October 18, 2006	Wednesday	Ramazan 24, 1427

HONG KONG, Oct 17: Asian stocks closed lower on Tuesday after investors shrugged off another record close on Wall Street, with fears of a second North Korean nuclear test providing an excuse for profit taking.

As fears of another test rose in early trade, amid warnings from Japan and South Korea, shares were sharply sold down but by the close investors had regained much of their composure and the markets were off their lows.

Hong Kong was flat and Shanghai eased 0.42 percent as investors position themselves ahead of a massive stock offering by the Industrial and Commercial Bank of China. It will list on both stock markets next week.

TOKYO: Share prices lost ground for the first session in three, coming off five-months highs amid jitters about a stronger yen, upcoming earnings reports and North Korea.

The Nikkei-225 index dropped 81.17 points or 0.49 percent to 16,611.59.

Volume was 1.50 billion shares, up slightly from 1.49 billion on Monday.

Japanese investors were waiting for the US market reaction to results from Intel, the world's largest computer chipmaker, which often cause volatility on Wall Street, said Naito Securities analyst Youzou Asai.

HONG KONG: Share prices closed flat as gains in blue chips China Mobile and HSBC and renewed interest in some Chinese financials helped the market recover from losses posted in the morning session.

The market was weighed down in early trade on concerns that Industrial and Commercial Bank of China's ongoing initial public offering will drain more liquidity in the next few days.

The Hang Seng Index closed up 4.64 points at 18,014.84. Turnover was 33.7 billion Hong Kong dollars (4.3 billion US dollars).

SYDNEY: Share prices closed down 0.56 per cent as investors took profits after solid gains over the past week while fresh interest rate concerns weighed on the banking sector.

The market bucked a strong lead from Wall Street which finished at another record Monday but solid gains in metal and oil prices overnight supported miners and energy stocks.

The SP/ASX 200 fell 29.7 points to 5,281.3. Turnover was 1.60 billion shares worth 4.84 billion dollars (3.6 billion US).

SINGAPORE: Share prices closed 1.19 per cent lower in a technical pullback after a two-day record breaking run.

Losses across regional bourses on reports that North Korea may be preparing a second nuclear test also weighed on sentiment, dealers said.

The Straits Times Index closed 31.85 points lower at 2,637.70 on volume of 1.08 billion shares worth 1.02 billion Singapore dollars (646 million US).

KUALA LUMPUR: Share prices closed lower on extended profit-taking ahead of the release of Malaysia's September inflation data due to be released on Wednesday.

The composite index closed down 6.56 points at 977.23 on turnover of 566.54 million shares worth 819.05 million ringgit (234 million dollars).

EON Capital Securities research manager for charts Lee Cheng Hooi said that despite the market's current consolidation mode, he remains optimistic about the outlook for local equities.

JAKARTA: Share prices closed 0.32 per cent higher Tuesday, led by gains in mining and bank stocks.

The Jakarta Stock Exchange composite index closed up 5.038 points at 1,566.824, on volume of 1.92 billion shares valued at 1.55 trillion rupiah (168.94 million dollars).

Gainers led decliners 72 to 52, with 70 stocks unchanged.

The rupiah strengthened to 9,147/9,175 to the dollar, compared to 9,160/9,170 late Monday.

WELLINGTON: Share prices closed up 0.34 per cent at a five-month high following another record close on Wall Street.

The NZX-50 gross index rose 12.45 points to 3,675.46 on turnover worth 96.9 million dollars (63.9 million US).

ABN Amro Craigs retail advisor Bryon Burke said New Zealand was following world markets which have rallied strongly recently although the regional bourses were slightly softer on Tuesday.

MUMBAI: Share prices fell 0.34 per cent after hitting a new intraday high, as investors booked profits after a strong rally in recent days.

The 30-share Sensex index fell 44.35 points to 12,883.83.

Software and banking stocks fell.—AFP