Asia Roundup: Lower as caution sets in

HONG KONG: Asian shares closed mostly down yesterday as bargain hunters retreated despite sharply lower oil prices and a Wall Street surge, with high inflation and US economic woe looming large.

TOKYO: Share prices closed 0.65 per cent lower, losing early gains as caution set in ahead of the release of key banking earnings in the US.

The benchmark Nikkei-225 index lost 84.25 points to close at 12,803.70. The broader Topix index of all first-section shares fell 11.22 points to 1,252.43.

SHANGHAI: Share prices jumped 3.49 per cent as airlines and oil refiners surged due to easing oil prices. The benchmark Shanghai Composite Index closed 93.59 points higher at 2,778.37

SYDNEY: Stocks closed down 1.2 per cent, led by falls among resource stocks.

The benchmark S&P/ASX 200 index dropped 60.6 points to 4,840.4, while the broader All Ordinaries slipped 62.1 points to 4,915.3.

TAIPEI: Share prices closed down 2.28 per cent on worries over whether Wall Street's recent gains will be sustained amid rising inflation. The weighted index fell 159.19 points at 6,815.32.

SEOUL: Share prices surrendered early gains and closed one per cent lower. The Kospi ended off 15.57 points at 1,509.99 after rising to as high as 1,542.91.

BANGKOK: Share prices closed 0.81 per cent lower, dragged down by energy stocks after world oil prices tumbled this week.

The Stock Exchange of Thailand (SET) composite index fell 5.45 points to close at 664.52 points and the blue-chip SET-50 index lost 4.76 to 464.87.

JAKARTA: Share prices closed 1.2 per cent lower after a second day of selling in commodity-related stocks on concerns of a weak global economy. The Jakarta Composite index fell 26.57 points to 2,141.14.

MANILA: Shares closed 0.2 per cent lower as jitters after an interest rate hike offset gains due to a plunge in crude oil prices.

The composite index shed 4.10 points to 2,389.52. The all-share index gained 0.95 points to 1,516.83.

MUMBAI: Shares closed 3.99 per cent higher yesterday on easing oil prices and a lower-than-expected inflation figure of 11.91 per cent.

The benchmark Mumbai 30-share Sensex index rose 523.55 points to 13,635.4, its second straight day of gains. - AFP