TOKYO, Jan 15: Asian share prices fell on Tuesday led by technology stocks after losses on Wall Street .
Stocks in Tokyo fell 2.2 per cent, with the overall tone cautious ahead of US and Japanese corporate results, dealers said.
Concerns over increased domestic bankruptcies put indebted sectors such as construction stocks under pressure, while defensive issues including utilities and transport companies benefited from the technology sell-off, they added.
The key Nikkei-225 index of the Tokyo Stock Exchange closed at 10,208.05, down 233.54 points from Friday’s finish. There was no trading on Monday for a public holiday.
In the United States Monday, the tech-heavy Nasdaq fell 1.6 per cent and the Dow Jones industrials lost 1.0 per cent.
US corporate big guns like Intel, Microsoft, Sun Microsystem and IBM, are among those due to release quarterly results in the US this week while Japanese counterparts NEC Corp. and Sony Corp. will report third quarter results later this month.
The market is nervous ahead of the earnings — at five-times sales, the microchip-sector prices might be overvalued — and also there was the normal build up for Christmas and now we are back to flat order books, said BNP Paribas strategist Jean-Pascal Rolandez.
Probably we have seen the trough in the autumn but the market was clearly expecting an upward trend, he added.
HONG KONG: Hong Kong share prices dropped 1.7 per cent on renewed concerns over the US economy.
The key Hang Seng index lost 195.84 points to close at 10,013.59.
Trading volume remained thin for the day, with investors remaining cautious ahead of the release of major US corporate earnings for the December quarter, said Conita Hung, head of research with Mansion House Securities.
SYDNEY: Sydney shares barely moved, defying global falls amid strong support for Australian retailer Westfield’s successful takeover of Rodamco.
The All Ordinaries index fell 1.7 points to 3,348.7 while the SP/ASX 200 fell 1.1 points to 3,406.2.
KUALA LUMPUR: Malaysian share prices ended 0.3 per cent higher with foreign funds hunting for bargain bluechips.
The Kuala Lumpur Stock Exchange composite index rose 2.02 points to finish at 700.47.
Dealers said there was also some late buying support in select blue chips to help the composite index close above 700 points.
SINGAPORE: Singapore share prices closed 2.1 per cent weaker after US equity markets closed lower.
The Straits Times Index finished 37.04 points down at 1,694.48.
Market sentiment dampened after declines in US stocks in previous sessions, dealers said.
JAKARTA: Indonesian stocks closed 1.3 per cent higher on foreign interest in blue chips led by Telkom, while local investors provided some support for second-line stocks.
The Jakarta Stock Exchange composite index closed up 5.417 points at 421.254.
MUMBAI: Share prices closed sharply lower on the Bombay Stock Exchange (BSE) on foreign fund and trader selling amid increasing concerns over the technology sector.
The 30-share BSE sensitive index closed down 55.32 points or 1.6 percent at 3,352.52.
WELLINGTON: New Zealand’s sharemarket had another quiet day edging up 0.2 per cent despite market heavyweight Telecom ending down.
The NZSE-40 capital index rose 3.97 points to 2,095.27.
Stephen Wright of ASB Securities said Telecom, which had a rollercoaster day, had provided much of the drive for Tuesday’s small gain. After early gains, it ended down three cents at $5.28.—AFP