ASIAN MARKETS - SHARES CLOSE BROADLY LOWER - FEB 1, 2001.

A round-up of Asian stock markets for Feb 1, 2001, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.

SYDNEY, Feb 1 Asia Pulse - Asian share markets closed broadly lower today, although not on heavy losses, as regional markets shrugged off the United States Federal Reserve decision to cut its interest rates by half a per cent.

A steep fall on the Nasdaq index overnight resulting from the announcement and a weaker dollar also had a minimal impact, dealers said.

Australian share prices showed minimal reaction to the US interest cut, opening weaker on flat trade, but rallying in the afternoon as sentiment improved.

The all ordinaries index closed 20.6 points higher, or 0.6 per cent at 3312.1, while the S&P/ASX200 ended up 22.6 points at 3364.3.

Hong Kong's Hang Seng index climbed 61.64 points, or 0.4 per cent to close at 16,163.99.

Dealers said investors were reacting to news of the interest rate but had largely absorbed it, and gains were balanced out by rotational profit-taking.