Asian shares mostly down
HONG KONG, Feb 22: Asian shares closed mostly down on Friday after disappointing economic news rattled investors by fanning fears that the US economy is tipping into recession.
Mainland China posted the day’s biggest fall, sliding nearly 3.5 per cent.
Investors there were concerned both about the US and expectations of surging share supply, including from planned new listings.
Japan, Asia’s biggest stock market, fell more than one per cent. Most of the region’s other major markets also closed in the red, although Taiwan managed a small gain. Among smaller bourses, the Philippines tumbled three per cent.
TOKYO: Japanese share prices closed down 1.37 per cent after weak manufacturing data made investors jittery, adding to fears of a US recession, dealers said.
The Tokyo Stock Exchange’s benchmark Nikkei-225 index fell 187.82 points to end at 13,500.46. The broader Topix index of all first-section shares dropped 13.35 points or 1.00 per cent to 1,321.37.
Decliners outpaced gainers 1,070 to 542, with 110 issues unchanged. Volume dropped to 2.09 billion shares from 2.17 billion shares on Thursday.
HONG KONG: Hong Kong share prices closed down 1.35 per cent, dealers said.
The Hang Seng index closed down 317.96 points at 23,305.04. Turnover was 73.89 billion Hong Kong dollars (9.5 billion US).
For the week, the index was down 843 points or 3.5 per cent.
China Mobile lost 1.10 dollars to 116.10, China Life slipped 0.60 to 29.60 and Hutchison Whampoa up 0.05 at 74.15.
Hong Kong Exchanges and Clearing was down 6.30 dollars at 146.90. HSBC gained 0.40 dollars to 114.60.
SYDNEY: Australian share prices closed 0.4 per cent lower on concerns about the banking sector, dealers said.
The benchmark S&P/ASX 200 closed down 23.5 points at 5,559.9, while the broader All Ordinaries ended 18.5 points or 0.3 per cent lower at 5,644.5.
Market volume was 1.7 billion shares worth 6.3 billion dollars (5.8 billion US).
KUALA LUMPUR: Malaysian share prices closed down 1.8 per cent, dealers said.
The Kuala Lumpur Composite Index closed down 25.28 points to 1,369.48.
Disappointing results from top bank Maybank and MISC, the shipping arm of state oil company Petronas, hit sentiment, dealers said.
JAKARTA: Indonesian share prices closed 0.3 per cent higher, dealers said.
The Jakarta Composite index closed up 6.97 points at 2,741.18.
Medco Energi rose 75 rupiah to 4,250. Perusahaan Gas Negara rose 800 to 14,350. Coal miner Bumi Resources gained 150 rupiah to 7,950.
WELLINGTON: New Zealand shares closed down 0.5 per cent, dealers said.
The benchmark NZX-50 index fell 17 points to 3,569.
Contact Energy was up 10 cents to 7.65 dollars. Freight company Mainfreight rose 12 cents to 6.05. Sky Network Television closed up six cents at 5.00 dollars. Telecom fell six cents to 4.01.
MUMBAI: Indian share prices fell 2.17 per cent, dealers said.
The 30-share Mumbai Sensex index fell 385.71 points to 17,349.07.—AFP