HONG KONG, Sept 1: Asian stocks closed mostly higher on Friday but gains were capped by limited profit taking ahead of the release of key US employment data due out later in the day.

Dealers said recent rallies on the prospect the US Federal Reserve will leave interest rates unchanged when it next meets had provided investors with an excuse to book some profits.

Mutual funds supported a solid finish in Mumbai while Bangkok and Jakarta were sharply higher on improved inflation numbers.

Shanghai and Sydney were lower as profit taking won out on the day.

TOKYO: Share prices closed little changed as investors hesitated to take positions ahead of a key US employment report due later in the day that could underscore slowing US economic growth.

The Nikkei-225 index lost 6.51 points to 16,134.25. Volume declined to 1.50 billion shares from 1.66 billion on Thursday.

HONG KONG: Share prices closed 0.18 per cent higher on sustained interest in property on hopes the US Federal Reserve will keep interest rates unchanged at its next policy meeting.

SYDNEY: Share prices closed 0.36 per cent lower on profit-taking after recent solid gains, with investors waiting to see key US employment figures due later in the day for their next lead, dealers said.

The SP/ASX 200 fell 18.3 points to 5,097.1. Turnover was 1.10 billion shares worth 3.47 billion dollars (US$2.6 billion).

SINGAPORE: Share prices closed 0.37 per cent higher but gains were capped amid cautiousness over the next policy move by the US Federal Reserve.

KUALA LUMPUR: Share prices closed firmer as investors welcomed the government's corporate tax reduction plan in the 2007 Budget.

JAKARTA: Shares prices closed 0.92 per cent higher led by interest rate-sensitive stocks after the release of positive consumer price index (CPI) figures.

WELLINGTON: Share prices closed 0.12 per cent higher, with market leader Telecom again leading the way in mixed trading.

The NZX-50 gross index rose 4.19 points to 3,514.46 on turnover worth 137.4 million New Zealand dollars (US$90.1 million). Fletcher Building fell 12 cents to $8.55.

MUMBAI: Share prices closed up 0.68 per cent, on bargain hunting as mutual funds made selective stock purchases.—AFP