1. Duit (2 x 25)

Thu, 09 Aug 2001

1. Duit (2 x 25) Asian currencies up late, S'pore dollar leads advance

2. Market (1 x 35) Tech shares drag Asia stocks down JP/11/Market

Techs drag Asia stocks down, blue-chips help HK

SINGAPORE (Reuters): Technology shares dragged shares prices lower in some of Asia's key stock markets on Wednesday, while others set their own pace with local factors pulling them in different directions.

Tokyo stocks ebbed to close lower, with high-tech shares faltering again and demand fading for selected "old economy" issues which had rallied on optimism over the government's new economic policies.

After a brief bounce earlier this week, several information technology stocks took a beating after sharp profit declines by U.S. and Japanese technology firms, including TDK Corp.

The benchmark Nikkei average was down 155.79 points or 1.26 percent at 12,163.67.

"We're crawling around near the bottom of a pan," said Nobuaki Kurisu, chief fund manager at Sumisei Global Investment Trust Management, referring to the modest recovery in the Nikkei from a 16-year closing low marked last week.