Asian bourses shaken by S. Korean crisis<\/p>\n
HONG KONG (AFP): Stock markets across Asia plummeted yesterday
\nas already shaky investors cashed out on South Korea's deepening
\nfinancial turmoil and fresh weakness in regional currencies.<\/p>\n
Analysts warned that the Korean crisis could set off a new
\nwave of sharp declines on regional markets.<\/p>\n
Stocks in Hong Kong fell 5.5 percent, Tokyo 2.6 percent,
\nSingapore 2.3 percent, Sydney 1.5 percent, Kuala Lumpur 7.4
\npercent, Bangkok 4.9 percent, Jakarta 4.8 percent, Manila 4.9
\npercent, Seoul 5.6 percent, Shanghai 3.0 percent and Taipei 2.7
\npercent.<\/p>\n
Hong Kong shares closed off their lows, with the key Hang Seng
\nindex tumbling 602.19 points to 10,420.22 on the South Korean
\ncrisis.<\/p>\n
In Tokyo, Japanese share prices ended 2.6 percent lower, as
\nselling pressure rose on the deepening crisis in Asian markets
\nsparked by the financial turmoil in South Korea, brokers said.<\/p>\n
The key Nikkei stock average of 225 select issues plunged
\n427.97 points to close at 16,050.15, off the day's low of
\n16,025.27 touched in the last minutes of trading. The high was
\n16,396.70 points at the open.<\/p>\n
In Singapore, the benchmark index plunged 2.3 percent as
\nregional panic triggered by South Korea's deepening crisis drove
\nthe local dollar to its lowest level in four and a half years.<\/p>\n
The Straits Times Industrials index closed 39.24 points lower
\nat 1,664.28. The more broadly-based All-Singapore index was down
\n10.86 points at 431.79.<\/p>\n
In Sydney, Australian share prices fell 1.5 percent in
\nreaction to Wall Street's apprehension over the deepening Asian
\neconomic crisis.<\/p>\n
The Australian Stock Exchange's main indicator, the All
\nOrdinaries index, fell 37.9 points to 2,516.8, after US blue-
\nchips posted a 0.9-percent decline overnight as investors fretted
\nover the Asian crisis.<\/p>\n
In Kuala Lumpur, Malaysia's key stock index slumped 7.4
\npercent amid fears that some local banks may go bust and
\naggravated by news of short-selling charges against two
\nbrokerages.<\/p>\n
The Kuala Lumpur Stock Exchange's 100-share weighted composite
\nindex tumbled 47.18 points to end at 589.18. The second board
\nindex lost 2.3 percent or 5.46 points to 229.07.<\/p>\n
In Bangkok, Thai stocks plunged, ending the turbulent day 4.9
\npercent down as the country's currency collapsed amid a currency
\nstorm wreaking havoc across the region, dealers said.<\/p>\n
The Stock Exchange of Thailand composite index fell 19.16
\npoints to close at 371.51 after crashing through a string of
\nnine-year lows as the baht lurched downward in line with regional
\ncurrencies.<\/p>\n
In Manila, Philippine share prices plunged 4.9 percent on
\nprofit-taking and in line with the weakness in Asian bourses due
\nto deepening currency turmoil, analysts said.<\/p>\n
The Philippine Stock Exchange index shed 97.21 points to
\n1,875.63.<\/p>\n
In Seoul, share prices closed 5.6 percent down on the Korea
\nStock Exchange on worries that foreign investors will remain
\nsidelined due to the persistent fall of the won.<\/p>\n
The composite index closed down 22.48 points at 377.37, off a
\nlow of 376. 19.<\/p>\n
In Shanghai, the B shares, nominally reserved for foreign
\ninvestors, fell 3.0 percent in line with sharp declines in New
\nYork, Hong Kong and other regional bourses, dealers said.<\/p>\n
The Shanghai Stock Exchange's B share index shed 1.82 points
\nto end at 58. 09 while the A share index of locally traded stocks
\ngained 2.32 points, or 0. 2 percent, to close at the day's high
\nof 1,219.77.<\/p>\n
In Taipei, Taiwan share prices closed 2.7 percent lower, led
\nby technology shares, as investor sentiment was battered by an
\novernight dip on Wall Street and the deepening crisis in South
\nKorea.<\/p>\n
The Taiwan Stock Exchange weighted price index fell 232.97
\npoints to 8,270. 58.<\/p>\n
In Auckland, New Zealand stocks closed down 1.3 percent as
\nbuying dried up following overnight weakness on Wall Street.<\/p>\n
The key NZSE-40 index fell 30.05 points to 2,366.07.<\/p>\n
In London, the FT-SE 100 index of leading shares fell by 69.7
\npoints, or 1.3 percent, in early trading to 5,061 points.<\/p>\n
In Paris, the CAC 40 index fell by 65.66 points, or 2.24
\npercent, at the start of trade to 2,866.52 points. The French
\nmarket had closed 0.92 percent lower on Wednesday.<\/p>\n
In Frankfurt, the DAX 30 index opened 58.51 points, or 1.4
\npercent, lower at 4,058.76 points.<\/p>",
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