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TOKYO, Oct 18: Asian shares ended sharply lower on Thursday as growing concern over the US anthrax scare and overnight falls in New York put pressure on regional bourses.
Share prices in Tokyo dropped 2.6 percent, dragged down by falls on Wall Street and growing bio-terror fears.
The Nikkei 225 average of the Tokyo Stock Exchange closed down 280.60 points at 10,474.85. The Topix of all issues on the first section of the stock exchange fell 19.12 points to 1,068.48.
The fall in New York is mostly to blame, Kazunori Jinnai, Daiwa SMBC equity department head, said, adding Tokyo shares were also correcting after recent rises.
It is time to take some breaks now, he said.
New York stocks ended sharply lower Wednesday on intensified concerns about bio-terrorism following the news of anthrax contamination in Congress and elsewhere.
The tech-heavy Nasdaq composite index slumped 4.4 per cent to 1,646.38 while the Dow Jones industrials fell 1.6 per cent to close at 9,232.97.
Daiwa Securities equity department general manager Shunsuke Nishino said the anthrax concerns in the United States threw cold water on sentiment and thwarted expectations for a sustained rebound.
HONG KONG: Hong Kong share prices plunged 3.7 per cent on sell-offs in key stocks after falls on Wall Street amid mounting concerns over bioterrorism.
The key Hang Seng index lost 380.20 points to close at 9,880.61.
SYDNEY: Australian shares fell 1.1 per cent following a tumble on Wall Street, with few sectors escaping unscathed.
The All Ordinaries index fell 35.9 points to 3,134.1 while the SP/ASX 200 lost 38.3 points or 1.2 per cent to 3,199.6.
ABN Amro equities strategist Gerard Minack said the falls were fairly predictable after Wall Street’s slide.
SINGAPORE: Singapore shares closed 2.4 per cent lower after United States equity stocks ended weaker.
The Straits Times Index fell 35.33 points to 1,406.74 with market players keen to take profits after recent gains, dealers said.
The market is also starting to speculate what sort of policies the new government would be making, said the dealer.
KUALA LUMPUR: Malaysian stocks closed marginally lower due to profit-taking on the eve of the 2002 budget announcement.
The Kuala Lumpur Stock Exchange’s composite index fell 0.81 points, or 0.1 per cent, to finish at 620.77.
Prices were very rangebound. The market is just marking time before the budget is announced.
MUMBAI: Indian shares closed 2.1 per cent lower on the Bombay Stock Exchange (BSE), triggered by selling in Wipro after the blue chip’s second quarter results failed to meet expectations of some analysts.
The benchmark 30-share BSE sensitive index closed down 62.52 points at 2,981.33.
Wipro announced its second quarter to September net profit rose 40.5 per cent year-on-year to $45.10 million and sales were Rs8.776 billion against 7.511 billion.
The company said it was ahead of the industry’s growth rate, but some analysts said the results were lower than expected.
JAKARTA: Jakarta share prices closed 1.0 per cent higher as domestic security concerns eased slightly with no reports of any major anti-US protests in the past few days.
The Jakarta Stock Exchange composite index closed up 3.796 points at 385.165.
WELLINGTON: New Zealand’s sharemarket dipped 1.1 per cent following another volatile performance on Wall Street.
We basically followed on from where the American market left off and followed their lead down, Forsyth Barr Frater Williams broker Suzanne Kinnaird said.—AFP
