June 07, 2007	Thursday	Jamadi-ul-Awwal 21, 1428

HONG KONG, June 6: Asian stocks closed mixed on Wednesday with overnight falls on Wall Street and uncertainty clouding the Chinese markets combining to weigh down investor sentiment.

The prospect that US interest rates might not be cut in the near future was enough to upset New York trade while investors in Asia are still re-adjusting their positions in the wake of the sell off in China.

That was sparked after Beijing tripled taxes on stock transactions and resulted in volatile trade although that appeared to have settled in Shanghai and Shenzhen with some bargain hunters moving in.

Of markets that ended the day higher, their gains were less than convincing with Shanghai up 0.24 per cent, Tokyo rose 0.07 per cent, Taipei added just 0.13 per cent and Kuala Lumpur advanced 0.20 per cent into record territory.

TOKYO: Share prices closed little changed, pausing close to three-month highs as some profit-taking set in after an overnight retreat on Wall Street.

Dealers said the benchmark Nikkei index had managed to hold above the key 18,000 points level but investors lacked enough positive leads to chase shares even higher after four straight trading days of gains.

The Nikkei-225 index slipped 12.88 points to 18,040.93. Volume increased to 2.59 billion shares from 2.30 billion on Tuesday.

HONG KONG: Share prices closed 0.11 per cent weaker on worries over a possible increase in local interest rates amid a rise in interbank offer rates.

The Hang Seng Index closed down 23.54 points at 20,818.61. Turnover was 62.63 billion Hong Kong dollars (8 billion US).

SYDNEY: Share prices closed 0.53 per cent lower after stronger-than-expected growth data raised the prospect of an interest rate rise before year's end.

Dealers said official data showed the Australian economy grew 1.6 per cent in the March quarter, a three-year high and well above market expectations for a 1.2 per cent expansion.

SINGAPORE: Share prices closed 0.26 per cent lower as investors consolidated gains after the market's recent surge.

The Straits Times Index closed down 9.15 points at 3,563.75. Volume traded was 3.1 billion shares worth 2.41 billion Singapore dollars (1.58 billion US).

KUALA LUMPUR: Share prices closed 0.20 per cent higher, hitting a fresh record high as the rebound in China's stock markets fuelled some buying interest locally.

JAKARTA: Share prices closed 0.45 per cent higher on optimism the central bank will cut its benchmark rate by 25 basis points at its board meeting Thursday following a benign May consumer inflation report earlier this week.

The composite index closed up 9.334 points at 2,102.444. Volume was 7.06 billion shares valued at 4.98 trillion rupiah (559.24 million dollars).

WELLINGTON: Share prices closed 0.42 per cent lower with investor caution prompted by a soaring local currency and a looming central bank decision on interest rates.

The New Zealand dollar rose to new 25-year highs, closing local trading Wednesday at 75.45 US cents, putting downward pressure on stocks heavily reliant on exports.

MUMBAI: Share prices fell 1.92 per cent as local and overseas funds sold blue chip stocks.

Dealers said the funds sold leading companies in order to move into cash after stocks gained sharply in the past month.

The 30-share Sensex fell 279.08 points to 14,255.93.—AFP