HONG KONG, Aug 28: Asian stocks closed mostly lower on Monday, with remarks from US Federal Reserve chairman Ben Bernanke providing no lead on the outlook for the US economy nor interest rates while a flat Wall Street Friday gave no support, dealers said.
They said the markets were subdued Friday as investors waited for a speech by Bernanke in the hope that after the Fed had left rates on hold earlier in the month he would paint a benign monetary policy picture.
In the event, he confined his comments to generalities, leaving investors to their own devices ahead of a heavy week of important US economic data, including revised second quarter Gross Domestic Product figures due Wednesday and the key employment report due Friday.
TOKYO: Japanese share prices closed 1.10 per cent lower with investors reluctant to buy into the market ahead of a slew of US economic data due out this week, dealers said.
Losers exceeded winners 1,458 to 174, with 50 stocks flat.
Volume fell to 1.37 billion shares from 1.49 billion on Friday.
HONG KONG: Hong Kong share prices closed 0.2 per cent weaker on uncertainty over the US economy and interest rates, with Federal Reserve chairman Ben Bernanke failing to give any policy hints in a speech last Friday, dealers said.
SYDNEY: Australian share prices closed flat as investor sentiment remained subdued following Wall Street's performance Friday and on continuing concerns over the planned government sale of a further stake in leading telco Telstra, dealers said.
SINGAPORE: Singapore share prices closed 1.07 per cent lower following Wall Street's mixed performance last week and a lack of new trading leads, dealers said.
KUALA LUMPUR: Malaysian share prices closed little changed as investors took a cautious stance ahead of Friday's release of the 2007 national budget, dealers said.
JAKARTA: Indonesian share prices closed little changed as the market held up despite a sell-off in Bakrie-related group stocks after Bumi Resources -- controlled by the Bakrie family -- cancelled the sale of its coal units, dealers said.
WELLINGTON: New Zealand share prices closed 0.40 per cent lower, dragged down by market leader Telecom, dealers said.
The NZX-50 gross index fell 13.82 points to 3,470.60 on turnover worth 141 million New Zealand dollars (89.9 million US). Falls led gains 55 to 49 among the 142 stocks traded.
MUMBAI: Indian share prices closed 0.41 per cent higher, supported by sporadic bouts of fund buying in blue chip companies, dealers said. The 30-share benchmark Sensex index rose 47.32 points to 11,619.52.—AFP