2007-Oct-12 07:39 AMUS stocks sank on Thursday as a downbeat...

2007-Oct-12 07:39 AM

US stocks sank on Thursday as a downbeat brokerage comment on Chinese Internet company Baidu.com Inc unnerved investors after record highs earlier in the day.

Earlier, a higher profit outlook from Wal-Mart Stores Inc had helped the Dow and S&P reach all-time highs.

The Dow Jones industrial average fell 63.57 points to 14,015.12.

The Standard & Poor's 500 Index lost 8.06 points to 1,554.41.

The Nasdaq Composite Index lost 39.41 points, or 1.40 per cent, to 2,772.20.

LONDON - UK stocks lifted as commodity stocks rallied on higher oil and metal prices and heavyweight Vodafone surged.

The FTSE 100 index rose 91.5 points to 6,724.5.

FRANKFURT - The DAX index jumped 47.12 points to 8,033.69.

PARIS - The CAC-40 index lifted 24.34 points to 5,862.83.

TOKYO - The Nikkei surged as ratings agency Moody's upgraded Japan's sovereign debt, lifting the mood for stocks in general, while shipping firms such as Mitsui OSK Lines Ltd jumped on rising freight rates.

The benchmark Nikkei added 281.09 points to 17,458.98.

HONG KONG - Stocks hit records on massive volume, lit by ample funds and a bullish outlook, as investors piled into China plays while a broker upgrade fired up China Shenhua more than 20 per cent.

The benchmark Hang Seng Index lifted 563.69 points to 29,133.02.

WELLINGTON - The sharemarket posted a small gain on Thursday, having lost ground in a series of small declines this week in contrast to record-breaking markets in Australia and the US.

The NZSX-50 index rose 16 points to 4296.61.