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HONG KONG, April 30: Asian stocks closed mostly lower on Monday as investors shrugged off last week's record close on Wall Street and instead focussed on slowing US economic data and monetary policy in China.
US gross domestic product (GDP) growth showed the world's largest economy had cooled dramatically to 1.3 per cent in the first quarter of 2007, highlighting concerns the US might slip into a recession.
HONG KONG: Share prices closed 1.01 per cent lower on worries China may announce further credit-tightening measures, including an interest rate hike, after raising the reserves requirement ratio of commercial banks.
SYDNEY: Share prices closed 0.23 per cent higher as investors were buoyed by another record finish on Wall Street Friday despite weaker than expected first quarter US growth figures.
The S&P/ASX 200 ended up 14.4 points at 6,166. A total of 1.56 billion shares worth 5.3 billion dollars (4.3 billion US) were traded.
SINGAPORE: Share prices closed 1.1 per cent lower ahead of the Labor Day holiday and concerns China might raise interest rates.
KUALA LUMPUR: Share prices closed 0.19 per cent lower in quiet trade amid concerns that a slowdown in the US economy may be sharper than earlier expected.
JAKARTA: Share prices closed 1.0 per cent lower on profit-taking in blue chips after last week's record-breaking run.
WELLINGTON: Share prices rose 0.31 per cent following gains in market leader Telecom ahead of its quarterly results later this week.
The NZX-50 gross index closed up 13.19 points at 4,194.64 on light turnover worth $77.6 million (US$57.3 million).
MUMBAI: Share prices fell 0.26 per cent as investors continued to unwind positions after a sharp run-up last week on improved quarterly earnings by Indian companies.
Dealers said investors chose to lock-in profits ahead of a two-day holiday starting Tuesday.—AFP
