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HONG KONG, Jan 18: Asian stocks were punished sharply on Wednesday as Tokyo was tripped up again by a probe into Internet favourite Livedoor, with the authorities forced to call an unprecedented early close as a tidal wave of sell orders threatened to crash the Japanese trading system.
Dealers said the investigation into alleged fraud at Livedoor sparked fears that other high-techs could be in the frame as well, sparking losses at one stage of some 4.7 per cent as Tokyo approached near free-fall.
The Japanese market steadied to finish down 2.94 per cent but by then the damage had been done with Taipei plummetting 3.16 per cent and Seoul down 2.64 per cent while Sydney, a record breaker again on Tuesday, lost 1.63 per cent.
TOKYO: Share prices nosedived before the stock exchange halted trade early for the first time in 57 years, amid the fallout from a raid by prosecutors on the offices of Internet company Livedoor.
Among other Internet-related issues, Softbank finished down 500 yen or 13.0 Per cent at 3,340, while Yahoo dipped 16,000 yen or 9.8 per cent to 148,000.
Toshiba settled down 46 yen at 727.
HONG KONG: Share prices closed 0.61 per cent lower as investors were unnerved by another huge drop on the Japanese market sparked by a probe into Internet favourite Livedoor.
The Hang Seng Index closed down 94.99 points at 15,481.21. Turnover was 33.09 billion Hong Kong dollars (4.2 billion US).
SYDNEY: Share prices closed 1.63 per cent lower as a massive sell-off in Tokyo sparked heavy losses across the region, with local investors opting to take profits after a record breaking run.
The key S and P/ASX 200 index lost 79.2 points to 4,786.9. Turnover was 1.31 billion shares worth 4.71 billion dollars (3.54 billion US).
SINGAPORE: Share prices closed 0.74 per cent lower, hit by overnight falls on Wall Street and a dramatic sell-off in Japanese markets.
The Straits Times Index was down 17.66 points to 2,359.30. Volume traded at 1.2 billion shares worth 1.2 billion Singa-pore dollars (754 million US).
KUALA LUMPUR: Share prices closed 0.68 per cent lower in line with the region after the Japanese market tumbled for a second day.
Dealers said there was also profit taking after a recent run-up, with investors concerned over rising oil prices.
JAKARTA: Share prices closed 1.62 per cent lower as a sharp drop in Tokyo’s Nikkei 225 index and rising oil prices sparked extended profit-taking in blue chips.
WELLINGTON: Share prices closed 0.59 per cent lower following sharp falls in overseas markets.
Data out Wednesday showed inflation had eased to 3.2 per cent in the December year, down from 3.4 per cent in the 12 months to September.
MUMBAI: Share prices closed 0.82 per cent lower after a fall in index heavy Reliance stock following demerger of the company’s businesses, and on regional weakness.—AFP
