Skip to main content
CNN.com International
The Web    CNN.com      Powered by
 
 
 
 
 
 
 
 
 
 
 
 
 
ON TV
 
 
 
 
 
 
 
Business

Wall St. drags Asia lower


story.nynixnewwafp.jpg
Hynix Semiconductor is among Korean stocks in the red Thursday.
YOUR E-MAIL ALERTS
Nikkei
Topix
Kospi
Taiex

SYDNEY, Australia (CNN) -- Asian sharemarkets are posting big falls at midday Thursday, with South Korea down 2.5 percent after a plunge on Nasdaq.

Taiwan, Singapore and Hong Kong are also off sharply.

The Japanese market is closed Thursday for a national holiday.

In Australia, mining stocks have pushed the S&P/ASX200 down 1.3 percent by early afternoon, with BHP Billiton dropping 3 percent.

BHP and fellow miners Rio Tinto and Alumina, plus big steelmaker Bluescope, are off sharply on concerns that Chinese demand for metals may fall as China moves to cool its economy. (Full story)

Bluescope has slipped 6.2 percent to A$6.09.

In Seoul, the Kospi is off 2.54 percent to 878.99.

Market leader Samsung Electronics is 3.3 percent lower to 582,000 won and big exporter Hyundai Motors is down more than 3 percent to 44,950 won.

Leading chipmaker Hynix Semiconductor is off 2.2 percent to 11,000 won.

In Taiwan, the Taiex is 1.7 percent lower to 6462.91. Chip foundry UMC has slipped 4 percent to T$31.20 and larger rival TSMC is off 3.2 percent to T$60.00.

In Hong Kong, the Hang Seng index is 1.56 percent lower to 11,974.98, with China Mobile and Hutchison Whampoa both almost 2 percent down.

Singapore's Straits Times index is about 1 percent lower, led by a 3.1 percent fall to S$1.56 for chipmaker Chartered Semiconductor.

In New Zealand, where the central bank lifted interest rates by 0.25 percentage points Thursday to 5.5 percent, the Top 50 index is 0.5 percent lower to 2642.78. (Full story)

The declines among Asian techs follow the sharp selloff on Wall Street Wednesday which saw the Nasdaq close 2.1 percent lower to 1989.54. The Dow Jones industrial average slipped 1.3 percent to 10,342.60. (Full storyexternal link)

On Wednesday, Japanese stocks closed mixed as investors reacted to the latest industrial production figures and a swag of earnings reports. Techs such as Toshiba and Sony were big losers, but banks made solid gains.

The Nikkei 225 average finished down 0.34 percent to 12,004.29. The broader Topix was up 0.16 percent to 1206.92. That follows the Nikkei's 1 percent fall Tuesday, a day after the average closed at a 33-month high.


Story Tools
Click Here to try 4 Free Trial Issues of Time! cover
Top Stories
CNN/Money: Convictions in Tyco case
Top Stories
EU 'crisis' after summit failure

CNN US
On CNN TV E-mail Services CNN Mobile CNN AvantGo CNNtext Ad info Preferences
SEARCH
   The Web    CNN.com     
Powered by
© 2005 Cable News Network LP, LLLP.
A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you.
Read our privacy guidelines. Contact us.
external link
All external sites will open in a new browser.
CNN.com does not endorse external sites.
 Premium content icon Denotes premium content.