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Thu, 01 Nov 2001

JP/Asian stocks down after Wall Street's decline

Asian stocks down after Wall Street's decline

Associated Press, Hong Kong

Asian stocks were mostly lower Wednesday, following a decline on Wall Street.

Tokyo shares fell for a fourth straight session, with technology and telecommunications issues taking a big hit.

The benchmark 225-issue Nikkei Stock Average shed 146.48 points, or 1.39 percent, to 10,366.34. The Nikkei had fallen 99.49 points, or 0.95 percent, on Tuesday.

Hong Kong share prices closed slightly lower, pulled lower by the banking giant HSBC Holdings.

The Hang Seng Index lost 2.5 points, or 0.02 percent, to 10,073.97.

The Hang Seng had fallen 101.66 points, or 1.0 percent on Tuesday.

In currency dealings, the U.S. dollar rose against the Japanese yen.

The dollar bought 121.84 yen in late Tokyo trading, up 0.03 yen from Tuesday in Tokyo, but below its level of 122.02 yen from late Tuesday in New York.

In New York stock dealing, the Dow Jones industrial average fell 147.52 to 9,121.98 on Tuesday. The Nasdaq composite index finished at 1,667.41, down 32.11.

Thai stocks rose on a sharp gain by Phoenix Pulp & Paper. The Stock Exchange of Thailand Index finished up 1.49 points, or 0.5 percent, at 275.09.

Malaysian shares closed lower on negative market sentiment. The benchmark Kuala Lumpur Composite Index fell 3.12 points, or 0.5 percent, to 600.07.

Indonesian shares rose on bargain-hunting in telecommunications and automotive issues. The Jakarta Stock Exchange Composite index ended up 1.4 percent, or 5.373 points, at 383.735.

Philippine shares slipped as investors cashed in on recent gains in Philippine Long Distance Telephone. The Philippine Stock Exchange Index fell 1.79 points, or 0.2 percent, to 993.35.

South Korean shares rose on local buying in selected blue chips. The Korea Composite Stock Price Index, or Kospi, ended up 3.94 points, or 0.7 percent, at 537.81.

Singapore shares fell for a third consecutive day as investors worried about further weakness in the domestic and global economies. The Straits Times index fell 15.52 points, or 1.1 percent, to 1,367.84.