Asian stocks fell for a third week, ending the regional benchmark’s worst first half in 16 years, as record oil prices dimmed earnings prospects and concern grew that credit market losses haven’t reached an end.
The MSCI Asia-Pacific Index lost 2.2 percent to 136.96 this week. It has fallen about 13 percent in the first six months of this year, its worst performance since a 23 percent drop in 1992. A gauge tracking consumer stocks led losses among 10 industry groups on the index.
TAIPEI
PHOTO: AFP
Taiwanese share prices are expected to extend losses next week with market sentiment dampened by recent steep declines, high oil prices and volatility on Wall Street, dealers said.
In the week to Friday, the TAIEX closed down 353.68 points or 4.48 percent at 7,548.76 after a 2.51 percent fall the previous week.
“The market is dominated by a bearish mood, with few able to be sure when Wall Street will stablise,” Concord Securities (康和證券) analyst Allen Lin said.
TOKYO
Japanese share prices slid on worries about weak US markets, high oil prices and a stronger yen which is bad for exporters, dealers said.
The Tokyo Stock Exchange’s benchmark Nikkei-225 index ended down 277.96 points or 2.01 percent at 13,544.36. The broader TOPIX index of all first-section shares declined 24.11 points or 1.79 percent to 1,320.68.
HONG KONG
Shares closed down 1.84 percent, dealers said.
The benchmark Hang Seng Index lost 413.32 points to 22,042.35. For the week, the index fell 3.3 percent, while it is down 21 percent since the start of the year.
SYDNEY
Australian shares dropped 1.3 percent, dealers said.
The benchmark S&P/ASX 200 shed 70 points to end the day at 5,237.0 while the broader All Ordinaries was down 72.1 points at 5,349.4.
The Australian market tumbled 160.6 points, or 3.1 percent, on opening but clawed back much of the lost ground amid bargain-hunting.
SHANGHAI
Chinese share prices closed down 5.29 percent, dealers said.
The benchmark Shanghai Composite Index, which covers A and B shares, closed down 153.42 points at 2,748.43.
The Shanghai A-share Index lost 5.29 percent to 2,882.95, while the Shenzhen A-share Index was down 6.06 percent at 833.21.
The Shanghai B-share Index was down 4.05 percent to 209.12 and the Shenzhen B-share Index lost 4.58 percent to 471.21.
SEOUL
Shares closed 1.9 percent lower, dealers said.
The KOSPI index closed down 33.21 points at 1,684.45, after diving as much as 2.2 percent in the earlier session. The index fell about 3 percent this week.
SINGAPORE
Shares closed 0.84 percent lower, dealers said.
The blue-chip Straits Times Index fell 25.04 points to 2,955.91.
The benchmark index fell to an intraday low of 2,922.87.
MUMBAI
Indian shares plunged 4.3 percent, dealers said.
The benchmark Mumbai 30 share SENSEX index fell 619.6 points to 13,802.22, a 13-month low.
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