March 22, 2007	Thursday	Rabi-ul-Awwal 2, 1428

HONG KONG, March 21:Asian stocks closed mixed on Wednesday as investors waited for the end of a US Federal Reserve meeting later in the day while the Chinese markets put on a record breaking performance only weeks after sparking a global sell-off, dealers said.

A sharp spike in US mortgage defaults has stoked fears of a wider fallout which would hit consumer spending and so undercut demand for Asia's exports.

HONG KONG: Hong Kong share prices closed 0.82 per cent higher as blue chips China Mobile, Cheung Kong and Hutchison Whampoa were supported in late trade on expectations that they will report strong 2006 results, dealers said.

The market was quite active even though most investors remained cautious after recent volatility and ahead of the end of the US Federal Reserve meeting on interest rates later Wednesday.

SYDNEY: Australian share prices closed 0.25 pc lower in cautious trade, with investors waiting for the outcome of the US Federal Reserve meeting on interest rates later in the day, dealers said.

The benchmark SP/ASX 200 ended down 14.7 points at 5,861.9 while the broader All Ordinaries index shed 10.2 points at 5,846.3.

SINGAPORE: Singapore share prices closed 1.25 per cent higher as investors, buoyed by Wall Street's gains on Tuesday, bought into banks and blue chips, dealers said.

The Straits Times Index rose 38.81 points to 3,155.69 on volume of 1.42 billion shares worth US$908m. Gainers outnumbered losers 492 to 217, with 696 stocks unchanged.

KUALA LUMPUR: Malaysian share prices closed 0.34 per cent higher, extending gains after a positive close on Wall Street overnight, dealers said.

JAKARTA: Indonesian share prices closed 0.21 pc higher but the gains were checked by losses in heavyweight Telkom and the miners after tin and nickel prices fell overnight, dealers said.

WELLINGTON: New Zealand share prices closed 0.27 pc higher after market leader Telecom recovered some of the ground lost recently on concerns over its business outlook, dealers said.

The benchmark NZX-50 index rose 10.90 points to 4,052.51 on turnover of US$79.4 million.

MUMBAI: Indian share prices closed up 1.89pc, notching up gains for a third straight day, as investor fears about a possible US rate hike eased, dealers said.—AFP