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Asian
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April 27, 2000
HONG KONG, APR 26 (AP) - Most Asian stock markets closed lower on Wednesday, with the key index in Tokyo falling to a four-month low after investors cashed in on early gains. Japan's benchmark 225-issue Nikkei Stock Average shed 138.02 points, or 0.8 percent, to close at 18,134.31 - its lowest point since closing at 18,080.38 points on Dec. 21. On Tuesday, the average closed down 207.82 points, or 1.1 percent. Shares
had risen early Wednesday in Tokyo, led by major information
technology blue chips that received a boost from an overnight gain on the high tech-laden Nasdaq composite index in New York. But the Nikkei later fell as investors sold some of the 30 stocks that were added to the index this week. In currency dealings, the U.S. dollar was recently quoted at 105.88 Japanese yen, up 0.52 yen from late Tuesday in Tokyo and above its late New York level of 105.81 yen from late Tuesday in New York. Taiwan shares slumped after a senior Taiwanese official handling the island's China policy accused Wednesday the mainland of engaging in a new round of psychological warfare, one day after Taiwanese military claimed Beijing is stepping up military demonstrations. The Weighted Price Index fell 4.3 percent, or 385.16 points, to 8535.96. Hong Kong shares closed lower on concerns that China is stepping up military exercises across Taiwan. The Hang Seng index slid 152.62 points, or nearly 1 percent, to close at 15,227.39. ELSEWHERE: MANILA: Philippine stocks fell, pressured by a weaker peso and instability in the south. The 30-company Philippine Stock Exchange Index lost 7.73 points, or 0.5 percent, to 1,639.83. SEOUL: Shares plunged as investors fear that losses at ailing Hyundai Investment Trust may hurt parent Hyundai Group. The Korea Composite Stock Price Index, or Kospi, tumbled 23.97 points, or 3.3 percent, to 713.23. KUALA LUMPUR: Malaysian stocks rose as investors seized the opportunity to snap up bargains. The Composite Index, which tracks 100 blue-chip stocks, gained 6.08 points, or 0.7 percent, to 899.00. SINGAPORE: Shares gained boosted by demand from fund managers on bank and property counters. The Straits Times Index rose 41.84 points, or 2 percent, to 2,108.80. BANGKOK: Thai shares fell after investors cashed in on earlier gains. The SET Composite Index slipped 1.92 points, or 0.5 percent, to 394.56. SYDNEY: Australian stocks closed higher, fueled by gains in bank and media counters. The All Ordinaries Index rose 43 points, or 1.4 percent, to 3,084.50. WELLINGTON: New Zealand shares rose despite investor nervousness following U.S. market volatility in recent weeks. The NZSE 40-capital index gained 4.39 points, 0.2 percent, to 2,016.81.
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