Sun, Jul 29, 2007 - Page 10 News List

Asian stocks fall on concern over real-estate slump

GLOBAL IMPACT Some sporadic bargain-hunting in Taipei on Friday was insufficient to prevent a global sell-off from dragging Taiwanese stocks sharply lower

BLOOMBERG

The benchmark Shanghai Composite Index, which covers both A and B shares listed on the Shanghai Stock Exchange, closed down 1.10 points at 4,345.36. The index rose 0.52 percent Thursday to a record high of 4,346.46 points.

The Shanghai A-share Index was down 1.11 points to 4,557.43 on turnover of 169.13 billion yuan, while the Shenzhen A-share Index was up 16.81 points or 1.31 percent at 1,301.80.

SEOUL

South Korean share prices fell sharply following Wall Street's heavy overnight losses as foreign investors sold off massively to take their profits on recent record gains, dealers said.

The KOSPI index closed down 80.32 points or 4.1 percent at 1,883.22, the largest single day loss since June 3, 2004.

SYDNEY

Australian share prices fell sharply, tumbling 2.8 percent amid growing unease over the health of the US housing market and its impact on the world's largest economy, dealers .

The benchmark S&P/ASX 200 tumbled 175.6 points to close at its low for the day of 6,082.9. The All Ordinaries index fell 174.1 points at 6,127.3.

MUMBAI

Indian share prices plunged 3.43 percent amid a sell-off across Asian markets after Wall Street posted heavy losses overnight, dealers said.

The Mumbai benchmark 30-share SENSEX index slid as much as 616.63 points or 3.9 percent to a day's low of 15,159.68, before recovering marginally to close at 15,234.57, down 541.74 points or 3.43 percent.

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