HONG KONG, Nov 27: Asian shares mostly rose on Tuesday after a multi-billion euro loan deal for Greece, but Shanghai closed near a four-year low over growing pessimism about the state of the world’s second biggest economy.

Tokyo closed up 0.37 per cent, or 34.36 points, at 9,423.30, Seoul rose 0.87 per cent, or 16.69 points, to 1,925.20 while Sydney ended 0.74 per cent, or 32.6 points, higher at 4,456.8.

Hong Kong ended flat, slipping 17.78 points to 21,844.03, while Shanghai fell 1.30 per cent, or 26.29 points, to 1,991.17 — the lowest close for the index since January 23, 2009. The IMF and eurozone early on Tuesday agreed to unlock 43.7bn euros in loans to debt-laden Greece after talks in Brussels.

Greek Prime Minister Antonis Samaras said the agreement represented a fresh start for his beleaguered country. “Everything has gone well,” Samaras told local media in Athens.

Europe’s main stock markets rose at the start of trading on Tuesday with London’s benchmark FTSE 100 index up 0.37 per cent and Frankfurt’s DAX 30 advancing 0.70 per cent.

But Shanghai stocks fell, with analysts saying the decline was caused by increasing concerns about the domestic economy and the absence of fresh government moves to support growth.

Ahead of the Greek announcement, the US markets were feeble in the first session after a slow Thanksgiving holiday week, with the jury still out over how strong the crucial Black Friday holiday sales were for retailers. The Dow Jones Industrial Average finished down 42.31 points (0.33 per cent) at 12,967.37.

The broad-market S&P 500 lost 2.86 (0.20 per cent) to 1,406.29, while the Nasdaq Composite rose 9.93 (0.33 per cent) to 2,976.78. On currency markets the euro was stronger in Asian trade as investors breathed a sigh of relief over the Greece agreement.

The 17-nation currency bought $1.2973 and 106.65 yen in Tokyo trade after earlier briefly topping $1.30 for the first time in about a month.

That was up from $1.2971 and 106.38 yen in New York trade late on Monday, although the euro eased slightly after the Greece announcement with investors taking profits and the focus turning towards a budgetary impasse in Washington. The dollar gained to 82.20 yen from 81.98 yen.

On oil markets, New York’s main contract, West Texas Intermediate (WTI) for January delivery, bounced 23 cents to $87.97 a barrel and Brent North Sea crude, also for January, rose three cents to $110.95.

Gold was at $1,746.42 at 1120 GMT compared with $1,734.47 late on Monday.

In other markets: Taipei raised 0.31 per cent, or 22.83 points, to 7,430.20. Taiwan Semiconductor Manufacturing Co gained 1.05 per cent to Tw$96.3 while leading smartphone maker HTC was 1.00 per cent lower at Tw$248.5.

Wellington was flat, falling 2.42 points, at 4,009.61. Telecom Corp was down 0.85 per cent at NZ$2.33 and Fletcher Building rose 0.13 per cent to NZ$7.98.

Manila was up 0.13 per cent, or 7.03 points, to close at a record high of 5,586.45. Philippine Long Distance Telephone rose 1.59 per cent to 2,550 pesos and Manila Electric Co. edged up 0.08 per cent to 255.20 pesos.

Singapore closed 0.25 per cent, or 7.41 points, higher at 3,011.91. Farm commodities supplier Olam tumbled 6.0 per cent to Sg$1.56.

Jakarta ended down 37.66 points, or 0.86 per cent, at 4,337.51. Retailer Ramayana Lestari dropped 4.86 per cent to 1,370 rupiah while cigarette maker Gudang Garam fell 0.76 per cent to 52,100 rupiah.

Kuala Lumpur fell 0.60 per cent, or 9.71 points, to 1,598.17. CIMB Group Holdings lost 1.1 per cent to 7.50 ringgit, while DiGi.com shed 0.7 per cent to 4.55. Bangkok gained 0.48 per cent, or 6.18 points, to 1,297.03.

Telecoms Company Advanced Info Service added 3.05 per cent to 203.00 baht, while coal producer Banpu edged up 1.02 per cent to 398.00 baht.

Mumbai closed up 1.65 per cent, or 305.07 points, at 18,842.08 rupees.—AFP