Share prices fall sharply in Tokyo

TOKYO (Agencies): Share prices fell sharply on the Tokyo Stock Exchange yesterday with investors discouraged by the Japanese currency's steep advance.

The Nikkei Stock Average of 225 selected issues in the first section closed 351.27 points or 1.6 percent lower at 21,152.03. The index gained 135.83 points the previous trading day.

The broader-based Tokyo Stock Price Index of all issues in the major section, which gained 7.0 points Friday, lost 21.06 points to end at 1,684.47.

In Hong Kong, the blue-chip Hang Seng Index lost 115.78 points to close the day's trading at 8,998.18 -- its lowest level in more than five weeks.

In Taipei, following the previous session's 10.1-point advance Friday, the 374-issue weighted price index on the Taiwan Stock Exchange lost 121.31 points or 1.97 percent to settle at 6,038.33 points.

In Singapore, the blue-chip Straits Times Industrials index shed 21.73 points to close provisionally at 2,284.50.

Brokers said investors were sitting on the fence with wait-and-see attitude due to lack of buying interest. The All Singapore Index dropped 1.44 to 555.23.

In Bangkok, the Stock Exchange of Thailand (SET) index dropped 17.25 points, or 1.26 percent, amid domestic political uncertainty and weaker overseas markets, brokers said.

In Sydney, The key All Ordinaries Index closed 1.3 percent or 26.8 points down at 2,024.4, its lowest point since May 10, while the All Industrials Index plunged 58.9 points to 2,934.8 and the All Resources fell 1.3 to 1,342.9.

In London, shares on the London Stock Exchange were trading sharply lower Monday, reflecting weakness in the bond market amid concern of a rise in interest rates.

The blue-chip Financial Times Stock Exchange 100-share index was at 2,987.6 points, down 35.3 points near midmorning. The narrower Financial Times 30 index was at 2,349.6 points, down 23.3 points.