April 28, 2007	Saturday	Rabi-us-Sani 10, 1428

HONG KONG, April 27: Asian stocks closed mostly lower on Friday with investors shrugging off another record performance by Wall Street and instead focussing on regional issues.

TOKYO: Share prices closed slightly lower Friday after soft domestic economic data offset the impact of another record finish on Wall Street.

Dealers said investors squared their positions before Japan enters the Golden Week holidays beginning this weekend.

The Nikkei-225 index 28.76 points to 17,400.41. Volume was 2.26 billion shares, up from 2.03 billion on Thursday.

HONG KONG: Share prices closed 0.68pc lower as investors locked in profits amid expectations China could take economic-tightening measures during Labor Day holidays next week.

Dealers said there was also some selling activity linked to the expiry of April futures contracts. China CITIC Bank posted strong gains on its debut but it lagged its A-share gains on the mainland.

The Hang Seng Index closed down 140.79 points at 20,526.50. Turnover was heavy at 64.17 billion Hong Kong dollars.

China CITIC Bank closed at $6.68, up 14pc from the IPO price of $5.86. It opened at $7.08, which was also its high for the day.

The H-share gains paled in comparison with the bank's A-shares in Shanghai, which closed at 11.37 yuan, up 96pc from the mainland offer price of 5.80 yuan.

SEOUL: Shares closed 0.68pc lower Friday on profit-taking, with sentiment depressed by weaker-than-expected industrial output data.

The KOSPI index fell 10.61 points to 1,542.52. Volume was 349 million shares worth 4.4 trillion won.

South Korean industrial output was up 3.1pc year-on-year in March, missing a market consensus forecast of a 5.5pc rise.

SHANGHAI: Shares prices closed 0.61pc lower, coming off record highs as institutional investors booked profits ahead of next week's Labour Day holidays.

Dealers said property and steel stocks were lower, while banks also fell despite very strong gains for CITIC Bank on its debut in Shanghai after the world's biggest Initial Public Offer (IPO) so far this year.

The overall downturn snapped a 4-day record-breaking streak. The Shanghai Composite Index lost 23.20 points at 3,759.87 on turnover of 162.82 billion yuan.

SYDNEY: Share prices slumped almost 1.0pc as investors took profits after a sharp reverse in commodity prices overnight.

Dealers said here was little local direction and investors were cautious ahead of the release of US first quarter growth data later Friday, hoping that the figures will give them a better fix on the outlook for the US economy and interest rates.

Volumes were heavy, with some signs that investors were looking to a period of consolidation after the recent record breaking run.

The SP/ASX 200 dropped 60.6 points to 6,151.6. Turnover was 1.64 billion shares worth 8.85 billion dollars.

SINGAPORE: Share prices fell 0.24pc on profit-taking ahead of the weekend.

The Straits Times Index fell 8.29 points to 3,398.6. Volume totalled 2.55 billion shares worth 2.11 billion Singapore dollars.

“I think the market is already overbought and that needs to be adjusted a little bit by profit-taking,” said a dealer with a European brokerage.

KUALA LUMPUR: Share prices closed 0.66pc higher following a record-setting rise in the Dow Jones Industrial Average overnight.

Dealers said gains were however capped by some profit-taking as investors cut positions ahead of a shortened trading week due to public holidays on May 1 and 2.

The composite index closed up 8.80 points at 1,324.77. Volume traded was 1.47 billion shares valued at 2.79 billion ringgit.

BANGKOK: Share prices closed 0.63pc higher, bucking a sluggish regional market, as foreign investors bought banking and energy stocks on bargain hunting.

But dealers said the market failed to break the key 700-point barrier amid post-coup political uncertainty as allies of deposed premier Thaksin Shinawatra were set to rally against the military-backed government later in the day.

The composite index rose 4.32 points to 695.11 on turnover of 1.3 billion shares worth 8.8 billion baht.

JAKARTA: Share prices closed up 0.18pc as gains in mid-cap stocks offset profit taking in selected blue chips, with the main index finishing at a new record high.

The composite index closed up 3.643 points at 2,019.676. Volume was 5.75 billion shares worth 3.97 trillion rupiah.

MANILA: Share prices closed 0.95pc lower as investors took profits on blue chips.

Dealers said the broader market consolidated after a two-day surge, with investors cashing in on gains in select stocks to buy shares of newly-listed National Reinsurance Corp of the Philippines (Philnare).

The composite index lost 31.96 points to 3,318.38. Turnover was 3.4 billion shares worth 4.78 billion pesos.

WELLINGTON: Share prices rose 0.16pc, with the benchmark index holding its ground despite a fall in the Australian market.

The NZX-50 gross index closed up 6.54 points at 4,181.45 on turnover worth 104.7 million dollars.

MUMBAI: Share prices fell 2.25pc, snapping five straight days of gains, on weak Asian trends as investors locked in gains.

Dealers said investors chose to book profit ahead of the weekend after higher full-year earnings for most Indian companies reported in April.

The Mumbai 30-share Sensex fell 320.3 points to 13,908.58. India's largest private sector Reliance Industries and largest telecom firm Bharti Airtel dropped after earnings data was announced.

“The markets could see some correction in days ahead after the recent sharp run-up,” said Hiten Shah, fund manager at Fortune Financial Services.

Bharti fell 35.8 rupees to 826.25.—AFP