Share prices mostly decline on major world markets

TOKYO (AFP): The yen's advance against other currencies and a lack of incentives sent share prices lower on the Tokyo Stock Exchange yesterday.

The Nikkei Stock Average of 225 selected issues in the first section closed at 19,786.96, down 75.51 points or 0.4 percent from Friday, when the indicator gained 292.26 points.

The broader-based Tokyo Stock Price Index, which closed 22.21 points higher the previous trading day, lost 4.85 points to end at 1,610.84.

In Hongkong, stock prices fell 2.3 percent in volatile trading spurred by weaker U.S. market with the Hang Seng Index losing 198.57 points to close the day's trading at 8,4321.70.

Turnover remained thin with a total of HK$2.315 billion (US$297 million) changing hands, against Friday's HK$3.509 billion.

The key barometer shed 215.90 at the end of morning session.

The downtrend continued in the afternoon session, but late bargain hunting recouped some earlier losses.

In Singapore, share prices fell sharply on the Stock Exchange of Singapore amid a lack of buying interest, dealers said.

The blue-chip Straits Times Industrials index fell 33.77 points to close at 2,222.40 while the broader-based SES All- Singapore index lost 7.99 points to finish at 558.02.

Turnover was 144.41 million units valued at S$438.86 million ($283.14 million) compared to Friday's 100.38 million units worth S$304.99 million ($196.77 million).

In Taipei, the Taipei bourse yesterday advanced slightly but still failed to reach the long-awaited 6,000-point level, with paper-making issues enjoying an average 1.1 percent gain, dealers said.

Following the previous trading's 28.46-point rise Saturday, the benchmark 375-issue weighted price index gained 15.07 points, or 0.25 percent, to finish at 5,996.8 points.

Turnover diminished to 1,507 million shares valued at T$66.54 billion ($2.52 billion) from 1,817 million issues worth T$77.39 billion traded the previous trading day.

In Bangkok, a cash drought and negative performances in regional markets sent the Stock Exchange of Thailand (SET) index down 17.99 points (1.45 percent) to close at 1,222.72.

Trading was extremely light with just 34.61 million shares worth 2.7 billion baht ($108 million) changing hands. That was down significantly from Friday, when 49.3 million shares worth 3.8 152 million US dollars were traded.

Shares were sharply lower in Paris and London in early trading, falling on Friday's slumps in the U.S. share and bond markets after fears of a rise in U.S. interest rates.

In London, the FT-SE 100 index of leading shares was down 21.1 points at 3,084.9 points -- a fall of 0.7 percent.

In Paris, the CAC 40 index dropped 1.28 percent to 2,130.09 points.