March 17, 2007	Saturday	Safar 27, 1428

HONG KONG, March 16: Asian stocks closed easier on Friday after a volatile week saw global markets roiled by fears growing problems in the US housing market could halt the stellar run of the past few years, dealers said.

They said most bourses were little changed for the week, having recovered from very heavy losses on Wednesday, but investor sentiment has been rattled by the second round of global turmoil since late February.

On the day, there was little to be gained from taking any fresh positions going into the weekend and ahead of key central bank meetings in the United States and Japan.

TOKYO: Japanese share prices closed down 0.69 per cent as investors remained wary about a stronger yen and problems brewing in the US housing sector, dealers said.

The Tokyo Stock Exchange's benchmark Nikkei-225 index of leading shares fell 116.24 points to 16,744.15. The TOPIX index of all issue on the Tokyo Stock Exchange's first section dropped 17.12 points or 1.01 per cent to 1,677.06.

Decliners beat gainers 1,320 to 329, with 81 stocks flat.

Volume rose to 2.4 billion shares from 2.3 billion on Thursday.

HONG KONG: Hong Kong share prices closed little changed after a choppy session as investors turned cautious ahead of results announcements from blue chip heavyweights next week, dealers said.

The market opened lower on worries over possible economic tightening measures in China but recovered soon on hopes of solid earnings from top stock China Mobile and some short-covering activity.

SYDNEY: Australian share prices closed down 0.29 per cent as sentiment remained cautious following the heavy sell-off earlier in the week on concerns at mounting problems in the US housing market, dealers said.

Turnover was 1.74 billion shares worth 7.92 billion dollars (6.27 billion US) as falls led gains 596 to 574, with 361 stocks unchanged.

SINGAPORE: Singapore share prices closed 0.84 per cent weaker, with sentiment dampened by a weak export performance for February and investor caution on the outlook for the US economy, dealers said.The main Straits Times Index fell 25.85 points to 3,068.75.

Volume was 1.11 billion shares worth 1.25 billion dollars (822 million US). Losers led gains 360 to 272, with 755 stocks unchanged.

KUALA LUMPUR: Malaysian share prices closed 0.16 per cent higher in cautious trade ahead of the weekend after falls in Tokyo and fears of a slowing US economy further dampened sentiment, dealers said.They said the late buying of selected blue-chips nudged the key index back into positive territory.

The Kuala Lumpur Composite Index gained 1.89 points at 1,182.20 on turnover of 992.08 million shares worth 1.3 billion ringgit (370.37 million dollars).

JAKARTA: Indonesian share prices closed little changed as continued strong gains in mining stocks were offset by profit-taking ahead of a long-weekend, dealers said.

The Jakarta Stock Exchange composite index edged up 1.529 points at 1,777.890, off a low of 1,771.696 and a high of 1,786.939. Volume was 1.87 billion shares worth 2.08 trillion rupiah (225.35 million dollars).

WELLINGTON: New Zealand share prices closed 0.41 per cent lower, with sentiment remaining uncertain after sharp falls in world markets earlier this week, dealers said.

The benchmark NZX-50 index fell 16.61 points to 4,037.59 on turnover of 124.7 million dollars (86.7 million US). Rises and falls were equal at 51 among the 143 stocks traded.

MUMBAI: Indian shares closed 0.9 per cent lower as investors unwound positions ahead of the weekend on fears of a further weakening of global markets, dealers said.

The 30-share Mumbai stock exchange Sensex index fell 113.45 points to 12,430.40.—AFP