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HONG KONG, May 24: Asian stocks closed mostly lower on Thursday with investors consolidating positions amid several warnings over prospects for the Chinese markets which have risen steeply this year.
The warnings, by Chinese regulators, former US federal reserve chairman Alan Greenspan and the OECD sounded more than a note of caution in Chinese equities and raised fears that any sell-off in Shanghai would impact around the region.
TOKYO: Share prices closed flat as concern about an overnight drop on Wall Street and the health of China's markets kept buyers away.
The Nikkei-225 index slipped 8.15 points to 17,696.97. Volume fell to 1.90 billion shares from 2.18 billion on Thursday.
SYDNEY: Share prices dropped 1.2 per cent after former Federal Reserve chairman Alan Greenspan reportedly warned a “dramatic correction” is possible for Chinese equities.
The S&P/ASX 200 closed down 76.0 points at 6,279.1. A total of 1.87 billion shares worth 6.43 billion dollars (5.3 billion US) was traded.
SINGAPORE: Share prices closed 0.81 per cent lower on consolidation after a record-breaking run as investors turned cautious.
The Straits Times Index closed down 28.75 points at 3,530.26, on volume of 2.35 billion shares worth 2.28 billion dollars (1.49 billion US).
KUALA LUMPUR: Share prices closed 1.03 per cent lower on extended profit-taking, in line with regional markets after comments by former Federal Reserve chairman Alan Greenspan on China.
JAKARTA: Share prices closed 1.22 per cent lower on profit-taking after recent record-setting rallies.
WELLINGTON: Share prices rose 0.48 per cent for another record finish as Fletcher Building soared after its purchase of US-based Formica Corp.
The NZX-50 gross index rose 20.66 points to 4,333.24 on turnover of 213.9 million dollars (155.9 million US).
Fletcher Building shares closed up 62 cents at 13.27 dollars, after hitting an intraday high of 13.42.
The company said Thursday it raised 327 million dollars through a placement at 12.60 dollars, just a 0.4 percent discount to the prevailing price when trading was suspended Wednesday.
MUMBAI: Share prices closed 1.01 per cent lower, slipping for a second straight day as investors moved to cash-in earlier gains.
Dealers said weak Asian market trends and profit booking in index and mid-cap stocks kept the benchmark index weak.
The 30-share Sensex fell 145.15 points to 14,218.11.
“With local fund buying largely absent, selling pressure was strong after the sharp run-up in recent days,” said Advait Date, a dealer with brokerage BHH Securities.—AFP
