February 10, 2007	Saturday	Muharram 21, 1428

HONG KONG, Feb 9: Asian stocks closed mostly firmer on Friday, finding enough local leads to justify a solid performance after Wall Street was unnerved by a profit-warning from global banking giant HSBC, dealers said.

They said news Thursday that HSBC would have to take higher-than-expected bad debt provisions on its US sub-prime mortgage business prompted concerns that other US banks could face similar problems as the housing market slows.

The news, however, was already in the regional markets and while HSBC was weaker again in Hong Kong, investors were confident enough to take up other themes.

Sydney added 0.47 percent for another record finish -- the third in the week -- as investors banked on more strong corporate results after record earnings from BHP Billiton, the world's biggest miner.

TOKYO: Japanese share prices closed up 1.23 per cent, regaining the 17,500 points level as buyers emerged ahead of a three-day holiday weekend, encouraged by a weaker yen, dealers said.

The Tokyo Stock Exchange's Nikkei-225 index of leading shares added 211.85 points to 17,504.33, within sight of the previous Friday's near 10-month closing high of 17,547.11.

The broader TOPIX index of all first-section companies gained 24.91 points or 1.45 percent to 1,745.09. Gainers outnumbered decliners 1,263 to 339, with 114 stocks flat. Volume climbed to 2.3 billion shares from 2.2 billion on Thursday.

HONG KONG: Hong Kong share prices closed 0.28 per cent lower on profit-taking in select property stocks and China plays, with index heavyweight HSBC extending losses after warning of higher bad debt provisions for 2006, dealers said.

The Hang Seng Index lost 57.39 points at 20,677.66, off a low of 20,593.76 and a high of 20,771.09. For the week, the index was up 113.98 points or 0.55 per cent. Turnover was 48.9 billion dollars (6.3 billion US).

Although the market was down throughout the day, it held up quite well.

SYDNEY: Australian shares closed at new record highs following a week of strong earnings reports and expectation of more to come for the rest of the corporate reporting season, dealers said.

The benchmark S and P/ASX 200 was up 27.7 points or 0.47 percent at a record 5,927.2 while the broader All Ordinaries index climbed 26.4 points to an all-time high of 5,899.3.

Turnover was 1.66 billion shares worth 5.47 billion dollars (4.27 billion US), with rises outnumbering falls 717 to 523 and 328 stocks unchanged.

SINGAPORE: Singapore share prices closed 0.10 per cent higher, with Wall Street's decline and profit-taking after the local market's recent record-breaking run weighing down sentiment, dealers said.The Straits Times Index rose 3.13 points or 0.10 percent to 3,220.89.

Volume was 2.37 billion shares worth 2.45 billion dollars (1.6 billion US).

KUALA LUMPUR: Malaysian share prices closed 0.64 per cent lower as investors locked in profits ahead of the weekend, dealers said.

The Kuala Lumpur Composite Index lost 7.96 points to 1,240.87, off a low of 1,231.64 on volume of 2.71 billion shares worth 3.83 billion ringgit (1.1 billion dollars). Losers led gainers 510 to 421, with 263 stocks unchanged.

JAKARTA: Indonesian share prices closed 0.63 per cent lower on worries about the potential impact of the recent floods on corporate earnings and the loan quality of banks, dealers said.

The composite index was down 11.002 points at 1,740.317 on volume of 3.05 billion shares worth 2.2 trillion rupiah (243 million dollars). Decliners outnumbered gainers 70 to 69, with 64 stocks unchanged.

WELLINGTON: New Zealand share prices closed little changed after finding some support from top stock Telecom, dealers said.

The benchmark NZX-50 Index gained 3.40 points to 4,188.89 on turnover worth 163.77 million dollars (111.40 million US).

ASB Securities head of advisory Stephen Wright said trading had been mixed.

MUMBAI: Indian share prices fell 0.77 per cent as investors took profits on the market's sustained record breaking performance, dealers said.

It had hit a record close of 14,652.09 on Thursday.—AFP