Asian stock markets were mixed yesterday Tuesday Dec 16 as analysts predicted the US Federal Reserve would cut interest rates to almost zero in a new move to tackle the world economic downturn.
“Short-term investors maintained a cautious stance ahead of the FOMC’s decision on interest rates late Tuesday,” one Malaysian dealer told Dow Jones Newswires. “Investors will continue to look for direction from US stocks.”
TOKYO: Shares eased after Wall Street retreated overnight. The Nikkei dropped 96.64 points, or 1.12%, to 8,568.02.
HONG KONG: Share prices closed 0.6% higher yesterday. The benchmark Hang Seng Index was 83.26 points up at 15,130.21.
SINGAPORE: Shares closed 0.41% higher yesterday in a market lacking direction, dealers said. The blue-chip Straits Times Index rose 7.33 points to 1,782.09 .
SYDNEY: Share prices closed down 1.0% with the energy and materials sectors hit hardest.
The benchmark S&P/ASX200 lost 35.2 points to 3,556.2, while the broader All Ordinaries dropped 36.8 points to 3,498.9.
SHANGHAI: Shares closed up 0.54%, reversing early losses as carmakers and property developers advanced on hopes of further government support measures. The benchmark Shanghai Composite Index rose 10.63 points to 1,975.01.
TAIPEI: Share prices closed flat as investors awaited a move on the US bailout plan for carmakers and a decision on interest rates by the Federal Reserve. The weighted index edged up 3.17 points, or 0.07%, at 4,616.89.
SEOUL: Shares closed 0.3% higher on expectations of a bailout for US car makers and hopes that a government stimulus plan will pick up the local economy. The Kospi ended up 3.37 points at 1,161.56.
BANGKOK: Shares closed 1.89% higher on rising hopes for a period of political calm at home . The composite index rose 8.25 points to 445.31 while the blue-chip SET-50 index gained 6.50 points to 315.26.
JAKARTA: Shares dropped 1.2% due to profit-taking after recent rises and weak sentiment in neighbouring markets. The composite index slipped 16.44 points to 1,342.84 in thin volume.
MANILA: Share prices closed 1.2% lower as investors sold off index heavyweight Philippine Long Distance Telephone.
The composite index fell 23.94 points to 1,889.32, while the all-share index fell 12.9% to 1,196.96 points.
MUMBAI: Shares rose 1.47%, on expectations that the US Federal Reserve would cut rates. The benchmark 30-share Sensex index rose 144.59 points to 9,976.78.
EUROPE: London’s FTSE 100 index was up 0.74% at 4,309.08 points, in Paris the CAC 40 was 2.07% higher at 3,251.66 points, while the Frankfurt Dax gained 1.61% to close at 4,729.91 points.