HONG KONG, March 27: Asian stocks closed mixed on Thursday after another batch of disappointing economic figures in the US shoved Wall Street into negative territory and sent regional players into the wings.

However, the extent of the sell-off and a turnaround in early European business led to late bargain hunting which eased some of the pressure and allowed a few markets to end the day slightly higher.

TOKYO: Japanese share prices lost ground for a second straight day as investors fretted about a stronger yen and fresh signs of weakness in the US economy.

The Nikkei-225 index dropped 102.05 points to 12,604.58. Volume rose to 1.673 billion shares from 1.575 billion on Wednesday.

HONG KONG: Hong Kong share prices closed slightly higher, up 0.21pc, as tycoon Li Ka-shing’s flagship companies were boosted by strong annual results.

The Hang Seng index closed up 47.21 points at 22,664.22. Turnover was 79.95 billion Hong Kong dollars.

SYDNEY: Australian share prices closed down 0.2pc on weaker financial stocks, although gains in miners BHP Billiton and Rio Tinto limited the market’s losses.

The S&P/ASX 200 closed down 9.8 points at 5,371.6. A total of 1.54 billion shares worth 5.35 billion dollars was traded.

SHANGHAI: Chinese share prices plunged 5.42pc, the sharpest decline in two months, as investors sold off shares massively in the financial and oil sectors.

The Shanghai Composite Index, which covers A and B shares, closed down 195.36 points at 3,411.49 on turnover of 76.9 billion yuan.

TAIPEI: Taiwan share prices closed sharply lower as selling pressure intensified in technology firms amid worries the Taiwan dollar’s appreciation will hurt export earnings.

The weighted index closed down 162.07 points at 8,605.95 on turnover of 160.83 billion Taiwan dollars.

SEOUL: South Korean share prices closed slightly lower as investors locked in profits from recent gains, with sentiment undercut by Wall Street’s decline.

The KOSPI closed down 3.43 points at 1,676.24. Volume reached 252 million shares worth 4.3 trillion won.

SINGAPORE: Singapore share prices closed 1.0pc higher as investors pounced on bargains in late afternoon trade following sharp falls earlier in the day.

The Straits Times Index rose 29.98 points to finish at 3,025.20 on volume of 1.49 billion shares worth 1.63 billion Singapore dollars.

KUALA LUMPUR: Malaysian share prices closed 0.7pc higher as bargain hunting on selected blue chips lifted the market.

The composite index closed up 8.61 points at 1,254.03 on volume of 802 million shares valued at 1.5 billion ringgit.

BANGKOK: Thai share prices closed 0.66pc higher as investors chased gains in blue chips, in banking and energy stocks.

But dealers said market sentiment remained clouded by fears over a recession in the United States.

The composite index rose 5.39 points to 822.96 on turnover of 3.10 billion shares worth 16.40 billion baht.

JAKARTA: Indonesian share prices closed 0.4pc higher as late buying of blue chips and oil-related stocks triggered a rebound in the main index.

The composite index closed up 10.71 points at 2,405.15. Volume was 3.57 billion shares worth 4.06 trillion rupiah.

Setiawan said investors started accumulating stocks after they realized that foreign selling pressure has subsided.

MANILA: Philippine share prices closed 0.3pc higher as investors picked up bargains among the blue-chips but sentiment was cautious after falls on Wall Street.

Dealers said the disappointing US durable goods and home sales figures impacted on New York, resulting in thinner volumes on the domestic market.

The composite index closed up 7.54 points at 2,925.91. Volume fell to 3.2 billion shares worth 2.3 billion pesos.

WELLINGTON: New Zealand share prices closed down 0.61pc, led by blue chips as major regional markets again retreated.

The NZX-50 gross index fell 20.90 points to 3,404.55 on turnover worth 123.8 million dollars (99.7 million US).

“It’s reflective that the overseas markets were weak overnight, so we’re currently bouncing a little bit to the overseas tune,” said Macquarie Equities investment director Arthur Lim.

MUMBAI: Indian share prices fell 0.44pc in line with Asian markets which mostly dropped on continued turmoil in the US housing market.

Dealers said India’s leading vehicle maker Tata Motors fell 3.56pc, a day after it said it was buying British luxury icons Jaguar and Land Rover from ailing US carmaker Ford for 2.3 billion dollars.

The 30-share Sensex fell 71.27 points to 16,015.56.

Analysts raised concerns of finance for the Jaguar-Land Rover acquisition, which pushed Tata Motors shares down 24.2 rupees to 655.2.—AFP