Asian markets mostly sink

Published August 31, 2012

HONG KONG, Aug 31: Asian markets fell on Friday as a weak set of Japanese economic figures sent Tokyo diving, while dealers looked ahead to a speech by Federal Reserve chief Ben Bernanke later in the day.

Tokyo slipped 1.60 per cent, or 143.87 points, to 8,839.91, Seoul edged down 0.07 per cent, or 1.26 points, to 1,905.12, and Sydney nudged up 0.4 points to 4,316.1.

Hong Kong shed 0.36 per cent, or 70.34 points, to close at 19,482.57 and Shanghai lost 0.25 per cent, or 5.07 points, to 2,047.52.

The Dow fell 0.81 per cent, the S&P 500 slid 0.78 per cent and the Nasdaq 1.05 per cent.

On currency markets, in early European trade, the euro bought $1.2581 and 98.85 yen, compared with $1.2504 and 98.26 yen in New York late on Thursday. The dollar was trading at 78.56 yen against 78.59 yen.

Oil was higher, with New York’s main contract, light sweet crude for delivery in October gaining 39 cents to $95.01 a barrel in the late afternoon and Brent North Sea crude for October adding 52 cents to $113.17.

In other markets: Taipei raised 0.35 per cent, or 25.62 points, to 7,397.06. Smartphone maker HTC rose 1.78 per cent to Tw$258.0 while Taiwan Semiconductor Manufacturing Company was 0.73 per cent higher at Tw$83.3.

Manila closed 0.91 per cent higher, adding 46.88 points to 5,196.19. Alliance Global Group rose 0.34 per cent to 11.78 pesos and Metropolitan Bank and Trust Co. fell 2.62 per cent to 91.05 pesos.

Wellington rose 1.02 per cent, or 37.12 points, to 3,666.68.

Singapore closed up 0.45 per cent, or 13.64 points, to 3,025.46. Jakarta closed 0.9 per cent, or 34.75 points, higher, at 4060.33. Bangkok rose 1.06 per cent, or 12.93 points, to 1,227.48.

Mumbai ended 0.92 per cent, or 160.89 points, down at 17,380.75.

Kuala Lumpur was closed for a public holiday.—AFP