HONG KONG, Nov 14: Asian stocks closed mostly lower on Monday with regional trade consolidating amid a lack of fresh leads and on a recent bounce, which followed a difficult October, dealers said. They said, however, that the overall mood remained optimistic given recent falls in the price of oil, resulting in an easing of inflationary fears, and an improved performance by Wall Street last Friday.
Investors were also expected to remain sidelined ahead of a slew of US data to be released this weak and if the economic fundamentals prove correct then a much hoped for end of year rally could materialise.
TOKYO: Share prices closed 0.28 per cent lower as investors locked in profits after the market’s rise to fresh four-year highs last week.
“The fall in share prices is simply a technical one. The market wants some time (to adjust) after the surge last week,” said Hideo Mizutani, chief economist at Sieg Securities.
“The upward trend of the Japanese market is unlikely to change, even if there is a temporary feeling of overheating from the recent gains,” he said.
The Nikkei-225 index fell 39.02 points to 14,116.04, the first decline in four sessions.
In the banks, Mizuho Financial Group lost 20,000 yen to 826,000, and in steel Sumitomo Metal Industries shed 13 yen to 415.
HONG KONG: Share prices closed 0.75 per cent lower on a lack of major positive trading leads, with Cheung Kong and Hutchison Whampoa leading the fall.
The Hang Seng Index lost 111.11 points to 14,629.49 on turnover of 17.1 billion Hong Kong dollars (2.19 billion US dollars).
Cheung Kong was down 0.90 dollars at 78.30, and Hutchison Whampoa down 1.50 at 73.00.
SYDNEY: Share prices closed 0.75 per cent higher as investors continued to favour leading resource stocks BHP Billiton and Rio Tinto.
The SP/ASX 200 index rose 34.1 points to 4,608.4, edging closer to the record finish of 4,671.7 on September 29. Turnover was 1.06 billion shares worth 3.36 billion dollars (US$2.52 billion).
SINGAPORE: Share prices closed 0.52 per cent lower, continuing to consolidate as investors found no fresh leads.
The Straits Times Index fell 11.88 points to 2,254.15. Volume totalled 763 million shares worth 619 million Singapore dollars (US$364 million).
KUALA LUMPUR: Share prices closed 0.24 per cent lower as foreign investor selling of selected blue chips continued.
The Composite Index fell 2.16 points to 896.19 on volume of 230.14 million shares worth 595.19 million ringgit (US$157.50 million).
JAKARTA: Share prices closed 1.09 per cent lower, extending losses as investors continued uneasy at the prospect of higher interest rates following a spike in inflation.
The Composite Index shed 11.251 points to 1,017.733 on volume of 859.63 million shares worth 928.66 billion rupiah (93.14 million dollars.)
Telkom was up 50 rupiah at 4,975, Indosat was up 50 to 5,000 rupiah, Gudang Garam was up 150 at 10,200, Bank Rakyat Indonesia was up 25 at 2,425 and Bank Central Asia was up 25 to 3,025.
WELLINGTON: Share prices closed 0.46 per cent higher, with market leader Telecom adding gloss to otherwise listless trade.
“It’s probably one of the quietest days in quite some time,” Forsyth Barr broker David Price said.
The NZSX-50 gross index rose 15.00 points to 3,284.44 on turnover of 82.8 million New Zealand dollars (US$56.9 million).
