HONG KONG, Aug 1: Asian shares closed mostly down on Friday after weaker than expected US data and disappointing corporate profit figures indicating firms are feeling the chill from a cooling world economy.

The Japanese bourse led the decliners among major markets, falling more than two per cent, with Nissan the latest firm to reveal a tumble in profits.

Elsewhere in Asia, Australia and South Korea fell more than one per cent, while Singapore and Taiwan also ended in the red.

But Hong Kong and Shanghai posted modest gains, apparently buoyed by comments from President Hu Jintao that the Chinese government was determined to maintain steady and rapid economic growth.

Overall, weaker than expected US economic growth of 1.9 per cent reported Thursday, a Wall Street slide and a surprising jump in US jobless data rattled investors in Asia.

Among smaller markets, India rose more than two per cent, but Indonesia fell 2.4 per cent.

TOKYO: Japanese share prices closed down 2.1 per cent, dealers said.The Tokyo Stock Exchange’s benchmark Nikkei-225 index slid 282.22 points to end at 13,094.59. The broader Topix index of all first-section shares shed 30.69 points or 2.35 per cent to 1,272.93.

The investor mood was soured not just by the bleak outlook for the US economy, but also by poor Japanese corporate earnings, Yoshinori Nagano, senior strategist at Daiwa Asset Management, told Dow Jones Newswires.

Investors refrained from buying ahead of key US jobs data and a cabinet reshuffle by Japanese Prime Minister Yasuo Fukuda.

Soured investor sentiment may linger for a while, said Tomochika Kitaoka, strategist at Mizuho Securities.

Sumitomo Mitsui Financial slumped 7.7 per cent to 783,000 yen after its first-quarter net profit roughly halved. NEC plunged 17 per cent to 495 yen after its net profits also roughly halved.

Nissin Food Products gained 4.2 per cent to 3,690 yen on robust operating earnings. Sharp Corp fell 5.0 per cent to 1,430 yen after its operating profit slid 13.8 per cent in the three months to June.

HONG KONG: Hong Kong share prices closed 0.6 per cent higher, dealers said.

The benchmark Hang Seng Index was up 131.5 points at 22,862.6. Turnover was 60.70 billion Hong Kong dollars (7.78 billion US).

Banking heavyweight HSBC gained 0.39 per cent and Hang Seng Bank surged 3.12 per cent. All eyes are now on HSBC’s result next week, which may help support buying interest, KGI Asia’s Ben Kwong told Dow Jones Newswires.

Kwong said he expects the index to stay comfortably above 22,000 next week.

SYDNEY: Australian share prices closed down 1.47 per cent, dealers said.

The benchmark S&P/ASX 200 index dropped 73.4 points to 4,904, while the broader All Ordinaries lost 74.6 points to 4978.

A total of 1.16 billion shares worth 4.2 billion Australian dollars (4.0 billion US) changed hands.

Shares in Suncorp, a general insurer and bank, plunged nearly 14 per cent after it warned 2008 profits would be cut by up to half because of a global credit squeeze, rising bad debt and higher insurance claims.

Plagued by higher funding cost and ongoing fears of further writedowns, the (financial) sector has now tumbled over 40 per cent since its 2007 November highs, said CMC Markets senior dealer Dominic Vaughan.

The market is punishing companies that are not meeting expectations at this stage. Suncorp shares ended at 11.53 Australian dollars. National Australia Bank lost 36 cents or 1.5 per cent to 24.34.

BHP Billiton lost 60 cents to 39.11 and fellow mining giant Rio Tinto fell 3.80 to 121.60.

SINGAPORE: Singapore share prices closed down 0.80 per cent, dealers said.

The blue-chip Straits Times Index closed 23.58 points lower at 2,906.07 on volume of 1.03 billion shares worth 1.15 billion Singapore dollars (841 million US).

Uncertainty is the main factor. Most investors are likely to trim their holdings before the weekend, Westcomb Securities said in a note.

KUALA LUMPUR: Malaysian share prices closed 0.3 per cent lower, dealers said.

The Kuala Lumpur Composite Index shed 3.99 points to close at 1,159.10.

Disappointing jobs data and lower-than-expected GDP growth in US sparked a selldown in regional markets and this spilled over into our market, a dealer told Dow Jones Newswires.

JAKARTA: Indonesian shares closed 2.4 per cent lower, traders said. The Indonesian Stock Exchange dropped 55.75 points to 2,248.75.

Indonesia’s annual inflation accelerated to a higher than expected 11.9 per cent in July, which could lead to a rate hike.

WELLINGTON: New Zealand share prices closed 1.00 per cent lower, dealers said.

The benchmark NZX-50 index dropped 33.12 points to 3,303.15.

The decline, following two days of strong gains, was fronted by market leader Telecom which fell 14 cents to $3.68.

MUMBAI: Indian shares closed 2.1 per cent higher, dealers said. The benchmark 30-share Sensex index rose 300.94 points to 14,656.69.—AFP