HONG KONG, Sept 3: Asian shares closed mostly down on Wednesday despite the fall in oil prices, as data showing slowing Australian expansion underscored concerns about the cooling global economy.

The Sydney bourse shed 1.1 per cent after official figures showed the resource-rich Australian economy expanded at a slower annual rate of 2.7 per cent in the second quarter.

Among other major markets, Hong Kong fell 2.2 per cent and Singapore shed nearly two percent, while China and Taiwan also suffered notable falls.

But Japan, Asia’s biggest market, ended 0.64 per cent higher despite lingering uncertainty following Prime Minister Yasuo Fukuda’s abrupt resignation on Monday.

TOKYO: Japanese share prices closed up 0.64 per cent, dealers said.The Tokyo Stock Exchange’s benchmark Nikkei-225 index rose 80.12 points to close at 12,689.59. The broader Topix index of all first-section shares gained 8.18 points or 0.67 per cent to close at 1,220.55.

We may see high volatility in the market for a while, Kazuhiro Takahashi, equity market department general manager at Daiwa Securities SMBC, told Dow Jones Newswires.

Domestic political uncertainty after the surprise resignation of Prime Minister Yasuo Fukuda on Monday limited gains, dealers said.

HONG KONG: Hong Kong share prices closed 2.2 per cent down, dealers said.

The benchmark Hang Seng Index was off 457.4 points to 20,585.06. Turnover was 56.09 billion Hong Kong dollars (7.19 billion US). The index has fallen 26 per cent since the start of the year.

Oil producer CNOOC plunged 5.98 percent as crude prices continued to ease.

SYDNEY: Australian share prices closed down 1.1 per cent, dealers said.

The benchmark S&P/ASX 200 fell 56 points to 5,060, while the broader All Ordinaries lost 64.5 points to close at 5,130.5.

Market turnover was 1.35 billion shares worth 6.56 billion Australian dollars (5.38 billion US).

Dealers said figures confirming the Australian economy was in the midst of a slowdown outweighed the positive impact of Tuesday’s 25 basis point interest rate cut, with negative sentiment focusing on the resources sector.

The market isn’t rushing forward in a new blaze of glory with an interest rate cut, said Bill Bishop, private client adviser at ABN AMRO Morgans.

Rio Tinto plunged 6.2 percent to 112.52, and BHP Billiton fell 3.41 per cent to 37.95. Commonwealth was up 29 cents to 43.35. Telecoms giant Telstra closed up six cents at 4.41.

SINGAPORE: Singapore shares closed 1.90 per cent lower, dealers said.

The blue-chip Straits Times Index finished 52.41 points lower at 2,706.53 on volume of 893 million shares worth 1.20 billion Singapore dollars (834 million US).

CapitaLand fell 17 cents to 4.28 Singapore dollars. Noble Group was off 15 cents at 1.73. Neptune Orient Lines closed seven cents lower at 2.20. DBS dropped 30 cents to 17.80.

KUALA LUMPUR: Malaysian share prices ended 0.2 percent lower, dealers said.

The Kuala Lumpur Composite Index lost 1.61 points to close at 1,085.38.

Sime Darby fell 0.8 per cent at 6.60 ringgit. Telekom Malaysia lost 1.1 percent at 3.52 ringgit while IOI Corp. shed 0.4 percent at 4.96. Iris added 28.6 per cent at 13.5 sen.

JAKARTA: Indonesian shares closed down 2.0 per cent, dealers said.

The Jakarta Composite Index fell 2.0 per cent to 2,116.

Fears that selling in commodity stocks would continue Thursday due to falling oil prices hurt overall sentiment here, said a trader with BNI Securities.

Palm oil producers Astra Agro Lestari fell 6.5 per cent to 16,700 rupiah, rival London Sumatra dropped 5.4 percent to 5,250, and gold and nickel miner Aneka Tambang slid 5.6 percent to 1,700.

WELLINGTON: New Zealand share prices closed 0.18 per cent higher, dealers said.

The benchmark NZX-50 index rose 6.20 points to 3,373.45.

There was not much lead from offshore overnight, with the international markets putting in a mixed performance, said Grant Williamson, a partner at Hamilton Hindin Greene.

Fisher & Paykel Healthcare rose 11 cents to 3.31 dollars. Air New Zealand rose four cents to 1.18. Telecom was down nine cents at 3.19.

MUMBAI: Closed.—AFP