HONG KONG, Feb 18: Asian shares fell on Wednesday after taking their cue from a plunge on Wall Street where investors appeared to have doubts over the effectiveness of President Barack Obama’s economic stimulus package.

Tokyo sank 1.45 per cent as mounting worries about the worsening domestic economy and Europe’s deepening woes weighed on sentiment.

For the rest of this week, the Nikkei has more downside risk than upside, a Japanese brokerage trader told Dow Jones Newswires.

TOKYO: Down 1.45 per cent. The benchmark Nikkei-225 index dropped 111.07 points to 7,534.44, the lowest closing level since October 27.

Nomura Holdings slid 5.9 per cent to 427 yen, Daiwa Securities fell 3.6 per cent to 377 yen, Mitsubishi UFJ Financial declined 3.1pc to 437 yen, and Sumitomo Mitsui Financial Group dropped 4.6pc to 3,120 yen.

Shares of Japanese automakers managed to buck the downturn as some investors took a positive view of the US Big Three’s restructuring plans.

Toyota added 1.7 per cent to 3,060 yen and Honda firmed 1.1 per cent to 2,250 yen.

HONG KONG: Up 0.6 per cent. The benchmark Hang Seng Index added 70.60 points to 13,016.00.

Some property stocks fell on fears that rising unemployment is likely to deter people from buying homes.

Hang Lung Properties shed 3.1 per cent to 14.28 dollars, Henderson Land was down 1.2 per cent at $25.30 , and Wharf Holdings slid 0.4 per cent to $16.72 .

SYDNEY: Down 1.5 per cent. The benchmark S&P/ASX 200 slumped 51.1 points to 3,413.2.The four major banks were mixed, with ANZ Banking Group off 0.2 per cent to 12.40, National Australia Bank up 1.5 per cent to 18.14 and Commonwealth Bank adding 0.5 per cent to 29.16. Westpac shed 1.8 per cent to 16.48.

Among resources stocks BHP Billiton eased 4.5 per cent to 30.31, Rio Tinto was off one per cent at 50.55, and energy company Santos dropped 2.9 per cent to 14.23.

SINGAPORE: Up 0.80 per cent. The blue-chip Straits Times Index climbed 13.14 points to 1,651.06 in quiet trade.

Banking shares were mixed. DBS gained seven cents to 8.10 dollars while United Overseas Bank dropped 12 cents to 10.80.

KUALA LUMPUR: Down 0.4 per cent. The Kuala Lumpur Composite Index shed 3.30 points to 895.23.

Among decliners, IOI Corp fell 2.1 per cent to 3.72 ringgit, Gamuda shed 2.5 per cent to 1.94 and Sime Darby lost 0.9 per cent to 6.45.

Bumiputra-Commerce fell 0.8 per cent to 6.45 ringgit.

On the upside, Tenaga rose 1.6 per cent to 6.20 ringgit, TM International added 3.7 per cent to 3.36 and Landmarks gained 5.6 per cent to 85.5 sen.

JAKARTA: Up one per cent. The Jakarta Composite Index rose 12.57 points to 1,330.610, helped by bargain hunting in banks and some coal-related stocks.

Bank Rakyat Indonesia rose 2.8 per cent to 4,525 rupiah, Bank Danamon surged 11 per cent to 2,500, while coal miner Bumi Resources gained 7.3 per cent to 740.

MUMBAI: Down 0.22 per cent. The benchmark 30-share Sensex index dropped 19.82 points to 9,015.18, its third straight day of losses.

WELLINGTON: Down 1.9 per cent. The benchmark NZX-50 index fell 51.61 points to 2,621.00, its lowest level in three months.

Top stock Telecom fell two cents to $2.48 .

Tourism Holdings, which posted a worse-than-expected half-year results dropped nine cents to 56 cents, while carrier Air New Zealand fell three cents to 88 cents after reporting a fall in passenger numbers.—AFP