HONG KONG, Nov 22: Asian stocks closed mostly down on Thursday with Chinese shares slumping as fear of US economic woe and high oil prices trumped bargain hunting in the wake of an extended regional slide.
Shares in Shanghai tumbled 4.41 per cent, Hong Kong fell 2.3 percent, Singapore shed 1.03 per cent, Sydney was down 0.8 per cent and Seoul fell 0.4 per cent.
Fears that a US economic slowdown could hit Chinese export growth weighed on Shanghai. Dealers said investors also sold existing holdings to free up cash for China Railway Group’s impending multi-billion-dollar flotation. Some bourses bucked the trend, notably Tokyo which rose 0.34 per cent.
TOKYO: Japanese share prices ended mixed with the benchmark index climbing 0.34 per cent as bargain-hunters emerged a day after the market slipped to a 16-month low, dealers said.
Dealers said the mood was lifted as the dollar rose from some of its recent losses to the yen, which is good news for exporters.
The Tokyo Stock Exchange’s benchmark Nikkei-225 index gained 51.11 points to close at 14,888.77 on an afternoon rally ahead of a three-day weekend.
HONG KONG: Hong Kong share prices closed down 2.3 per cent as a tumble on the Shanghai bourse helped trigger another bout of selling, dealers said.
The Hang Seng Index closed down 613.27 points at 26,004.92, off a low of 25,861.73. Turnover was 123.7 billion Hong Kong dollars (15.9 billion US).
The main index has shed some 18 percent since a peak in October.
SYDNEY: Australian share prices closed down 0.8 per cent, tracking losses in other markets, dealers said.
The benchmark S&P/ASX 200 closed 50 points lower at 6,334.3, while the broader All Ordinaries closed down 55.1 points at 6,395.1.
Volume reached 3.43 billion shares worth $6.47 billion (5.67 billion US). Decliners outstripped gainers 929 to 367, with 359 unchanged.
SINGAPORE: Singapore share prices closed 1.03 per cent lower as worries over the health of the US economy continued to hound the local bourse, dealers said.
The Straits Times Index fell 34.32 points to 3,312.88 on volume of 1.79 billion shares worth 2.05 billion dollars (1.41 billion US).
KUALA LUMPUR: Malaysian share prices fell 1.2 per cent after the Shanghai composite index tumbled on concerns about the global economy amid high oil prices, dealers said.
The Kuala Lumpur Composite Index fell 15.69 points at 1,344.16 on volume of 932 million shares valued at 1.6 billion ringgit ($485 million).
JAKARTA: Indonesian share prices closed 0.2 per cent up after a volatile session, with gains in telecom carriers Telkom and Indosat driving the main index into positive territory, dealers said.
Volume was 3.19 billion shares worth 4.58 trillion rupiah (487.49 million dollars).
WELLINGTON: New Zealand share prices fell 0.41 per cent following a negative lead from a weakening Wall Street, dealers said.
The benchmark NZX-50 index fell 16.79 points to close at 4,054.22 on turnover worth 115.3 million dollars (87.0 million US).
“It always had the hallmarks of being negative, and it was,” said Stephen Wright of ASB Securities.
But Telecom was flat at 4.20 dollars and Fletcher Building rose 10 cents to 11.80.
New Zealand Oil & Gas rose 11 cents to a three-month high of 1.12 dollars.
MUMBAI: Indian share prices fell 0.41 per cent in volatile trade, slipping for a sixth straight day after US markets fell, dealers said.
The benchmark 30-share Sensex index fell 76.3 points to 18,562.32.
The overseas funds sell-off this month has impacted sentiment. We expect a further correction until global sentiment improves, said Manoj Kakaiya, a dealer at ULJK Securities.—AFP
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