TOKYO, Jan 22: Share prices drifted lower on most Asian stock markets on Tuesday due to a lack of confidence among investors.
Dealers said market sentiment also turned negative with no fresh news, particularly from the United States where a public holiday kept Wall Street closed Monday.
However, in Tokyo stocks lost 2.2 per cent on fears over Japan’s economic demise after the yen sank to a fresh three-year low against the dollar.
The Nikkei-average of the Tokyo Stock Exchange shed 229.27 points to end at 10,050.98 while the Topix index of all issues on the market’s first section closed down 2.1 per cent or 20.70 points at 985.13.
HONG KONG: Hong Kong share prices dropped 1.8 per cent on selective profit-taking amid a lack of fresh news.
The key Hang Seng index lost 202.56 points to close at 10,797.69.
Dealers said share prices were lower on the back of falls in China Mobile and China Unicom, with investors concerned about their earnings outlooks after reports authorities may change regulations in an effort to lower call charges.
SYDNEY: The Australian share market closed 0.6 per cent higher after investors pushed into banking and key resources stocks.
The All Ordinaries index closed 19.9 points higher at 3,362.6, while the SP/ASX 200 gained 21.2 points to 3,421.5.
SINGAPORE: Singapore share prices closed 0.5 per cent lower in largely uninspired trading, with the Straits Times Index finishing 8.33 points softer at 1,663.18.
Investors were reluctant to take positions, preferring instead to wait for fresh leads, dealers said.
US Federal Reserve chairman Alan Greenspan’s upcoming speech this week was keenly awaited, they said.
KUALA LUMPUR: Malaysian share prices closed 0.8 per cent lower due to a lack of interest in the broader market with second-line stocks coming under heavy profit-taking.
The Kuala Lumpur Stock Exchange composite index fell 5.71 points to finish at 690.23.
JAKARTA: Indonesian shares closed 0.5 per cent higher as mild profit-taking in second-liners continued to undermine solid gains in selected blue chips.
The Jakarta Stock Exchange composite index ended up 2.321 points at 428.472.
WELLINGTON: A better-than-expected third quarter profit result from number two stock Carter Holt Harvey drove the New Zealand sharemarket 0.3 per cent higher.
The benchmark NZSE-40 index ended up 6.78 points at 2,113.67.
MUMBAI: Share prices inched down on the Bombay Stock Exchange (BSE) on lower-than-expected fourth quarter results by blue-chip Hindustan Lever and an attack on the American Centre in Calcutta, dealers said.
The 30-share BSE sensitive index closed down 14.01 points, or 0.4pc, at 3,368.28.—AFP