6 Jul 2009

Asia-Pacific markets begin week lower

9:00 pm on 6 July 2009

Markets in Asia and the Pacific were lower at the start of the trading week.

In New Zealand, the benchmark index was down 18 points, or 0.67%, to 2742 on weak turnover of $37 million on Monday.

Top stocks were lower. Telecom dipped 2 cents to $2.67, Fletcher Building was down 7c to $6.47 and Contact Energy fell 11c to $5.65.

Methven was down 5c to $1.30 after announcing that the Commerce Commission is taking it to court for allegedly breaking the Fair Trading Act by misleading customers in its advertising.

Auckland International Airport fell 5c to $1.51 after saying it will reduce landing fees for airlines by 5% due to the economic situation.

The Australian share market closed lower on Monday, dragged down by weakness in the mining and energy sector as investors waited for companies in the United States to start reporting their financial results.

At the 1615 AEST close, the benchmark S&P/ASX200 index had fallen 44.5 points, or 1.16%, to 3,783.7 points, while the broader All Ordinaries index dropped 42.4 points, or 1.11%, to 3,784.2 points.

Japanese share prices closed down 1.38% on Monday as investors took profits ahead of US corporate earnings results.

The benchmark Nikkei-225 index fell 135.20 points to 9,680.87. The broader Topix index of all first section shares slipped 8.20 points, or 0.89%, to 912.42.

US markets were closed Friday for a public holiday.