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HONG KONG, April 29: Asian stocks closed flat to lower on Friday after disappointing US first quarter growth figures muddied the outlook even further for investors hoping that the data would have provided a clear lead, dealers said. The US economy grew 3.1 per cent in the first quarter, the slowest pace in two years, even as inflation picked up, increasing concerns that the US Federal Reserve will continue hiking interest rates even if the economy slows, the worst possible combination for stocks.
HONG KONG: Hong Kong share prices closed flat, coming off early lows after heavy Wall Street losses following weaker-than-expected first quarter US growth data, dealers said.
They said sentiment was also dampened by weak earnings reports from some locally-listed companies but it appeared investors overall simply wanted to square positions before a long weekend, with the market closed Monday.
The Hang Seng Index closed down 0.45 points at 13,908.97, off a low of 13,801.18 and high of 13,913.10. Turnover was 16.02 billion Hong Kong dollars (2.1 billion US dollars). The Hang Seng China Enterprises Index lost 40.89 points or 0.87 per cent at 4,657.70.
SYDNEY: Australian share prices closed 0.7 per cent lower as the market responded to weaker-than-expected US economic growth figures that sent Wall Street tumbling, dealers said.
The benchmark SP/ASX 200 shed 28.4 points to 3,983.2, while the broader All Ordinaries index finished down 32.2 points at 3,943.1.
Market turnover was 1.08 billion shares worth 5.70 billion dollars (4.45 billion US) with 338 stocks up, 653 down and 299 unchanged.
SINGAPORE: Singapore shares closed 0.70 per cent lower in lacklustre trade ahead of a long weekend and amid concerns over disappointing corporate results and weak US first quarter growth data, dealers said.
The Straits Times Index fell 14.99 points to close at the day’s low of 2,125.25. Volume totalled 449 million shares worth 654 million Singapore dollars (399 million US). Declines led gains 257 to 143, with 716 stocks unchanged.
KUALA LUMPUR: Malaysian share prices closed 0.58 per cent higher, with early losses in line with weaker regional markets reversed by last-minute buying interest, dealers said.
The Kuala Lumpur Composite Index rose 5.11 points at 878.96. Volume was 306 million shares worth 797 million ringgit (210 million dollars). Losers and gainers were even at 318, while 337 stocks were unchanged.
JAKARTA: Indonesian share prices closed 0.84 per cent lower on continued concerns over the prospect for higher interest rates and exports following weaker-than-expected US first-quarter growth figures, dealers said.
The Jakarta Stock Exchange composite index closed down 8.744 points at 1,029.613 but was off an intra-day low of 1,022.018. Volume was 1.03 billion shares worth 1.16 trillion rupiah (121.6 million dollars).
WELLINGTON: New Zealand shares closed 0.48 per cent higher, led by Contact Energy after better-than expected interim results, dealers said.
The benchmark NZSX-50 gross index rose 14.32 points at 2,982.65 on turnover worth 111.3 million dollars (81.4 million US). A total of 148 stocks were traded, including 41 rises and 72 falls.—AFP
