HONG KONG, Aug 23: Asian stocks closed mostly lower on Tuesday as the cost of crude edged higher with investors waiting for any impact on oil from the US energy stockpiles report due out later this week, dealers said.
They said the markets continued to consolidate near historically high levels as oil prices again neared 66 dollars a barrel with investors hoping the report will show a rise in crude stocks and provide some relief.
Only Tokyo went against the trend rising slightly to a fresh four year peak amid brighter prospects for the Japanese economy.
TOKYO: Share prices extended their winning streak, rising 0.16 per cent to a new four-year high as investors remained optimistic about prospects for Japan’s economy.
Dealers said uncertainty over next month’s snap election called by Prime Minister Junichiro Koizumi failed to dampen spirits, with polls showing growing support for the reform-minded incumbent.
Growing signs of recovery in the world’s number two economy were also luring in overseas buyers.
The Nikkei-225 index added 20.42 points to close at 12,472.93, on turnover of 2.24 billion shares.
Sumitomo Mitsui Financial Group dropped 39,000 yen to 891,000 and UFJ Holdings fell 21,000 yen to 670,000. Mitsubishi Tokyo Financial shed 30,000 yen to 1,090,000 and Mizuho fell 8,000 yen to 587,000.
HONG KONG: Share prices closed 1.61 per cent lower, with the benchmark slipping below the key 15,000-point level, as Hutchison Whampoa and Cheung Kong were heavily sold.
Hutchison closed down 3.05 at 76.10, while Cheung Kong fell 2.85 to 82.15. Both companies will report their first-half results on Thursday.
SYDNEY: Share prices closed down 0.32 per cent as investors punished companies with flat earnings outlooks and took profits after stocks hit all-time highs the previous day.
The benchmark S and P/ASX 200 index closed down 14.4 points at 4,484.9. A total of 1.11 billion shares worth 3.60 billion dollars (2.71 billion US) were traded during the day.
Bluescope closed down 0.47, or 4.66 per cent, at 9.62 dollars.
SINGAPORE: Share prices closed lower for the first time in four days on profit-taking with investors looking for leads as the current corporate earnings season draws to a close.
“The index has completed its consolidation phase and is likely to trend up towards its short-term resistance at 2,335 over the next 10 to 20 market days,” DBS Vickers said in a note to clients.
But the index should slide lower by the end of September with an immediate support level at 2,242, it said.
KUALA LUMPUR: Share prices closed flat, or 0.02 per cent lower in range-bound trade in the absence of fresh leads ahead of the release of second-quarter economic data Wednesday.
The composite index closed down 0.18 points at 923.79. Volume was 431.20 million shares, worth 650.50 million ringgit (172.5 dollars).
Among blue chips, Tenaga Nasional was flat at 11.0 ringgit, Telekom Malaysia gained 0.10 to 11.10, but Maybank lost 0.10 to 11.30.
JAKARTA: Share prices closed 0.95 per cent, the eighth straight day it has weakened amid mounting concern over the rupiah’s extended fall and the government’s seeming inaction.
The composite index closed down 10.261 points at 1,066.092 on volume of 4.61 billion shares worth 1.25 trillion rupiah (125.13 million dollars.)
The rupiah was at 10,095-10,105 to the dollar, off a low of 10,120-10,130, compared with Monday’s 10,030-10.035.
WELLINGTON: Share prices nudged up 0.08 per cent to a new high but strong early gains spurred by leading stock Telecom petered out in the afternoon.
The NZSX-50 index rose 2.71 points to 3,387.41 on turnover worth 133 million dollars (92.7 million US).
MUMBAI: Share prices closed 1.74 per cent lower as overseas investors sold index heavyweights after high oil prices rattled sentiment.
The 30-share Sensex index closed down 134.61 points or 1.74 per cent at 7,615.99. Volume totalled US$679 million.—AFP
