Most Asian stock exchanges down

Most Asian stock exchanges down

TOKYO (Agencies): Japanese share prices plunged 2.6 percent yesterday here with the leading index slipping to its lowest level in almost three years on renewed worries over the outlook for the economy.

The Tokyo fall was echoed on most Asian bourses, with only Jakarta bucking the trend.

The Nikkei Stock Average closed 398.12 points lower at 15,044.18 points while the broader Topix index of all shares on the first section of the Tokyo Stock Exchange lost 21.56 points to close at 1,223.75.

In Seoul, the Composite Price Index dropped 3.85 points to finish at 886.87 points.

The Taiwan Stock Exchange index slipped another 31.23 points to settle at 5,609.79 points, after a 40.56-point drop Thursday.

In Hong Kong, share prices closed 0.27 percent lower on thinner turnover, although off from earlier lows after buying interest emerged late in the day.

The Hang Seng Index dropped 25.16 points to close at 9,267.62 for the fourth straight retreat.

The Philippine Stock Exchange composite index fell by 7.3 points to close at 2,832.17 points.

The Australian Stock Exchange all ordinaries index fell 13.7 points to 1, 984.5.

The Kuala Lumpur Stock Exchange index fell 6.83 points to 1,054.36.

In Singapore, blue chip share prices closed 0.69 percent lower on further profit-taking amid concern over Singapore's economic slowdown and mixed signals from Wall Street, dealers said.

The Stock Exchange of Singapore (SES) Straits Times Industrials (STI) index dropped 15.04 points to 2,160.44. The broader SES All-Singapore index dropped 5.54 points to 522.

The UOB OTC index, tracking Malaysian stocks, fell 9.75 points to 1,142.80.

The Jakarta composite index ended 2.66 points up, or 0.54 percent higher, at 491.75.

"Property-related stocks rebounded modestly in late trading on speculative buying, mostly by local players," one broker said.

The Stock Exchange of Thailand (SET) index shed 2.29 points to close at 1, 394.50 points.

Bombay's BSE 30-share index lost 21.56 points to close at a provisional 3,337.71 while the composite National index shed 6.63 points to end at a provisional 1,573.20 points.

In London, the FT-SE 100 index of leading shares was down 16.1 points at 3,364.7. In Paris, the CAC-40 index opened 9.99 points lower at 1,941.20.

The 30-share DAX index in Frankfurt was down 11.26 at 2,119.71.