Major Asian stock markets end week lower<\/p>\n
HONG KONG (AP): Most Asian stocks markets ended the week lower
\nFriday, dragged down by steep declines overnight on Wall Street.<\/p>\n
South Korea shares closed sharply lower, with the key index
\nslumping more than 4 percent as the tumble on Wall Street caused
\nforeign and local institutional investors to sell heavily,
\nanalysts said.<\/p>\n
They said that the ruling party's failure to secure a majority
\nin Thursday's parliamentary election had little impact on the
\nmarket's decline.<\/p>\n
The Korea Composite Stock Price Index fell 36.12 points, or
\n4.3 percent, to 800.89.<\/p>\n
In New York, the Dow Jones Industrial Average slid 201.58
\npoints, or 1.8 percent, to close Thursday at 10,923.55, while the
\ntech-laden Nasdaq Composite Index ended down 92.85 points, or 2.5
\npercent, at 3,676.78.<\/p>\n
Share prices in Taiwan also tumbled as weaker U.S. stock
\nmarkets continued to drive local investors away.<\/p>\n
The Taipei market's Weighted Stock Price Index fell 287.99
\npoints, or 3.00 percent, to 9,374.61.<\/p>\n
In Hong Kong, the blue-chip Hang Seng Index fell 209.80
\npoints, or 1.3 percent, closing at 16,142.76. On Thursday, the
\nindex lost 224.53 points, or 1.4 percent.<\/p>\n
The Japanese benchmark 225-issue Nikkei Stock Average shed
\n91.74 points, or 0.45 percent, to close at 20,434.68. On
\nThursday, the Nikkei fell 306.79 points, or 1.47 percent.<\/p>\n
Short-term investors dumped stocks as they anticipated further
\ndrops on Wall Street. The fall in the Nikkei index, which was
\ndown 165 points early in the session, was slightly offset by
\nbuying by institutional investors.<\/p>\n
In currency trading, the U.S. dollar was quoted at 105.86 yen,
\nup 0.10 yen from late Thursday in Tokyo and also above its late
\nNew York level of 105.83 yen overnight.<\/p>\n
The market was closed in Thailand for a holiday.<\/p>\n
In Singapore, share prices closed moderately higher on
\nselective buying of blue-chip stocks by institutional investors.
\nThe benchmark Straits Times Index rose 25.86 points, or 1.2
\npercent, to 2,189.76.<\/p>\n
In Kuala Lumpur, share prices closed lower on profit-taking in
\ntechnology stocks. The Composite Index of 100 blue-chip stocks
\nfell 2.64 points, or 0.3 percent, to 931.21.<\/p>\n
In Jakarta, share prices closed lower on selling in blue
\nchips. The Composite Index fell 1.5 percent, or 8.319 points, to
\n556.788.<\/p>\n
In Manila, the Philippine Stock Exchange's main index closed
\nlower, pushed down by profit-taking. The 30-company Philippine
\nStock Exchange Index fell 13.44 points, or 0.8 percent, to
\n1,712.54.<\/p>\n
In Sydney, Australian shares closed generally higher, driven
\nlargely by blue-chip industrial stocks, which are back in favor,
\nbrokers said. The All Ordinaries Index rose 11.3 points, or 0.4
\npercent, to 3,096.0.<\/p>\n
In Wellington, New Zealand share prices closed lower for a
\nfourth consecutive session. The benchmark NZSE-40 Capital Index
\nfell 13.32 points, or 0.6 percent, to 2,070.96.<\/p>",
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