Asian stocks close mixed on muted Wall Street lead
HONG KONG, Sept 13: Asian stocks closed mixed on Tuesday, with a muted performance on Wall Street encouraging selective profit-taking after recent sustained gains to record levels in several markets, dealers said.
They said investors were clearly taking some money off the table ahead of a series of US economic figures and next week’s key US Federal Reserve meeting on interest rates.
The balance of opinion now is that the Fed will continue to hike rates at a measured pace rather than pause in the wake of Hurricane Katrina, as some had thought possible, but this is probably preferable for the sake of consistency.
Mumbai put in another record performance, adding 0.68 per cent.
TOKYO: Japanese share prices closed firmer, with the mood remaining upbeat in the wake of strong economic growth figures and the landslide election victory for market-friendly Prime Minister Junichiro Koizumi, dealers said.
The Tokyo Stock Exchange’s benchmark Nikkei-225 index gained 5.52 points to 12,901.95, a new four-year closing high, on turnover of 2.59 billion shares.
HONG KONG: Hong Kong share prices closed 0.85 per cent lower on caution ahead of a government land auction on September 27 and the US Federal Reserve meeting on interest rates next week, dealers said.
The Hang Seng index closed down 129.23 points at 15,070.56, off a low of 15,052.58 and a high of 15,192.92 on turnover of 14.46 billion Hong Kong dollars (1.8 billion dollars).
SYDNEY: Australian share prices closed 0.52 per cent higher as the resources sector attracted support on the back of increased base metal prices, dealers said.
The benchmark SP/ASX 200 was up 23.3 points at 4,495.1, while the broader All Ordinaries index rose 18.8 points at 4,456.3.
Market turnover was 1.01 bllion shares worth 3.36 billion dollars (2.59 billion US), with 504 shares down, 447 up and 335 steady.
CMC Markets’ analyst David Land said there were moderate gains across most sectors, although energy stocks struggled.
SINGAPORE: Singapore share prices closed 0.63 per cent lower on profit-taking in property stocks after recent gains, dealers said.
The Straits Times Index fell 14.76 points to 2,310.35. Volume was 780 million shares worth 771 million Singapore dollars (462 million US). Declines led gains 291 to 186, with 594 stocks unchanged.
KUALA LUMPUR: Malaysian shares prices closed 0.36 per cent lower in listless trade on a lack of fresh leads, dealers said.
The Kuala Lumpur Composite Index lost 3.35 points at 915.72. Volume was 418.32 million shares worth 644.80 million ringgit (171 million dollars). Losers outnumbered gainers 357 to 308.
JAKARTA: Indonesian share prices closed 1.80 per cent lower on profit-taking after recent sustained gains, with investors unsettled by the prospect of higher interest rates if upcoming fuel price hikes add to inflation pressures, dealers said.
The Jakarta Stock Exchange composite index closed down 19.913 points at 1,085.744 after five straight days of gains. Volume was 1.44 billion shares worth 1.36 trillion rupiah (134.5 million dollars). Declines led advancers 87 to 26, with 62 stocks unchanged.
WELLINGTON: New Zealand share prices edged 0.17 per cent higher after gains by market leader Telecom and other top stocks, dealers said.
The benchmark NZSX-50 index rose 5.75 points at 3,372.87 on turnover worth US$95.8m. Despite the headline index gain, falls led gains 57 to 47 among the 165 shares traded.
Telecom closed up two cents at 5.99 dollars.
MUMBAI: Indian share prices continued higher, adding 0.68 per cent for yet another record finish on the back of sustained support above the historic 8,000 points level, dealers said.
The 30-share Sensex index added 55.54 points to 8,193.96. —AFP
