Asian stocks fall again
Asian stocks closed mostly down on Wednesday over concerns about the US economy and after China's premier pledged to curb his nation's high economic growth as consumer prices surge.
Mainland Chinese stocks fell nearly one percent as Premier Wen Jiabao said Wednesday inflation was now the top concern for China's 1.3 billion people.
Elsewhere, the falls among the region's other major stock markets were more limited. Japan, Asia's biggest market, edged down 0.16 percent.
Malaysia was the biggest faller among smaller bourses, tumbling more than 2.5 percent ahead of general elections on Saturday.
The problems in the US, a key buyer of Asian goods and services, have cast a pall over Asian markets.
TOKYO: Japanese share prices closed down 0.16 percent to a six-week low after a volatile session on Wall Street and weak data on the domestic economy, dealers said.
They said investors remained cautious ahead of the release of key US economic data this week.
HONG KONG: Hong Kong share prices closed little changed, dealers said.
The Hang Seng index closed down 5.53 points at 23,114.34. Turnover was 79.77 billion Hong Kong dollars (10.25 billion US).
SHANGHAI: Chinese share prices closed 0.99 percent lower on concerns the central bank may take more steps to curb inflation after the opening of parliament, dealers said.
Investors were unsettled by Premier Wen Jiabao's comments that China has set a 4.8 percent 2008 target for consumer price rises, well above the 3.0 percent target set for 2007, they said.
SEOUL: South Korean shares closed little changed, dealers said.
The key KOSPI index finished up 0.92 points or 0.05 percent at 1,677.10. Volume was 259 million shares worth 4.0 trillion won (4.22 billion dollars).
Chinese Premier Wen Jiabao's comments that China is facing considerable inflationary pressure affected the mood.
SINGAPORE: Singapore share prices closed down 0.31 percent, dealers said.
The main Straits Times index fell 8.91 points to 2,910.77 on volume of 1.36 billion shares worth 1.60 billion Singapore dollars (1.15 billion US).
Oversea-Chinese Banking Corp. fell two cents to 7.47 dollars. CapitaLand slipped seven cents to 5.99 dollars. Singapore Airlines gained 30 cents to 15.30 dollars.
KUALA LUMPUR: Malaysian share prices closed 2.6 percent lower, dealers said.
The Kuala Lumpur Composite index closed down 33.79 points at 1,280.23.
"The US is still an issue and people are also worried about the outcome of Malaysia's general elections," said Kaladher Govindan, head of research of TA Securities.
MUMBAI: Indian share prices closed up 1.24 percent, dealers said.
The benchmark 30-share Mumbai stock exchange Sensex index rose 202.19 points to 16,542.08.
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