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UPDATE 2- Asian Markets: Telecoms ring up gains.

Europe Intelligence Wire

| August 08, 2003 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(From FT Investor (Stories))

Asian investors confidence was on the mend by the end of a nerve-wracking week helped by an encouraging set of second quarter results from the telecoms sector and upbeat data in Japan.

A strong second quarter from NTT DoCoMo and upbeat capital spending figures helped the Nikkei 225 in Tokyo to snap a four day losing streak. See more on Tokyo shares

Manila was one of the best performing markets in the region as foreign investors continued to return to the market after last month's unsuccessful mutiny.

The Philippines Composite index closed up 2.12 per cent at 1,232.88 helped by gains for telcoms stocks.

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