Many Asian markets down, Taipei hit hard

Many Asian markets down, Taipei hit hard

HONG KONG (Reuter): Many Asian markets closed lower yesterday with Taipei the hardest hit after a newspaper report said China has outlined a timetable for reunification with the island, brokers said.

Taiwan share prices plunged at the close, with the index falling 169.23 points, or 3.48 percent, to end at 4,692.30.

The Hong Kong Economic Times said Beijing would today announce its "attitude" towards Taiwan's March presidential elections and reveal a timetable for reunification with Taiwan.

Meanwhile, shares in Tokyo retreated in lackluster trade. The 225-share Nikkei average shed 74.64 points, or 0.36 percent, to 20,589.20, while the March contract shed 100 points to 20,650.

The blue-chip Hang Seng Index in Hong Kong slid 52.90 points to close at 11,058.97, off a day low of 11,013.01.

The Straits Times Industrials Index in Singapore rebounded from the day's low of 2,419.02 to close at 2,424.07, down 13.27 points.

The SET index in Bangkok finished 1.70 points lower at 1,376.45.

Bombay's 30-BSE index firmed 46.10 points, or 1.63 percent, to a provisional 2,872.18 at close.

The Jakarta composite index fell 1.07 points to close at 565.79 points after touching the day's high of 570.07.

"Players took profit in heavyweight consumer stocks following generally weak market sentiment in the region," one broker said.

Big capitalized consumer stocks Gudang Garam, Sampoerna and Mayora fell on profit-taking, brokers said.

The Kuala Lumpur Stock Exchange's Composite Index ended down 10.14 points to 1,041.26.

The South Korean composite stock price index closed at 873.15, up 8.38 points from Saturday.

The Australian share market ended higher, with the All Ordinaries index gaining 25.4 points to 2279.3.

The Financial Times-Stock Exchange index of 100 leading British shares was down 6.1 points at 3,728.6.

In Paris, the CAC-40 share index was up 5.76 at 1,972.49.

The 30-share DAX index in Frankfurt rose 11.42 to 2,444.35 but below levels in after-hours computerized business on Friday.