Asian markets down after steep drop on Wall St.

Associated Press, Hong Kong

Asian stock markets closed lower Tuesday, pushed down by sharp declines overnight on Wall Street.

Tokyo's benchmark 225-issue Nikkei Stock Average lost 99.49 points, or 0.95 percent, to 10,512.82. On Monday, the average closed down 182.85 points, or 1.69 percent.

The Nikkei index started lower following a sharp pullback on Wall Street on Monday. The Dow Jones industrial average dropped 275.67 to finish at 9,269.50. The Nasdaq composite index closed at 1,699.52, down 69.44.

Also hurting the Tokyo market was a government report, released early Tuesday, that showed Japan's unemployment rate jumped to a record high of 5.3 percent in September from the previous record high of 5.0 percent in August.

The report showed the severity of the economic problems facing Japan that have been bad for years but took a turn for the worse after the Sept. 11 terrorist attacks in the United States.

In currency trading, the U.S. dollar was quoted at 121.81 yen, down 0.62 yen from late Monday and also below its late New York level of 122.06 yen overnight.

In Hong Kong, the blue-chip Hang Seng Index fell 101.66 points, or 1.0 percent, closing at 10,076.43. On Monday, the index had lost 226.65 points, or 2.18 percent.

In Singapore, share prices closed lower. The benchmark Straits Times Index fell 10.38 points, or 0.74 percent, to 1,383.36 .

In Manila, Philippine shares closed mixed, with the main index edging higher on bargain hunting in select oversold blue chips. The 30-company Philippine Stock Exchange Index ended up 0.30 point, or 0.03 percent, to 995.14.

South Korean share prices closed lower following Wall Street's overnight losses. The Korea Composite Stock Price Index, or Kospi, fell 2.6 percent, or 14.00 points, to 533.87.

Malaysian shares closed lower. The benchmark Kuala Lumpur Composite Index fell 0.4 percent, or 2.61 points to 603.19.

In Jakarta, Indonesian share prices closed lower in line with regional markets. The JSX Composite Index fell 1.6 percent, or 5.966 points, to 378.362.

Thai share prices closed lower on profit-taking. The Stock Exchange of Thailand Index fell 4.56 points, or 1.6 percent, to 273.60.