Tokyo stocks slump

Published February 2, 2002

TOKYO, Feb 1: Asian stocks had a patchy session on Friday with most markets ignoring a perky Wall Street as Tokyo dived to its worst close since September.

Tokyo’s Nikkei-225 average hit the four-month low as public support for reformist Prime Minister Junichiro Koizumi plummeted following the shock dismissal of his foreign minister, dealers said.

HONG KONG: Hong Kong share prices fell 0.3 per cent Friday as profit-taking and the slump in Tokyo eroded initial gains made on Wall Street’s overnight advances, dealers said.

SYDNEY: The Australian share market closed 0.5 per cent lower after profit-taking and a discounting of positive US moves pushed the market lower, brokers said.

The All Ordinaries index fell 18 points to 3,386 while the SP/ASX 200 gave up 18.7 points at 3,445.5.

SINGAPORE: Singapore share prices closed 0.3 per cent weaker as profit-taking brought down gains from the rise in US stocks, dealers said.

MUMBAI: Share prices on the Bombay Stock Exchange closed slightly higher on buying of state-run and cement companies, dealers said.

The 30-share BSE sensitive index closed up 22.89 points, or 0.7 per cent, at 3,333.92 points.

JAKARTA: Indonesian shares closed 0.6 per cent higher as telecom stocks staged a late rebound, dealers said.

The Jakarta Stock Exchange composite index ended up 2.646 points at 454.282.

WELLINGTON: New Zealand’s stock market ended the week up 0.4 per cent, helped up by a bullish day on Wall Street and strong gains by Telecom.

The NZSE-40 index ended 9.55 points higher at 2,135.22 on turnover of US$34.6 million.—AFP

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