Asian stocks mostly down
Afp, Hong Kong
Asian stocks closed mostly down Monday despite moves in the US to shore up the country's huge but troubled mortgage sector, with investors also jittery ahead of key economic data.Taiwan led the declines among major markets, falling more than one percent. Japan, Hong Kong, South Korea and Singapore also fell in the wake of a Wall Street slide on Friday.The weak Asian performance came after US Treasury Secretary Henry Paulson announced Sunday bigger credit lines for Fannie Mae and Freddie Mac, which offer vital support to the multi-trillion-dollar US mortgage market.The move initially cheered some Asian investors Monday, but the optimism soon waned. Dealers said there was nervousness ahead of upcoming results from heavyweight US banks and testimony from central bank chief Ben Bernanke.The Chinese stock market bucked the trend to close modestly up, but like most Asian bourses is heavily in the red for 2008. Beijing is due to publish major economic data this week, including economic growth and inflation numbers.India fell more than one percent, dragged lower by a 10 percent slide in leading generic drugs maker Ranbaxy. Reports said the US Department of Justice was investigating the firm for violations in product manufacture and branding.Elsewhere, Malaysia, Thailand and Indonesia ended lower, although the Philippines rose.TOKYO: Japanese share prices ended with modest losses.The Tokyo Stock Exchange's benchmark Nikkei-225 index lost 29.53 points or 0.23 percent to end at 13,010.16. The broader Topix index of all first-section shares slipped 5.19 points or 0.40 percent to 1,280.72.HONG KONG: Hong Kong share prices closed down 0.77 percent, dealers said. The Hang Seng Index ended the day down 170.09 points at 22,014.46. SHANGHAI: Chinese share prices closed up 0.76 percent, dealers said. The benchmark Shanghai Composite Index, which covers both A and B shares, closed up 21.62 points at 2,878.26.SEOUL: South Korean share prices closed 0.6 percent lower. The KOSPI index ended down 8.89 points at 1,558.62. SINGAPORE: Singapore share prices closed 0.78 percent weaker. The blue chip Straits Times Index finished 22.72 points lower at 2,904.12. KUALA LUMPUR: Malaysian share prices closed 0.6 percent lower. The Kuala Lumpur Composite Index lost 6.39 points to 1,144.0.BANGKOK: Thai shares closed 1.81 percent lower. The Stock Exchange of Thailand (SET) composite index lost 13.23 points to close at 717.06 points, while the blue-chip SET-50 fell 10.49 points to close at 508.65.MANILA: Philippine share prices closed 0.8 percent higher. The composite index added 19.28 points to 2,457.27. The all-share index rose 6.91 points to 1,551.65.MUMBAI: Indian shares closed 1.03 percent lower. The benchmark Mumbai 30-share Sensex index fell 139.34 points to 13,330.51, its third straight day of losses.
Afp, Hong Kong
Asian stocks closed mostly down Monday despite moves in the US to shore up the country's huge but troubled mortgage sector, with investors also jittery ahead of key economic data.Taiwan led the declines among major markets, falling more than one percent. Japan, Hong Kong, South Korea and Singapore also fell in the wake of a Wall Street slide on Friday.The weak Asian performance came after US Treasury Secretary Henry Paulson announced Sunday bigger credit lines for Fannie Mae and Freddie Mac, which offer vital support to the multi-trillion-dollar US mortgage market.The move initially cheered some Asian investors Monday, but the optimism soon waned. Dealers said there was nervousness ahead of upcoming results from heavyweight US banks and testimony from central bank chief Ben Bernanke.The Chinese stock market bucked the trend to close modestly up, but like most Asian bourses is heavily in the red for 2008. Beijing is due to publish major economic data this week, including economic growth and inflation numbers.India fell more than one percent, dragged lower by a 10 percent slide in leading generic drugs maker Ranbaxy. Reports said the US Department of Justice was investigating the firm for violations in product manufacture and branding.Elsewhere, Malaysia, Thailand and Indonesia ended lower, although the Philippines rose.TOKYO: Japanese share prices ended with modest losses.The Tokyo Stock Exchange's benchmark Nikkei-225 index lost 29.53 points or 0.23 percent to end at 13,010.16. The broader Topix index of all first-section shares slipped 5.19 points or 0.40 percent to 1,280.72.HONG KONG: Hong Kong share prices closed down 0.77 percent, dealers said. The Hang Seng Index ended the day down 170.09 points at 22,014.46. SHANGHAI: Chinese share prices closed up 0.76 percent, dealers said. The benchmark Shanghai Composite Index, which covers both A and B shares, closed up 21.62 points at 2,878.26.SEOUL: South Korean share prices closed 0.6 percent lower. The KOSPI index ended down 8.89 points at 1,558.62. SINGAPORE: Singapore share prices closed 0.78 percent weaker. The blue chip Straits Times Index finished 22.72 points lower at 2,904.12. KUALA LUMPUR: Malaysian share prices closed 0.6 percent lower. The Kuala Lumpur Composite Index lost 6.39 points to 1,144.0.BANGKOK: Thai shares closed 1.81 percent lower. The Stock Exchange of Thailand (SET) composite index lost 13.23 points to close at 717.06 points, while the blue-chip SET-50 fell 10.49 points to close at 508.65.MANILA: Philippine share prices closed 0.8 percent higher. The composite index added 19.28 points to 2,457.27. The all-share index rose 6.91 points to 1,551.65.MUMBAI: Indian shares closed 1.03 percent lower. The benchmark Mumbai 30-share Sensex index fell 139.34 points to 13,330.51, its third straight day of losses.
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