Tokyo slump drags Asian bourses down<\/p>\n
TOKYO (AFP): Japanese share prices led a regionwide fall
\nyesterday, with the key index suffering the largest decline this
\nyear after the release of a weak \"Tankan\" business confidence
\nsurvey.<\/p>\n
Singapore lost 2.0 percent on concerns about neighboring
\nMalaysia, with Kuala Lumpur down 2.3 percent.<\/p>\n
Hong Kong was dragged down 1.3 percent by Tokyo's tumble,
\nwhich eroded earlier gains in Sydney on Wall Street's continued
\nstrength. Australian stocks managed only a meager 0.1 percent
\nincrease.<\/p>\n
The Nikkei stock average of 225 selected issues ended down
\n538.76 points or 3.3 percent at 15,702.90, the steepest single-
\nday drop since the turn of the year, after tumbling to 15,634.47
\npoints at one stage.<\/p>\n
It was the lowest close since January 14 when the index
\nfinished at 15,121. 98. The intra-day high was 16,215.28 touched
\nat the open. An estimated 700 million shares changed hands on the
\nmajor board, up from the previous day's 566.2 million shares.<\/p>\n
\"Foreign investors remained sellers, with retail investors and
\ninstitutional investors sidelined, awaiting details of the
\ngovernment's stimulus package,\" a Meiko Securities Co. Ltd.
\nbroker said.<\/p>\n
Elsewhere in the Asia-Pacific region:<\/p>\n
In Hong Kong, share prices fell 1.3 percent in the absence of
\nfresh incentives and on sharp falls in Tokyo.<\/p>\n
The key Hang Seng index lost 141.71 points to close at
\n11,189.71 -- its second consecutive loss for the week.<\/p>\n
In Singapore, share prices closed 2.0 percent lower in thin
\ntrade, with investor sentiment dampened by concerns over
\nbankruptcy and rising non-performing loans in neighboring
\nMalaysia.<\/p>\n
The Straits Times Industrials index fell 31.52 points to end
\nat 1,568.60, while the All-Singapore index fell 2.98 points to
\n406.51.<\/p>\n
In Kuala Lumpur, Malaysia's key stock index ended 2.3 percent
\nlower, weighed down by fears of more corporate failures and
\nconcerns over the health of the banking sector.<\/p>\n
The Kuala Lumpur Stock Exchange's 100-share weighted composite
\nindex fell 15.78 points below the 700-psychological level to end
\nat 684.27, off the day's low of 681.45.<\/p>\n
In Seoul, share prices tumbled 3.1 percent on the Korea Stock
\nExchange, with sentiment weakened after the index fell below 460
\npoints, triggering \"panic-selling,\" securities dealer Choi Sung-
\nho said.<\/p>\n
The composite index closed down 14.56 points at 453.66, off a
\nlow of 450. 25.<\/p>\n
In Bangkok, share prices slipped 0.6 percent in quiet trade as
\ninvestors backed out of large capitalization stocks amid worries
\nover earnings and interest rates.<\/p>\n
The Stock Exchange of Thailand (SET) composite index fell 2.69
\npoints to close at 453.88, while the SET 50 selected index was
\ndown 0.27 points at 32. 81.<\/p>\n
In Manila, share prices closed 1.6 percent lower due to the
\ncontinuing weakness of the local currency, the approach of Easter
\nholidays and the need for funds for income tax payments.<\/p>\n
The Philippine Stock Exchange composite index fell 35.37
\npoints to 2,174 points.<\/p>\n
In Shanghai, B shares, nominally reserved for foreign
\ninvestors, fell 1.9 percent as institutions reduced their
\npositions to buy A shares.<\/p>\n
The Shanghai Stock Exchange's B share index lost 1.03 points
\nto close at 52.80 points while the A share index of locally-
\ntraded stocks ended up 15.57 points, or 1.2 percent, to 1,340.53
\npoints.<\/p>\n
In Taipei, stock prices dipped 0.3 percent on strong selling
\nof technology issues, following a US move to impose anti-dumping
\nduties on some computer chip makers, dealers said.<\/p>\n
The Taiwan Stock Exchange weighted price index dropped 28.40
\npoints to 9, 013.10, following a 0.5-percent decline Wednesday.<\/p>\n
In Australia, share prices closed 0.1 percent higher, but
\nearly gains were sapped by falls in the Japanese market.<\/p>\n
The Australian Stock Exchange's main indicator, the All
\nOrdinaries index, gained 4.1 points to 2,757.0.<\/p>\n
In New Zealand, stock market, already concerned about a
\nsliding Kiwi dollar, was unnerved by the extent of falls in Tokyo
\nand closed down 0.8 percent.<\/p>\n
The NZSE-40 index lost 17.51 to 2,315.21.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/tokyo-slump-drags-asian-bourses-down-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }