HONG KONG, Oct 9: Asian stocks were mixed on Thursday as investors remained cautious about the global economy after a series of interest rate cuts by some of the world’s major central banks tried to revive confidence.

Hong Kong, South Korea and Taiwan all reduced borrowing costs, a day after central banks in the United States, Canada and Europe announced simultaneous cuts, followed soon afterwards by China.

Tokyo slipped 0.5 per cent -- to a five-year low -- following a rollercoaster session a day the index slipped more than nine per cent, its worst single day drop in 21 years.

Sydney lost 1.5 per cent, Taipei shed 1.45 per cent and Shanghai was almost one per cent off. However, traders in Hong Kong took heart from the rate cuts with the Hang Seng Index rising 3.3 per cent a day after plunging 8.2 percent, while Singapore added 3.4 per cent.

Seoul was also boosted, rising 0.6 per cent.

A $700 billion rescue package for the ailing US financial system agreed by lawmakers in Washington last week failed to lift investors despite.

Elsewhere Wellington was 0.13 per cent lower, Manila lost 0.8 per cent, while Kuala Lumpur was flat and Bangkok firmed by 1.55 per cent.

Jakarta was closed for a second day after the market shed more than 10 per cent in trading on Thursday.

TOKYO: Japanese shares ended 0.5 per cent lower, dealers said.

Stocks slipped in and out of positive territory a day after their biggest loss in two decades, with the benchmark Nikkei stock index finishing down 45.83 points at 9,157.49.

The Topix index of all first section shares climbed 6.10 points, or 0.68 percent, to end at 905.11.

Investors were also worried about upcoming earning reports from Japanese companies, which are likely to show the effects of a weaker global economy and stronger yen.

Aeon shares plunged 11 percent to 850 yen after the supermarket operator reported a fiscal first half net loss of 16.01 billion yen, compared with a year-earlier profit of 23.81 billion yen.

Sumitomo Mitsui Financial advanced 7.5 per cent to 601,000 yen and Mizuho Financial Group climbed 3.6 per cent to 374,000 yen.HONG KONG: Hong Kong share prices closed 3.3 per cent higher, dealers said.

The benchmark Hang Seng Index closed up 511.51 points at 15,943.24, after falling more than eight percent Wednesday.

Dealers said they do not expect the rally to persist as confidence is still fragile and weak US markets will weigh on sentiment.

SYDNEY: Australian shares closed down 1.5 per cent, dealers said.

The benchmark S&P/ASX200 fell 67.2 points to 4320.9, while the broader All Ordinaries lost 78.5 points at 4291.3.

A total of 1.6 billion shares valued at $5.6 billion (US$3.8 billion) changed hands, with 308 stocks up 840 down and 296 flat.

Energy stocks dragged the market down on lower crude oil prices while Commonwealth Bank alone accounted for 15 points of the fall.

The bank fell 6.1 percent to 42.40 dollars after issuing 2.0 billion dollars worth of shares at 38.00 dollars to fund its acquisition of BankWest from troubled British lender HBOS.

ANZ lost 35 cents or 2.06 percent to 16.65, National Australia Bank fell 62 cents or 2.55 percent to 23.73 and Westpac was off 17 cents or 0.78 percent to 21.50.

BHP Billiton lost six cents to 29.84 and rival Rio Tinto fell 3.11 or 3.83 per cent to 78.01.

SINGAPORE: Shares bounced back to close 3.40 per cent higher, dealers said.

The blue-chip Straits Times Index ended 69.10 points higher at 2,102.71, after finishing Wednesday at its lowest point since December 2004 on volume of 1.33 billion shares worth 1.38 billion Singapore dollars (940.31 million US).

Declining shares beat risers 278 to 250, with 777 stocks unchanged.

KUALA LUMPUR: Malaysian share prices closed flat Thursday, dealers said.

The Kuala Lumpur Composite Index shed 0.1 per cent or 1.30 points to 968.89.

Gainers included Sime, which rose 2.3 per cent to 6.70 ringgit, and IOI Corp, which added 2.2 per cent at 3.76. Among losers. AMMB lost 3.4 percent at 2.59 ringgit and Genting shed 3.8 percent at 5.00.

WELLINGTON: New Zealand shares closed down 0.13 per cent, dealers said.

The benchmark NZX-50 index fell 3.92 points to 2,944.40.

Bryon Burke of ABN Amro Craigs said a small fall was seen as positive by investors battered by recent slides in the local market. It used to be you needed the market to go up for it to be a good day, he said.

Discount retailer The Warehouse rose 40 cents, or 12.9 per cent, to $3.49 after saying it would close its grocery retailing stores.

Casino owner Sky City fell two cents to $3.12 and Cavalier dropped five cents to 2.35.—AFP