Sun, Oct 21, 2007 - Page 10 News List

Jitters about US housing slump sap Asian stocks

TAKING A BREATHERThe TAIEX traded in a narrow band on Friday as strong global earnings reports failed to lift the broader market, despite gains in select technology stocks

BLOOMBERG

SINGAPORE

Singapore share prices closed 1.62 percent lower, dragged down by banking stocks ahead of their third-quarter earnings reports next week.

The Straits Times Index closed down 61.71 points at 3,747.98.

MUMBAI

Indian share prices slid 2.44 percent in volatile trade as investors chose to unwind positions fearing sharper falls on concerns over capital flow controls.

Dealers said the markets could drop further until clarity emerges on a derivatives regulatory proposal on participatory notes.

The SENSEX index closed 438.41 points down to 17,559.98.

"Investors nerves are still rattled. We expect the markets to remain choppy on low volumes until clarity on the P-note proposal comes through," said a dealer with brokerage ULJK Securities.

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