Asian stocks close lower

Asian stocks close lower

Dow Jones, Singapore/Jakarta

Asian stock markets ended lower Wednesday as fresh losses on
Wall Street added to the worries of investors already fretting
over the U.S.-led military strikes in Afghanistan.

In Japan, stocks slipped on renewed concerns that poor
corporate earnings would hurt the ability of banks to write off
bad loans.

Tokyo's benchmark 225-issue Nikkei Stock Average lost 46.89
points, or 0.5 percent, to 9964.88. Tuesday, the average had
fallen 1.9 percent.

In Hong Kong, the benchmark Hang Seng Index was down 60.69
points, or 0.6 percent, at 10298.24. Tuesday, the index had
rallied 391.1 points, or 3.9 percent.

Thai stocks finished mixed as gains in property companies were
offset by profit-taking in big-capitalization shares. The Stock
Exchange of Thailand Index rose 0.12 point, or 0.04 percent, to
286.72, while the blue-chip SET 50 Index lost 0.05 point, or
0.3 percent, to 18.74.

Indonesian shares ended lower Wednesday on selling in select
blue chips amid concerns over growing anti-U.S. demonstrations in
the capital, dealers said.

The JSX Composite Index ended down 0.4 percent, or 1.500
points, at 368.297, off its intraday high off 371.143. The main
index had opened 0.3 percent higher.

Volume was thin at 283 million shares valued at Rp 204 billion
(US$ 20.3 million). Losers led gainers 59 to 37, while 61 stocks
were unchanged.

Anti-U.S. protests in Jakarta went on for the third
consecutive day Wednesday. Police fired tear gas to disperse some
300 Muslim students trying to break into Parliament protesting
against the U.S.-led air strikes on Afghanistan, witnesses said.

"Market sentiment was hurt by such a clash," said a trader
with a European brokerage firm, adding that fears such protests
will turn violent discouraged investors from keeping their buying
positions.

Malaysian shares fell, dragged lower by Telekom Malaysia and
Malaysian Resources Corp. The weighted Composite Index closed
down 5.76 points, or 0.9 percent, at 603.90, its intraday low.

Philippine shares plunged to a new 10-year low on heavy
foreign selling in market heavyweights, including Philippine Long
Distance Telephone Co. The Philippine Stock Exchange Index closed
down 41.84 points, or 4.1 percent, at 991.35, its lowest level
since Oct. 11, 1991, when it finished at 985.475.

The Straits Times Index lost 17 points, or 1.2 percent, to
1365.56.

South Korean stocks dipped following losses in the electronic
sector. The Korea Composite Stock Price Index, or Kospi, slipped
4.15 points, or 0.8 percent, to 503.46.

Taiwan's stock market was closed Wednesday for a public
holiday.