HONG KONG, Nov 13: Asian stocks closed mostly up on Tuesday as investors recovered some poise after a major sell-off triggered by US woes, but unexpectedly good Japanese economic growth failed to staunch losses in Tokyo.
Japanese share prices fell 0.46 per cent to a fresh 15-month low even though official data showed the country’s economy grew by 0.6 per cent between July and September, ahead of forecasts.
The Nikkei-225 had tumbled on Monday amid an Asian rout following losses on Wall Street, where there are persistent fears of a US economic slowdown due to a major credit market crisis.
Share prices in Shanghai also fell, by 0.57 per cent, after China’s annual inflation rate rose to 6.5 per cent, triggering fears the authorities could raise borrowing costs to slow the economy and control consumer prices.
TOKYO: Japanese share prices fell for an eighth straight session, hitting a fresh 15-month low as worries about recent credit market turmoil continued to weigh on sentiment, dealers said.
But stronger-than-expected Japanese economic growth figures for the third quarter helped to limit the losses, with the Nikkei managing to remain above the key 15,000 points level, they added.
The Tokyo Stock Exchange’s benchmark Nikkei-225 index fell 70.46 points or 0.46 per cent to 15,126.63, the lowest level since July 26, 2006.
The broader Topix index of all first-section shares declined 1.67 points or 0.11 percent to 1,454.73.
HONG KONG: Hong Kong share prices closed up 0.5 per cent after an erratic session, as property developers drew interest on hopes that housing sales will get a boost from lower interest rates, dealers said.
The Hang Seng index closed up 137.62 points at 27,803.35, off a low of 26,952.94 and a high of 28,010.97. Turnover was 154.72 billion Hong Kong dollars (19.90 billion US).
SYDNEY: Australian shares closed up 0.9 per cent as investors, heartened by the strong domestic economy, snapped up bargains in the financial sector, dealers said.
The benchmark S&P/ASX 200 closed up 59.9 points at 6,515.2, while the broader All Ordinaries closed 47.6 points higher at 6,570.9.
Volume traded was 1.7 billion shares worth about 6.9 billion Australian dollars (6.3 billion US dollars). Decliners outstripped gainers 667 to 595, with 362 stocks unchanged.
SINGAPORE: Singapore share prices closed 1.02 per cent lower as worries persisted over a crisis in the US subprime mortgage sector, dealers said.
The main Straits Times Index ended 35.65 points lower at 3,475.47 on volume of 2.23 billion shares worth 2.74 billion dollars (1.88 billion US).
KUALA LUMPUR: Malaysian share prices rose 0.1 percent as a recovery in some regional markets prompted late bargain hunting, pushing the key index back into positive territory, dealers said.
The market is recovering but any upturn will be capped at the 1,393-point level as investors are still cautious and there are no fresh leads, said Phua Kwee Hock, technical analyst at SJ Securities.
The market is basically drifting with no real significant buyers, he said.
JAKARTA: Indonesian share prices closed 0.7 per cent lower with losses in major energy and commodity stocks offsetting gains in banks and other minor stocks, dealers said.
The Jakarta Stock Exchange composite index closed down 17.69 points at 2,654.21.
Volume was 5.64 billion shares worth 8.44 trillion rupiah (918.58 million dollars).
WELLINGTON: New Zealand shares closed up 0.4 per cent, recovering from a choppy start to the session after Fletcher Building maintained its profit guidance, dealers said.
The NZX-50 index closed up 18.02 points at 4107.15 as the market bounced back from a 1.1 percent fall Monday. Turnover was 85.8 million dollars (64.6 million US).
MUMBAI: Indian share prices rose 1.59 per cent to break six straight days of declines as investors sought bargains among blue-chip companies, dealers said.—AFP
