Asian stock markets close lower

Asian stock markets close lower

HONG KONG (AP): Most Asian stock markets closed lower on
Wednesday, with the key index in Tokyo falling to a four-month
low after investors cashed in on early gains.

Japan's benchmark 225-issue Nikkei Stock Average shed 138.02
points, or 0.8 percent, to close at 18,134.31 - its lowest point
since closing at 18,080.38 points on Dec. 21. On Tuesday, the
average closed down 207.82 points, or 1.1 percent.

Shares had risen early Wednesday in Tokyo, led by major
information technology blue chips that received a boost from an
overnight gain on the high tech-laden Nasdaq composite index in
New York.

But the Nikkei later fell as investors sold some of the 30
stocks that were added to the index this week.

In currency dealings, the U.S. dollar was recently quoted at
105.88 Japanese yen, up 0.52 yen from late Tuesday in Tokyo and
above its late New York level of 105.81 yen from late Tuesday in
New York.

Taiwan shares slumped after a senior Taiwanese official
handling the island's China policy accused Wednesday the mainland
of engaging in a new round of psychological warfare, one day
after Taiwanese military claimed Beijing is stepping up military
demonstrations.

The Weighted Price Index fell 4.3 percent, or 385.16 points,
to 8535.96.

Hong Kong shares closed lower on concerns that China is
stepping up military exercises across Taiwan. The Hang Seng index
slid 152.62 points, or nearly 1 percent, to close at 15,227.39.

In Manila, Philippine stocks fell, pressured by a weaker peso
and instability in the south. The 30-company Philippine Stock
Exchange Index lost 7.73 points, or 0.5 percent, to 1,639.83.

In Seoul, shares plunged as investors fear that losses at
ailing Hyundai Investment Trust may hurt parent Hyundai Group.
The Korea Composite Stock Price Index, or Kospi, tumbled 23.97
points, or 3.3 percent, to 713.23.

In Kuala Lumpur, Malaysian stocks rose as investors seized the
opportunity to snap up bargains. The Composite Index, which
tracks 100 blue-chip stocks, gained 6.08 points, or 0.7 percent,
to 899.00.

In Singapore, shares gained boosted by demand from fund
managers on bank and property counters. The Straits Times Index
rose 41.84 points, or 2 percent, to 2,108.80.

In Bangkok, Thai shares fell after investors cashed in on
earlier gains. The SET Composite Index slipped 1.92 points, or
0.5 percent, to 394.56.

In Sydney, Australian stocks closed higher, fueled by gains in
bank and media counters. The All Ordinaries Index rose 43 points,
or 1.4 percent, to 3,084.50.

In Wellington, New Zealand shares rose despite investor
nervousness following U.S. market volatility in recent weeks. The
NZSE 40-capital index gained 4.39 points, 0.2 percent, to
2,016.81.