TOKYO
Japan's Nikkei stock index closed down 3.03 per cent on Thursday, hit by disappointment over Washington's bank rescue plan and a stronger yen, dealers said.

The benchmark dropped 240.58 points to 7,705.36.

HONG KONG
Hong Kong share prices closed 2.3 per cent lower on Thursday, as weakness on markets in Tokyo and Shanghai hit investor sentiment, dealers said.

The benchmark Hang Seng Index ended 310.91 points down at 13,228.3.

Turnover was HK$39.64 billion (S$7.7 billion).

SHANGHAI
Chinese shares closed 0.56 per cent lower on Thursday as losses in coal and metals companies cancelled out the boost shipbuilding stocks received from government stimulus measures, dealers said.

The benchmark Shanghai Composite Index, which covers A and B shares, shed 12.73 points to 2,248.09 on turnover of 142.1 billion yuan (S$31.44 billion).

The Shanghai A-share index fell 13.40 points, or 0.56 per cent, to 2,360.00 on turnover of 141.7 billion yuan, but the Shenzhen A-share index rose 7.23 points, or 0.96 per cent, to 761.45 on turnover of 75.4 billion yuan.

Coal companies led the decline. Hebei Jinniu Energy Resources shed 5.4 per cent to 20.76 yuan. Anhui Hengyuan Coal Industry and Electricity Power fell 5.1 per cent to 16.93 yuan.

Both stocks rose more than 15 per cent in the previous seven trading sessions before profit-taking set in.

Metal stocks were mostly weak with Jiangxi Copper down 3.7 per cent at 17.29 yuan.

But Chinalco jumped 5.6 per cent to close at 10.49 yuan as it unveiled plans to invest US$19.5 billion (S$29.5 billion) into troubled mining giant Rio Tinto.

Shipbuilders were the bright spot in the weak market after Xinhua news agency reported late on Wednesday that the State Council had passed a plan to boost the sector.

China State Shipbuilding hit the 10 percent daily limit to close at 58.48 yuan, while Guangzhou Shipyard International also ended limit-up at 20.89 yuan.

The Shanghai B-share index fell 0.23 points, or 0.16 per cent, to 143.45, while the Shenzhen B-share index shed 1.24 points, or 0.39 per cent, to 316.52.

KUALA LUMPUR
Share prices on Bursa Malaysia were slightly lower at close with investors reducing their holdings, particularly in large cap stocks like Sime Darby and Bumiputra-Commerce, dealers said.

However, gains in Tenaga Nasional following announcement of the cut in electricity tariffs and gas prices on Wednesday helped to offset some of the losses, they said.

At the closing bell, the Kuala Lumpur Composite Index (KLCI) declined 2.47 points to 894.60. The index had opened 2.59 points higher at 899.66 on Thursday morning.

The KLCI moved between 893.36 and 901.80 during the trading session on Thursday.

At closing, the Industrial Index decreased 3.21 points to 2,125.96, the Finance Index dropped 46.64 points to 7,038.18 and the Plantation Index went down 35.32 points to 4,546.45.

The FBMEmas was 15.36 points lower at 5,861.48, the FBM30 decreased 18.76 points to 5,777.47 and the FBMMesdaq lost 90.68 points to 3,314.55 while the FBM2BRD was unchanged at 3,968.38.

Losers led gainers by 243 to 214 while 209 counters closed unchanged, 612 untraded and 61 suspended.

Turnover rose to 339.813 million shares worth RM592.634 million from Wednesday's close of 313.431 million shares worth RM433.459 million -- AFP, BERNAMA