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HONG KONG, Sept 22: Asian stocks closed lower on Friday, hit by losses on Wall Street after US data showing a surprise contraction in a key industrial region pointed to a possibly sharper-than-expected US slowdown, dealers said.
They said this was more than enough to offset any lingering feel-good factor from the US Federal Reserve's decision to leave interest rates on hold, with that move now being taken instead as another indicator that all may not be well with the US economy.
This report is likely to cause a stir in the markets as it gives the impression that manufacturing is following housing downward, he said.
TOKYO: Japanese share prices sank to a six-week low on fears that a global economic slowdown will undercut company profits, dealers said.
The Tokyo Stock Exchange's benchmark Nikkei-225 index tumbled 199.56 points or 1.26 per cent to 15,634.67, the lowest closing level since August 11.
The broader TOPIX index of all first-section shares dropped 16.48 points or 1.04 per cent to 1,563.60 for its weakest finish since August 8.
Losers led gains 1,267 to 346, with 84 stocks flat. Volume was 1.44 billion shares, down from 1.46 billion Thursday.
HONG KONG: Hong Kong share prices closed off their lows as a stronger-than-expected debut for China Merchants Bank encouraged investors to pick up select blue chips in late trade, dealers said.
The Hang Seng Index fell 19.32 points or 0.11 per cent to 17,600.65, off a low of 17,511.96 and a high of 17,639.13. Turnover was a heavy 50.28 billion dollars (6.45 billion US).
SYDNEY: Australian shares prices closed 0.25 per cent lower as losses in the the banks offset bargain hunting in resource stocks following an overnight jump in metal prices, dealers said.
The benchmark S&P/ASX 200 shed 12.7 points at 4,983.2 while the broader All Ordinaries Index fell 11.0 points to 4,948.4.
SINGAPORE: Singapore share prices closed 0.70 per cent lower, weighed down by Wall Street's overnight decline on renewed worries the US economy may be cooling down faster than expected, dealers said.The Straits Times Index fell 17.76 points to 2,520.50.
KUALA LUMPUR: Malaysian share prices closed little changed, with investors sidelined ahead of a central bank decision on interest rates next week, dealers said.
JAKARTA: Indonesian share prices closed 0.23 per cent higher, with the main index supported by gains in major banks but the broad market coming under some pressure from profit takers, dealers said. The central bank has cut its key rate by 150 basis points so far this year.
WELLINGTON: New Zealand share prices closed 0.73 per cent lower following a sharp fall in market leader Telecom and weaker sentiment in overseas markets, dealers said.
The NZX-50 gross index fell 25.76 points to 3,506.85 on heavy turnover of 212.2 million New Zealand dollars (135.9 million US). Falls led gains 53 to 38 among 1the 36 stocks traded.
MUMBAI: Indian share prices closed down 0.31 per cent, snapping two days of strong gains amid bearish global stock market sentiment triggered by fears of a US economic slowdown, dealers said.—AFP
