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HONG KONG, Sept 28: Asian stocks closed mixed on Friday with investors adopting a cautious stance amid end of quarter window dressing and mild gains by Wall Street overnight.
Most markets were also bereft of solid domestic leads. But given the volatility of the markets over recent months, primarily due to fears of a credit squeeze stemming from the subprime mortgage crisis in the United States, most investors were content with the sidelines.
Shanghai stood out with 2.64 percent surge to another record close. A 0.29 percent gain in Hong Kong and a 0.5 rise in Sydney resulted in those markets also striking record finishes. Bangkok was up 0.29 percent.
Seoul, Taipei, Kuala Lumpur and Manila closed little changed while gains elsewhere were mild.
Wellington eased 0.16 percent, Jakarta was down 0.8 percent ahead of the release of inflation data while Singapore fell 0.23 percent on profit taking at record peaks. Tokyo was down 0.28 percent
TOKYO: Japanese share prices closed mixed in subdued trading as investors refrained from buying ahead of a key central bank survey of business sentiment due next week.
Dealers said a raft of domestic data had given mixed signals on the health of the world’s second largest economy, while modest overnight gains on Wall Street failed to inspire investors here.
The Nikkei-225 index of leading shares fell 46.53 points to 16,785.69.
Turnover dropped to 1.86 billion shares from 2.08 billion shares Thursday.
Economic data released early Friday were mixed but mainly within market expectations. Some players focused on signs the economy is on firmer footing while some others were nervous about signs of weakness.
Industrial output rose by 3.4 percent in August from the previous month, the government said, predicting production would fall 0.8 percent in September before expanding 4.1 percent in October.
HONG KONG: Share prices closed at yet another record high as China stocks drew strong interest in late trade, helping the market finish the third quarter on a strong note.
Dealers noted that several H-share firms drew strong interest after the Shanghai bourse hit a new high, with oil counters in the limelight after crude prices moved back to above 83 US dollars a barrel.
Select blue chips also gained due to window-dressing activity by fund managers on the last trading day of September, but China property stocks finished weaker after Beijing announced new measures to cool the sector.
The Hang Seng index closed up 77.32 points at 27,142.47. Turnover also hit a new all-time-high at 148.58 billion Hong Kong dollars (19 billion US).
SYDNEY: Australian share prices closed up 0.5 per cent, led by mining giant BHP Billiton on expectations of continuing strong commodity prices.
The S&P/ASX 200 ended up 29.7 points at 6,567.8. Volume traded was 2.2 billion shares worth 11.8 billion dollars (10.44 billion US).
“It’s been a strong end to the quarter based on fundamentals,” said Bell Potter Securities private client advisor Stuart Smith.
BHP Billiton ended up 1.03 dollars or 2.4 percent at a record 44.55 after trading as high as 44.99. Rio Tinto rose 77 cents or 0.7 percent to 108.22 dollars.
SINGAPORE: Share prices closed 0.23 per cent lower, easing back from the record high set a day earlier.
Dealers said profit-taking set in, despite gains in selected blue chips including oil and gas-related plays.
The Straits Times Index closed 8.54 points higher at 3,706.23 on volume of 3.1 billion shares worth 3.78 billion dollars (2.54 billion US).
KUALA LUMPUR: Malaysian share prices closed flat on profit-taking ahead of the weekend but higher trading volumes towards the close indicated sentiment remained fairly positive.
The composite index ended up 0.64 points at 1,336.30 on volume of 1.27 billion shares valued at 2.12 billion ringgit (621.7 million dollars).
JAKARTA: Jakarta share prices closed 0.8 per cent lower led by big-cap banks as investors cut their positions on caution ahead of September CPI data due out on Monday.
Higher food prices due to increased demand during the Muslim fasting month of Ramadan was likely the key factor behind the increase.
The composite index closed down 19.62 points to 2,359.21. Volume was 4.35 billion shares worth 4.21 trillion rupiah (460.10 million dollars).
WELLINGTON: New Zealand share prices closed 0.16 per cent lower despite gains in most offshore markets.
The NZX-50 index fell 6.91 points to 4,268.90 on turnover worth 211.7 million dollars (160.3 million US).
It was disappointing considering the US, European and Australian markets are having extremely good days today, Hamilton Hindin Greene partner Grant Williamson said.
Shares in casino and entertainment firm Sky City jumped after the company announced it had agreed to due diligence by a party interested in a potential takeover.
The market’s still very, very uncertain and will be looking for more direction in the weeks ahead from the directors, Williamson said.—AFP
