HONG KONG, Jan 12: Asian markets were mostly lower on Monday following miserable jobs figures from the United States and continuing fears over the global corporate outlook.

Hong Kong lost almost three per cent, while Sydney shed 1.4 per cent, Seoul more than two per cent and Singapore 1.65 per cent as investors followed a fall on Wall Street Friday.

Mumbai dived more than three per cent.

The US economy shed 524,000 jobs in December, in line with market expectations, driving the unemployment rate to a 16-year high of 7.2 per cent.

Hong Kong and Shanghai were also hit by fears that banks will suffer further divestments by overseas firms following a series of pull-outs last week in some of the mainland’s biggest, including China Construction Bank and Bank of China.

Tokyo was closed for a public holiday.

HONG KONG: Down 2.8 per cent, or 406.44 points, at 13,971.00

Turnover was light at 46.26 billion Hong Kong dollars (5.93 billion US)

The closing marked the index’s fifth consecutive decline, and was its lowest close since December 5, when it ended at 13,846.

Oil stocks tumbled, after crude oil futures fell more than 2 per cent to below US$40 a barrel.

CNOOC was off 4.7 per cent at 7.10 dollars and PetroChina dipped 4.84 per cent to$ 6.68 .

SYDNEY: Down 1.4 per cent, or 52.4 points, to 3,683.3.

The broader All Ordinaries shed 56.4 points to 3,624.0.

Preliminary national turnover was some 981 million shares worth about 1.9 billion dollars (1.3 billion US).

National Australia Bank dropped 1.7 per cent to 20.64, Commonwealth Bank fell 1.7 per cent to 28.32 and ANZ lost 0.8 per cent to 15.08.

SINGAPORE: Down 1.65 per cent, or 29.77 points, to 1,776.25 on volume of 902 million shares worth 978 million Singapore dollars (657 million US).

DBS shed 31 cents to 8.11, United Overseas Bank dropping 24 cents to 12.56 and Oversea-Chinese Banking Corp eight cents lower at 5.15. City Developments was down 14 cents to 6.06 and Keppel Land closed five cents lower at 1.79.

KUALA LUMPUR: Up 0.5 per cent. The Kuala Lumpur Composite Index gained 4.5 points to close at 923.57.

Telekom Malaysia rose 4.6 per cent to 3.16 ringgit and Maybank was 1.8 stronger at 5.70 ringgit. Tenaga lost 1.5 per cent to 6.50 ringgit.

MUMBAI: Down 3.15 per cent. The benchmark 30 share Sensex index fell 296.42 points to 9,110.05, its third consecutive day of losses.

India’s corporate earnings season commences with outsourcing giant Infosys Technologies on Tuesday.

WELLINGTON: Up 0.39 per cent, or 10.86 points, at 2,768.27.

Market leader Telecom rose six cents to $2.47 s.

The company announced the closure of its online shopping venture Ferrit but the business was seen as too small to influence the share price.—AFP