|
|
  |
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
South Korea leads Asian share plunge
TOKYO, Japan -- Japanese stocks ended the year's final trading day Monday with the Nikkei 225 losing 1.55 percent to 8,578.95 for the half-day session and showing a 19 percent decline for the year. But the market downturn was even more pronounced in South Korea, where the benchmark Kospi plunged 4.5 percent to close at 627.55, its lowest figure since early October. Taiwan was also off sharply, losing almost 2 percent to 4,457.75, and Hong Kong's Hang Seng index dipped 1.95 percent to 9,261.19. Monday's falls in Asia came amid heightened political tensions, following North Korea's decision to expel U.N. nuclear inspectors and the continued buildup towards a war in Iraq. On Friday in the U.S., the Dow Jones industrial average finished at a two-month low, losing 1.53 percent to 8303.78. The tech-heavy Nasdaq composite was off 1.43 percent to 1348.31. (Full story) Asian markets will be without the regional heavyweight Japan for almost a week, with trading in Tokyo not resuming until next Monday, January 6, after the New Year holidays. Other markets in the region also were down sharply on Monday. Australia's benchmark S&P/ASX200 finished down 1.14 percent to 2992.7 and New Zealand's NZSE Top 40 gave up half a percent to close at 1938.9. Singapore is off about 1.2 percent to 1325.61 heading towards the close, below its low for the year of 1326.36 seen on September 25. Sony down, Toyota up
In Tokyo, consumer electronics leader Sony lost 1.98 percent to finish at 4,960 yen, helping push the technology-sensitive Nikkei average down. The fall in the broader Topix index was more mild; it dropped 0.7 percent to 843.29. Big exporter Toyota Motor finished 0.63 percent higher at 3,190 yen, and big bank Mizuho Holdings was another gainer, up 0.91 percent to 111,000 yen. But the other three big banks all slipped. UFJ fell 2.44 percent to 120,000 yen, MTFG was off 2.12 percent to 645,000 yen and SMFG lost 0.8 percent to 371,000 yen. Another big-cap to lose ground was the market's biggest stock, mobile phone operator NTT DoCoMo. It dropped 0.9 percent to 219,000 yen. Parent NTT fell more sharply, off 2.05 percent to 431,000 yen. Among tech-related stocks, Fujitsu lost 3.42 percent to 339 yen, Hitachi fell 2.78 percent to 455 yen and NEC gave up 3.06 percent to 444 yen. Among the few winners, Arabian Oil Co jumped 2.98 percent to 623 yen, propelled higher by the rising price of crude and news on Sunday that Japan's top oil producer signed a new deal with Kuwait to replace an expiring 40-year concession. In Seoul, big exporters such as Hyundai Motor and Samsung Electronics bore the brunt of Monday's sharp fall. Hyundai Motor plunged 7.19 percent to 27,750 won and Samsung, the market's biggest stock, lost 6.55 percent to 314,000 won. SK Telecom, an investor favorite, was down a relatively mild 1.72 percent to 229,000 won. LG Electronics and Kookmin Bank were both off about 5 percent. The downturn came despite South Korea reporting a rise in industrial production in November. (Full story) Hanaro Telecom, the nation's No. 2 Internet service provider, eased 0.6 percent after announcing it would buy control of smaller rival Thrunet. (Full story) In Australia, the market's biggest stock, News Corp., finished 2.46 percent lower at A$11.52. Resources giant BHP Billiton fell 2.26 percent to A$9.95 after announcing its 67 percent-held subsididary Sweet River Investments will sell its 11.5 percent interest in Valepar SA of Brazil. Valepar in turn holds 27 percent of Brazil's CVRD, the world's largest iron ore producer. (Full story) Rival resources group Rio Tinto dropped 0.88 percent to A$33.70, but gold miner Newcrest Mining continued to gain, up 2.38 percent to A$7.31. Lihir Gold added 2 percent. H.K., Taiwan lower
In New Zealand, where the Top 40 lost 0.53 percent, Telecom New Zealand closed 1.76 percent lower at NZ$4.47. Hong Kong's big bank HSBC was down 1.45 percent to HK$85.00. Telecom PCCW lost 3.94 percent to HK$1.22. China Unicom was down 3.67 percent to HK$5.25. Property stocks were broadly lower. TSMC and UMC, Taiwan's top chip foundries and the market's two biggest stocks, fell 5.05 percent and 4.95 percent to T$43.20 and T$21.10 respectively. Screenmaker AU Optronics closed 5.19 percent lower at T$20.10. Among financial stocks, Chinatrust put on 0.71 percent to T$28.50. In Singapore, big bank DBS is off 1.82 percent at S$10.80 and rival UOB is down 2.54 percent to S$11.50. SingTel is unchanged at S$1.21. Reuters contributed to this report.
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||
