HONG KONG. Nov 10: Tokyo and Hong Kong led much of Asia in a mild share sell-off Monday, while Seoul's market moved tentatively upward, reports AP.

Hong Kongs blue-chip Hang Seng index closed 111.66 points, or 1.1 per cent, lower at 9.992.84. after a day of bouncing up and down within a 345 point range.

The index plunged more than two per cent In the first five minutes of trading, then rebounded and ended the morning session in positive territory. Afternoon trading pushed it back down.

More volatility was expected because of continued currency worries. The recent sharp devaluations across Asia, and continuing falls of the Japanese and South Korean currencies, have caused concerns about sustaining the Hong Kong dollar's peg to the US dollar.

In Tokyo, the benchmark 225-issue Nikkei Stock Average ■ lost 139.16 points, or 0.88 per cent, and closed at a 28-month knf" of 15.697.20. Investors were worried about the weakening yen and the health of do--mestic banks.

The yen fell in late afternoon trading to 124.06 to the US dollar, down from 123.73 on Friday.

On Friday, the Nikkei had fallen 4.22 per cent to its lowest level in more than two years. The drop was set off by panic selling after news reports that a Japanese bank might dump its stocks. The bank denied the reports.

In Seoul, investors expecting government intervention to defend the currency and boost the market pushed the main share index upward for the first time in four sessions.

The Korea Composite Stock Price Index gained 29.62 points, or 5.9 per cent, closing at 525.32. The index had plunged a record 6.9 per cent Friday and 3.9 per cent Saturday to 495.7.

Repeated dollar selling by South Korea's central bank could not keep the won from losing ground Monday. By late afternoon, the US dollar was trading at 996 won. compared with 979.90 won of Friday.

Elsewhere around Asia, investors were felling gloomy over Friday's declines in New York and Europe. The Dow Jones industrial average fell 101.92 points to 7.581.32 on Friday.

BANGKOK: The main SET index fell 5.1 points, or 1.0 per cent, closing at 487.94 after investors lost their initial euphoria over the appointment of Chuan Leekpai as the country's new prime minister.

JAKARTA: The JSX index fell 3.424 points, or 0.7 per cent, closing at 462.692.

KUALA LUMPUR: The main Composite Index of 100 blue-chip stocks lost 17.93 points, or 2.5 per cent, to 689.52. Traders blamed the announcement by the national electric company.

Tenaga Nasional Bhd, that it lost money over the past fiscal year.

MANILA: The main index of 30 selected stocks fell 41.64 points, or 2.2 per cent, to 1.851.97 at the close after Inching up 0.55 points Friday.

SINGAPORE: The Straits Times Industrials Index fell 7.56 points, closing at 1.663.69

SYDNEY: The All Ordinaries Index of share prices closed at 2.521.6. up 8.2 points from Friday's close of 2.513.4.

TAIPEI: The markets weighted Index rose 96.38 points, or 1.3 per cent, closing at 7,76.14. Investors shrugged off concerns over volatility in International financial markets and bet that brisk October sales of computer-related products will boost profits at technology companies.

WELLINGTON: The market slumped 66.38 points, or 2.7 per cent, closing at 2,419.12. It was responding to Friday's global declines.