HONG KONG, June 17: Asian stocks closed mixed on Tuesday with even more gloom enveloping the Chinese stock market after it tumbled to its lowest level in over 15 months.

The bourse in Shanghai slid nearly three per cent to its lowest close since late February 2007, extending a deep correction that began last year.

Investors are concerned about high inflation in China and by moves to restrain bank lending in a bid to tame the rise in prices.

But Indian shares fared better, jumping nearly two per cent on hopes that upcoming corporate earnings will be healthy enough to draw foreign investors.

TOKYO: Japanese share prices closed steady as investors turned cautious ahead of US economic data and earnings results from Wall Street banks, dealers said.

The benchmark Nikkei-225 index slipped 6.00 points or 0.04 per cent to end at 14,348.37, a day after soaring 2.7 per cent. The broader Topix index of all first-section shares inched up 0.29 points to 1,401.98.

Depending on the US banking results, the Nikkei is expected to trade between 13,700-14,600 points, he said.

JFE Holdings fell 1.0 per cent to 5,760 yen while Kobe Steel dropped 2.7 per cent to 327 yen. Elpida Memory lost 2.7 per cent to 3,900 yen and Advantest gave up 2.1 per cent to 2,550 yen.

HONG KONG: Hong Kong share prices closed up 0.12 per cent, dealers said.

The Hang Seng Index closed up 28.3 points at 23,057.99. Turnover was 48.27 billion Hong Kong dollars (6.19 billion US).

The turnover remains low as we are now in the soft season with a lot of investors selling in May and going away for summer vacation, Ben Kwong, associate director of KGI Asia, told Dow Jones Newswires.

China Unicom gained 3.2 per cent to 15.28 dollars after CLSA upgraded the stock to “outperform” from “sell,” saying the recent correction has made it attractive.

China Netcom ended 3.4 per cent higher $22.80 and China Mobile rose 0.1 per cent to $107.60.

SYDNEY: Australian shares closed up 1.0 per cent, dealers said.

The benchmark S&P/ASX 200 index rose 51 points to 5,422.7 while the broader All Ordinaries was up 49.6 points at 5525.9. Volume was $6.7 billion (6.3 billion US).

Miner BHP Billiton closed up 1.32 dollars at 44.93 while takeover target Rio Tinto rose 86 cents to 137.06.

Woodside petroleum gained 93 cents to 62.20, Santos was up 30 cents at 21.48 but Oil Search dropped four cents to 6.06.

SINGAPORE: Singapore share prices closed 0.29 per cent lower, dealers said.

The blue chip Straits Times Index eased 8.68 points to 3,028.24 on volume of 1.27 billion shares worth 1.28 billion Singapore dollars (944 million US).

KUALA LUMPUR: Malaysian share prices closed 0.8 per cent lower, dealers said.

The Kuala Lumpur Composite Index dropped 10.30 points to 1,227.76.

Retail investors took the opportunity to sell into strength, reversing earlier gains, a dealer told Dow Jones Newswires.

JAKARTA: Indonesian shares closed 0.8 per cent lower, dealers said.

The Jakarta Composite Index dropped 20.07 points to 2,377.97.

Indofood fell 5.6 per cent to 2,400 rupiah. Astra dropped 0.8 per cent to 19,900 and Bank Rakyat shed 1.0 per cent to 5,100.

WELLINGTON: New Zealand share prices closed little changed, dealers said.

The NZX-50 gross index was down 1.73 points to close at 3,404.57. Fletcher Building closed up five cents at $6.75.

Telecom rose five cents to 3.84 dollars, Contact Energy gained six cents to 8.38, and casino operator Sky City was up two cents at 3.34.

MUMBAI: Indian shares closed 1.96 per cent higher, dealers said. The benchmark Mumbai 30-share Sensex index rose 301.08 points to 15,696.9.

Reliance Communications fell 4.9 rupees or 0.92 pc to 530.2.

It slipped for the second straight day on concerns that a family feud could impact a blockbuster telecoms deal being discussed with South Africa’s MTN.—AFP