Asian markets end mostly lower
Asian markets end mostly lower
Agencies, Hong Kong/Jakarta
Tokyo and Hong Kong shares on Wednesday were pulled down by the decline on Wall Street, with most markets in the region following suit and finishing lower.
Japan's Nikkei Stock Average of 225 selected issues dropped 30.41 points, or 0.3 percent, to 11,005.42. The index lost 37.94 points, or 0.3 percent, on Tuesday.
Traders took cues from Wall Street's poor showing and a gloomy outlook from German chipmaker Infineon Technologies AG. In New York, the Dow Jones Industrial Average fell 91.34, or 0.9 percent, to 10,151.13 on Tuesday.
Among chipmakers, NEC Electronics Corp. fell 3.7 percent after reporting poor earnings late Tuesday. Elpida Memory Inc. shed 2.4 percent, and Tokyo Electron Ltd. slipped 2.2 percent.
Other semiconductor-related issues like Advantest Corp. and Tokyo Electron Ltd. edged down.
In the larger tech sector, TDK Corp. and Canon Inc. also closed down, but Sony Corp. and Kyocera Corp. gained.
In Hong Kong, the share market snapped a six session winning streak as traders cashed in recent gains after U.S. stocks slipped.
The blue-chip Hang Seng Index fell 19.94 points, or 0.1 percent, to 13,839.64. On Tuesday, the Hang Seng climbed 109.35 points, or 0.8 percent.
In Singapore, Singapore's shares were dragged down by the decline of U.S. markets. The Straits Times Index dipped 4.30 points, or 0.2 percent, to 2145.34.
In Seoul, South Korean shares were hurt by the drop in U.S. markets. The Korea Composite Stock Price Index, or Kospi, fell 14.30 points, or 1.5 percent, at 930.16.
In Jakarta, Indonesian shares ended flat on Wednesday, with rebounds in Bank Mandiri and nickel miner International Nickel Indonesia keeping the main index in positive territory, dealers said.
Overall sentiment, however, remained cautious following declines in most Asian markets due to Wall Street's overnight losses, they added.
"There was nothing much going on here," said a trader with a local securities firm.
He said many investors stayed on the sidelines due to an absence of fresh leads.
The Jakarta Stock Exchange Composite Index edged up 0.45 point to 1032.22.
Gainers led decliners 64 to 49, with 64 stocks unchanged.
Volume was 1.25 billion shares valued at Rp 1.4 trillion, compared with 1.6 billion shares valued at Rp 1.7 trillion on Tuesday.
Bank Mandiri, the nation's largest lender by assets, gained 3.5 percent to Rp 1,470 on a rebound after falling sharply earlier this week due to a corruption investigation into the bank's lending practices.
International Nickel Indonesia, or Inco, jumped 4.2 percent to Rp 13,700 on a rebound and as the company plans to invest $280 million to develop its business this year.
Among other gainers, Astra International rose 0.5 percent to Rp 10,700 on expectations of solid first-quarter earnings.
On the downside, bellwether Telekomunikasi Indonesia fell 1.1 percent to Rp 3,325 after its American Depositary Receipts fell 0.3 percent.
Dealers expect the market to trade higher on Thursday on further buying in bank blue chips.
In Bangkok meanwhile, Thai shares ended slightly up in a technical rebound. The Stock Exchange of Thailand Index finished 2.50 points, or 0.4 percent higher, at 664.63.