HONG KONG, Dec 12: Asian stocks plunged on Friday after US Senators failed to approve a financial lifeline for struggling US automakers, whose potential collapse could devastate the industry worldwide.

TOKYO: Japan stocks index plunged 5.56 per cent.

The Nikkei index dropped 484.68 points to 8,235.87.

Automakers fell sharply on worries about the outlook for the troubled industry. Toyota Motor lost 10 per cent to 2,760 yen and Honda Motor dropped 12 per cent to 1,921 yen.

Auto parts makers also fell sharply. Denso fell 12 per cent to 1,430 yen and Aisin Seiki lost 13 per cent to 1,116 yen.

HONG KONG: Share prices closed down 5.5 per cent.

The benchmark Hang Seng Index dropped 855.51 points to 14,758.39, after trading between 14,479.23 and 15,393.09. Turnover was 58.77 billion dollars (7.53 billion US).

All blue chips ended in negative territory. Banking giant HSBC fell 5.7 per cent to 82.25 dollars and wireless operator China Mobile ended 4.7 per cent lower at 78.50 dollars.

SYDNEY: Australian share prices slumped 2.4 per cent.

The S&P/ASX200 index fell 87.6 points to 3,510.4 while the broader All Ordinaries closed down 81.7 points to 3,452.5. Turnover was a light 1.07 billion shares worth 3.42 billion dollars (2.3 billion US).

Among the four major banks National Australia Bank fell 1.3 per cent to 19.10 dollars and Westpac dropped 3.1 per cent to $16.03 while the Commonwealth Bank was unchanged at $28.15 and ANZ added 1.0 per cent to 14.56.

SINGAPORE: Singapore shares closed 3.0 per cent lower.

The blue-chip Straits Times Index was down 53.82 points at 1,740.34 on volume of 1.04 billion shares worth 943 million dollars (631 million US).

Keppel Land was a key loser, down 14 cents to 1.44 Singapore dollars, but peer City Developments gained seven cents to 6.02. Shipping firm Neptune Orient Lines also fell heavily, down 12 cents to 1.19.

KUALA LUMPUR: Malaysian shares closed 0.1 per cent down.

The Kuala Lumpur Composite Index shed 8.41 points to close the day at 852.27 off an intraday low of 848.05.

Tenaga Nasional was down 2.5 per cent at 5.90 ringgit, Sime Darby fell 3.6 per cent at 5.30 ringgit and MMC Corp shed 5.3 per cent at 1.07 ringgit.

Among gainers for the day Tanjong PLC added 2.3 per cent at 13.50 ringgit, Asiatic was 4.5 per cent higher at 3.26 ringgit and SP Setia gained 1.4 per cent at 3.00 ringgit.

JAKARTA: Indonesian shares ended 4.1 per cent lower.

The Jakarta Composite Index fell 54.72 points to 1,261.97 in moderate volume.

Coal miner Bumi Resources plunged 10 per cent to 900 rupiah, while rival Bukit Asam tumbled 9.3 per cent to 6,800 rupiah. Car distributor Astra International dropped 8.9 per cent to 9,700 rupiah.

WELLINGTON: New Zealand shares closed 1.82pc lower.

The benchmark NZX-50 index fell 49.76 points to 2,676.95 on light turnover worth $70.6 million (38.9 million US).

Market leader Telecom fell eight cents to $2.32 , Fletcher Building was down 13 cents at 5.70, and Contact Energy was down nine cents at 6.78.

Pike River Coal fell five cents to 90 cents and pay television operator Sky TV dropped four cents to 3.92.

MUMBAI: Indian shares rose 0.46 per cent. The benchmark 30-share Sensex index rose 44.61 points to 9,690.07.—AFP