October 2, 2002	Wednesday	Rajab 24, 1423

SINGAPORE, Oct 1: Asia borrowed less in the first nine months of this year with bond issues and loans falling six per cent from a year earlier to $101.9 billion, a financial research firm said on Tuesday.

Domestic bond issuances in Asia excluding Japan and Australasia declined three percent to $45.5 billion in the period from $46.7 billion last year, Thomson Financial said in a statement.

A slowdown in bond issues in Singapore and Malaysia contrasted with a 43 percent increase in domestic bond market offerings in Hong Kong and South Korea, it said.

South Korea saw 82 deals from January to September worth $14.7 billion equalling issuance volumes in Hong Kong.

Foreign currency bond volumes in Malaysia, the Philippines and South Korea however remained strong, Thomson Financial said. The largest deal was a $650m eurobond issue by Korea Electric Power Corp.

Loan volumes in the region fell 19 per cent to $40.6 billion from $50.1 billion a year earlier, Thomson Financial said.—AFP