SE Asian stock markets battered

SE Asian stock markets battered

TOKYO (AFP): Southeast Asian markets took a beating yesterday
as investors withdrew support amid uncertainty over regional
currencies and the release of poor economic data.

In Tokyo, Japanese share prices edged up, with short-covering
in high-technology issues reviving buying interest in early
trade, brokers said.

The Nikkei stock average of the Tokyo Stock Exchange rose 9.51
points to finish the session at 18,451.45, but the broader Topix
index of all shares on the first section closed 4.68 points lower
at 1,438.10.

In Hong Kong, stocks closed 4.2 percent down, suffering the
fifth biggest points drop in the territory's history, amid
turbulence in stocks and currencies around Southeast Asia and
rumors of a hike in local interest rates.

The Hang Seng Index, the key barometer of the Stock Exchange
of Hong Kong plunged 657.85 points to 14,876.10 points.

In Sydney, the exchange's main indicator, the all ordinaries
index, rose 4.8 points to 2,631.3.

The all industrials index rose 11.1 points to 4,235.4 while
the all resources index slipped 0.6 points to 1,380.4.

In Singapore, blue-chip share prices closed 3.6 percent down
to a four-year low.

The Straits Times Industrials index of leading shares on the
Stock Exchange of Singapore fell 69.34 points to 1,846.62, the
lowest level since late 1993. The broader All-Singapore index
gave up 17.55 points to 460.16.

In Kuala Lumpur, the key stock index plummeted 4.2 percent
choked by a surprise move to impose trade restrictions on the 100
component stocks of the composite index.

Th 100-share weighted composite index tumbled 35.74 points to
end at 812.18, after breaching a 800-points psychological support
level, established after the 1993 bull run, to touch 777.46.

In Manila, Philippine share prices fell 9.3 percent in the
biggest single-day plunge which was attributed to the release of
disappointing economic figures for the first half of the year.

The Philippine Stock Exchange index fell 212.06 points to
2,071.97 points.

In Bangkok, Thai share prices dropped 2.3 percent on foreign
selling of bank shares following the central bank's announcement
of economic data and a weakening of the baht, analysts said.

The Stock Exchange of Thailand (SET) broad-based index
declined 11.98 points to 511.76 points, while the SET-50 select
was off 1.11 points at 36.84 points.

In Shanghai, the B share index dropped 3.74 points to close at
86.61 points. The A share index of domestically-traded shares
rose 18.2 points, or 1.5 percent to close at 1,265.38 points.

In Taipei, the weighted price index slid 223.18 points to
9,827. 49.

In Auckland, the NZSE-40 capital index was up 14.36 points at
2,487.89.

In London, the FT-SE 100 index of leading shares was showing a
loss of 10.8 points at 4,896.1. in early trade.

In Paris, the CAC-40 index opened 23.82 points higher at
2,895.52.