Tokyo Nikkei 225 down 0.72%, S&P ASX 200 up 0.39% (Il Sole 24 Ore Radiocor) - Tokyo, 06 Sep - Asian shares closed mostly lower, extending the week's selloff as they tracked losses on Wall Street overnight on growing concerns over the outlook for the US economy.

Investors braced for the closely watched US jobs report due later today, amid growing expectations that the Federal Reserve may opt for significant rate cuts following some soft jobs and manufacturing data. Japan's Nikkei fell to a more than three-week low, extending the week's selloff, as the country's household spending for July missed expectations, rising 0.1% in real terms from the previous year, compared to a 1.2% rise expected from economists polled by Reuters.

The weak data could limit the Bank of Japan's options to raise rates.

Trading on the Hong Kong stock market was cancelled today due to a typhoon alert. "All trading sessions today (Friday) in the securities and derivatives markets, including after-hours trading session, have been canceled," Hong Kong Exchanges & Clearing said at noon, after canceling the morning session.

The Nikkei index closed down 0.72% at 36,391 points. In Sydney the S&P ASX 200 closed up 0.39% at 8,013 points, while in Seoul the KOSPI closed down 1.21% at 2,544 points.

The Shanghai Composite index was down 0.71% at 2,768 points.

In Mumbai the Sensex index slid 1.01% to 81,369 points.

Most Asian markets posted a monthly loss in August after a sharp drop at the beginning of the month.

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(RADIOCOR) 06-09-24 08:59:26 (0170) 5 NNNN