HONG KONG, Aug 5: Asian stocks closed mostly down on Tuesday as investors worried about the cooling world economy, disappointing corporate profits and crucial upcoming interest rate decisions.

Hong Kong and Taiwan led the decliners among major regional bourses, falling 2.5 per cent. Poor results from banks such as HSBC and Bank of East Asia helped push the Hong Kong bourse lower.

The mainland Chinese stock market fell more than 1.8 per cent, with investors concerned that an upcoming flotation would drain demand for other shares.

The market in Wellington also finished down, with officials and economists saying New Zealand was likely to become the second developed country to slide into recession this year.

TOKYO: Japanese share prices lost ground for a third straight session as investors turned cautious ahead of another batch of company results and a US interest rate decision, dealers said.

The Tokyo Stock Exchange’s benchmark Nikkei-225 index slipped 18.52 points or 0.14 per cent to end at 12,914.66. The broader Topix index of all first-section shares declined 0.54 points or 0.04 per cent to 1,247.71.

The index staged an early rally but failed to hold above 13,000 points as buyers took to the sidelines ahead of a US Federal Reserve interest rate meeting.

SHONG KONG: Hong Kong share prices closed down 2.5 per cent, dealers said.

The Hang Seng index shed 565.17 points to end at 21,949.75 on volume of 63.99 billion Hong Kong dollars (8.2 billion US).

The poor market sentiment is being fuelled by uncertainty over the US economy, said Castor Pang, a strategist at Sun Hung Kai Financial.

SYDNEY: Australian shares closed down 1.4 per cent, dealers said.

The benchmark S&P/ASX 200 index shed 67.3 points to close at 4,820.4 while the broader All Ordinaries lost 75.6 points to end the day at 4,882.0.

The heavyweight miners were lower -- BHP Billiton dropped 6.6 per cent to 35.82 Australian dollars, Rio Tinto lost 6.2 per cent to 110.79 and Fortescue Metals shed 6.3 per cent to 7.50.

SINGAPORE: Singapore share prices closed 0.54 per cent lower, dealers said.

The blue-chip Straits Times Index was off 15.57 points at 2,860.51.

Volume traded totalled 1.36 billion shares worth 1.93 billion Singapore dollars (1.41 billion US).

KUALA LUMPUR: Malaysian share prices closed down 1.7 per cent, dealers said.

The Kuala Lumpur Composite Index shed 19.82 points to 1,128.86.

The sharp fall in crude palm oil prices triggered a selldown in plantation stocks, one dealer told Dow Jones Newswires.

JAKARTA: Indonesian shares closed 1.9 per cent lower, dealers said.

The Jakarta Composite Index slipped 42.06 points to 2,185.62.

News of the interest rate hike and massive selling in commodity-related stocks hurt overall sentiment, a trader told Dow Jones Newswires.

WELLINGTON: New Zealand share prices closed 0.7 per cent lower, dealers said.

The benchmark NZX-50 index fell 23.5 points to 3,295.68.

Telecom eased nine cents to 3.67 dollars. Fletcher Building was up seven cents to $6.35. Fisher & Paykel Appliances gained four cents to $1.98.

MUMBAI: Indian shares closed 2.63 per cent higher, dealers said.

The benchmark 30-share Sensex index rose 383.2 points to 14,961.07.

A further easing of crude prices could led to some moderation in India’s inflation, said Advait Date, a dealer at brokerage BHH Securities.—AFP