Asian indexes skidded Thursday as investors concerned about the health of global credit markets continued to sell stocks across the board.
In Tokyo, Nikkei 225 index fell 1.99 percent to close at 16,148.49 points while in Hong Kong, the blue chip Hang Seng Index fell 3.3 percent to 20,672.39, its lowest level since June 13.
Steel, shipping and oil stocks led the decliners. Kobe Steel fell 3.96 percent, shipbuilder NYK Line lost 2.15 percent, and refiner Nippon Oil shed 2.94 percent.
Exporters were also hurt by the yen's strengthening against the dollar, which makes their products more expensive overseas. Honda Motor Co. fell 3.57 percent, and Sony Corp. dropped 1.81 percent.
ELSEWHERE:
BANGKOK: Thailand's main benchmark fell 3 percent to 750.69 after moderate trade.
JAKARTA: Indonesia's composite index plunged 5.9 percent to 1,908.635 in moderate volume. The index has fallen 21 percent since a record close July 24.
KUALA LUMPUR: Malaysia's composite index for the Kuala Lumpur Stock Exchange fell 3.5 percent to 1,207.61.
MANILA: Philippine shares plunged 6.01 percent to 2942.31, the index's lowest finish since January and its second sharpest fall this year. The index has dropped 9.8 percent the past two days.
MUMBAI: The Bombay Stock Exchange's benchmark index -- the 30-share Sensex -- plunged 643 points, or 4.3 percent, to end at 14,358.50 points. The drop in points is the index's second-biggest fall in a single session. The biggest was 826 points May 18, 2006.
SEOUL: The Korea Composite Stock Price Index fell 6.9 percent, or 125.91, to close at 1,691.98, its worst point drop ever and lowest finish since May 30. The Kospi fell as much as 7.5 percent in early trade.
SHANGHAI: China's main Shanghai stock index ended down 2.1 percent at 4765.45, its biggest daily decline in percentage terms since Aug. 1.
SINGAPORE: Singapore's Straits Times Index sunk 3.7 percent to 3,152.16 points, its lowest since March 20.
TAIPEI: Taiwan shares fell to their lowest level for two and a half months, led by non-technology companies. The Weighted Price Index of the Taiwan Stock Exchange fell 4.6 percent, to 8201.37, the lowest level since May 31's 8144.95.
WELLINGTON: New Zealand shares marked their fifth consecutive loss in five days, with the NZX 50 falling 1.2 percent to 3,957.93. The index has lost more than 8 percent in three weeks.
SYDNEY: Australia's benchmark S&P/ASX 200 index hit its lowest level in seven months although a subsequent recovery suggested it had found a significant bottom. The index fell 1.3 percent to 5783.3 after earlier hitting a low of 5483.3.
with files from other wire services
