HONG KONG, July 12: Asian stocks were narrowly mixed again on Wednesday, with trade muted as investors waited for an expected Bank of Japan interest rate hike on Friday to set the tone, dealers said.
They said there were concerns about the terrorist threat after deadly blasts on commuter trains in Mumbai left 183 dead Tuesday but in the event, shares there rose sharply as investors focused more on India's positive economic fundamentals.
The impact elsewhere was very limited, with most trying to second guess what the BoJ may say Friday about possible further monetary policy tightening if it ends nearly six years of zero-rate lending costs.
The markets are convinced that after solid economic data, the BoJ will finally raise interest rates to 0.25 per cent, a still very low level but a sign of a return to normality for Japan after years in the deflation doldrums.
TOKYO: Japanese share prices closed 1.45 per cent lower as investors remained cautious ahead of a key Bank of Japan meeting on interest rates, dealers said.
The Tokyo Stock Exchange's benchmark Nikkei-225 index lost 224.50 points to 15,249.32. The broader TOPIX index of all first-section shares dropped 22.16 points or 1.40 per cent to 1,563.69.
HONG KONG: Hong Kong share prices closed 0.19 per cent higher on gains the metals stocks after a rise in commodity prices overnight but trade was moderate in the absence of a clear Wall Street lead, dealers said.
SYDNEY: Australian share prices closed 0.41 per cent higher as resource stocks got a boost from sharp gains in base and precious metal prices, dealers said.
The benchmark SP/ASX 200 rose 21.1 points at 5,128.3 while the broader All Ordinaries was up 22.0 points at 5,093.4.
SINGAPORE: Singapore share prices closed 0.28 per cent higher but trade was cautious ahead of the corporate results season, dealers said.
KUALA LUMPUR: Malaysian share prices closed 0.39 per cent higher as investors chased speculative stocks, with trading activity dominated by second-liners, dealers said.
JAKARTA: Indonesian share prices closed 0.14 per cent higher, supported by gains in select bank and mining stocks, dealers said.
WELLINGTON: New Zealand share prices closed 0.18 per cent higher, supported by continued gains in market leader Telecom after its recent sustained losses, dealers said.
MUMBAI: Indian share prices closed 2.97 per cent higher, showing strong resilience a day after blasts on crowded consumer trains left more than 180 people dead, dealers said.—AFP
