HONG KONG, June 23: Asian stocks closed mostly down on Monday as the rising oil price, heavy losses on Wall Street last week and uncertainty ahead of a US interest rate decision weighed on sentiment.

Despite a weekend crisis oil meeting in Saudi Arabia, which has hiked output, crude prices continued to rise.

Many investors also held back as they await the outcome of a two-day Federal Reserve meeting in the US on interest rates.

In Tokyo Wall Street’s woes as oil costs bit led the Nikkei down 0.61 per cent, while a government report further hit confidence as it showed business sentiment was at its lowest level for at least four years.

Hong Kong’s Hang Seng closed 0.13 per cent off as Aluminum Corporation of China (Chalco) slumped after warning net profit would probably be hit by hikes in fuel and raw materials.

Elsewhere Sydney stayed level, while Seoul fell 0.9 per cent and Singapore dropped 0.75 per cent, mostly hit by oil and Wall Street.

TOKYO: Japanese share prices closed down 0.61 per cent, hit by heavy losses on Wall Street and rising crude oil prices, dealers said.

They said confidence was further undermined by a government survey showing business sentiment among major Japanese companies at the lowest level in at least four years.

The benchmark Nikkei-225 index dropped 84.61 points to end at 13,857.47.

The broader Topix index of all first-section shares lost 8.81 points or 0.65 per cent to 1,347.93.

HONG KONG: Share prices closed little changed, dealers said.

The Hang Seng closed down 30.64 points, or 0.13 per cent, to 22,714.96 with turnover at 59.68 billion Hong Kong dollars (7.65 billion US).

Aluminum Corporation of China (Chalco) slumped 5.7 per cent after warning net profit would likely drop in the first half as price hikes in fuel and raw materials had pushed up production costs.

Hong Kong property companies also declined after CLSA cut its 2008 residential property price forecast to a 15 per cent increase from the previous 20 per cent forecast.

SYDNEY: The Australian stock market closed little changed, dealers said.

The benchmark SP/ASX 200 slipped 4.6 points to close at 5,283.7, while the broader All Ordinaries dropped 2.9 points to 5,408.9.

Turnover was 1.81 billion shares worth $5.6bn (US$5.4 bn).

National Australia Bank rose 3.1 per cent to $26.55.

The country’s largest supermarket chain Woolworths added 1.3 per cent to end at $24.49.

Miner BHP slipped 0.1 per cent to $44.60 and rival Rio Tinto shed 0.7 per cent to $137.58.

SINGAPORE: Share prices closed 0.75 per cent lower, dealers said.

The blue chip Straits Times Index fell 22.66 points to 2,979.15.

Volume totalled 1.06 billion shares worth 1.14 billion Singapore dollars (835 million US) while losing shares led gainers 337 to 177. Another 992 issues were steady.

KUALA LUMPUR: Malaysian share prices closed 0.9 per cent lower, dealers said.

The Kuala Lumpur Composite Index lost 11.26 points to 1,195.41.

The benchmark was likely to drift within the 1,188-1,200 range as investors kept to the sidelines ahead of a US rate decision later this week, they said.

Conglomerate Genting shed 0.93 per cent at 5.35 ringgit while Maybank gained 0.7 per cent at 7.15 ringgit.

JAKARTA: Indonesian shares ended 0.38 per cent lower, dealers said.

The Jakarta Composite Index fell 9.03 points to 2,362.74.

The rupiah ended at 9,275 to the dollar compared with 9,260 last Friday.

Coal miner Bumi ended higher 0.6 per cent at 8,500 rupiah, while Indosat dropped 1.6 per cent at 6,000 rupiah.

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

The NZX-50 gross index rose 4.13 points, or 0.13 per cent, to close at 3,287.56 after hitting a 2-1/2 year low on Friday.

Fletcher Building rose 17 cents to $6.58. Fisher & Paykel Healthcare rose eight cents to $2.22. Market leader Telecom gained four cents to $3.77.

MUMBAI: Indian shares closed down 1.91 per cent on fears of further monetary tightening from the central bank, with inflation at a 13-year high of 11.05 per cent, dealers said.

The benchmark Mumbai 30-share Sensex index fell 277.97 points or 1.91 per cent to 14,293.32, a new closing low for the Sensex this year.—AFP