Asian shares mostly lower, slow reforms hit Tokyo

Associated Press, Hong Kong

Most Asian stock markets closed lower Monday, with the key indexes falling both in Tokyo and Hong Kong.

Japan's benchmark 225-issue Nikkei Stock Average fell 182.85 points, or 1.69 percent, at 10,612.31. On Friday, the Nikkei lost 84.94 points, or 0.78 percent.

The Nikkei slipped because of investor worries about the slow pace of structural reforms and what they say are insufficient steps by the government to help banks write off a massive amount of bad loans.

Declines on Wall Street also contributed to Monday's slide, traders said.

In New York, the Nasdaq composite index lost 6.51 to 1,768.96. The Dow Jones industrial average rose 82.27, or 0.9 percent, to 9,545.17.

In Jakarta, Indonesian share prices closed lower. The JSX Composite Index fell 0.9 percent, or 3.494 points, to 384.328.

In Hong Kong, the blue-chip Hang Seng Index fell 226.65 points, or 2.18 percent, finishing at 10,178.09. On Friday, the index had gained 161.28 points, or 1.57 percent.

In Singapore, share prices closed lower amid pessimism over the future performance of national carrier Singapore Airlines. The Straits Times Index fell 17.51 points, or 1.2 percent, to 1,393.74.

In Taipei, Taiwan share prices closed higher for the fourth straight session. The Weighted Price Index rose 21.53 points, or 0.5 percent, to 4,065.10.

In Manila, Philippine shares closed lower on profit taking and concern over Sunday's bomb blast that killed at least six people in a southern Philippine city.

The 30-company Philippine Stock Exchange Index fell 7.68 points, or 0.8 percent, to 994.84.

In Seoul, the key index closed higher, boosted by the rise in SK Telecom and Korea Telecom stocks. The Korea Composite Stock Price Index, or Kospi, rose 0.8 percent, or 4.46 points, to 547.87.

In Kuala Lumpur, Malaysian share prices closed lower, dragged down by falling blue chips. The benchmark Composite Index, which tracks 100 blue-chip stocks, fell 6.61 points, or 1.1 percent, to 605.80.

In Bangkok, Thai stocks closed lower. The Stock Exchange of Thailand Index fell 2.44 points lower, or 0.9 percent, to 278.16.