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Asian stock markets close lower
HONG KONG. July I2:-Aslan stock markets closed mostly lower Wednesday, with Tokyo falling on sales of technology stocks and Hong Kong rallying on strong gains In a market heavyweight, reports AP.
Tokyo stocks were dragged down by an overnight fall in technology shares In New York
Tokyo's benchmark 225-is-sue Nikkei Stock Average fell 162.23 points, or 0.93 per cent, to 17.342 13. On Tuesday, the average closed down 68 32 points, or 0.39 per cent
Shares in Hong Kong rose for a seventh straight trading session to close at a 15-week high, boosted by strong gains in heavyweight conglomerate Hutchison Whampoa Ltd and other property and technology stocks
The blue-chip Hang Seng Index rallied* I I per cent, or 192.60 points, to 17.552.26. Hie highest level since March 29 when the index closed at IKO96 37 The Hang Seng rose 0 7 per cent Tuesday.
Hutchison Whampoa Ltd rose 4.1 ।>er cent to 1 15,00 Hong Kong dollars on news that It
will team up with NTT DoCoMo ol Japan and Royal KPN NV of tin Netherlands to develop the next-generation European wireless market.
In currency dealings, the US dollar rose against the Japanese ven.
The dollar bought 107.44 yen In late trading, up 0.51 yen from Tuesday in Tokyo and above its level of 107.08 yen from late Tuesday in New York.
Elsewhere:
Bangkok: Thal shares fell amid thin trading. The SET Composite Index lost I 79 points, or O.G per cent, at 323.93 points.
Jakarta: Indonesian shares fell as Investors cashed in on recent gains. The JSX Composite Index dropped 0.3 per cent, or 1.031 points, at 510.986.
Kuala Lumpur*. Malaysian shares rose foi the fourth consecutive day on lncal institutional and retail buying The Composite Index rallied 13.83 points, or 16 per cent, to 859.31
Manila: Philippine shares
fell in sluggish trade as investors cashed in on recent gains. The Philippine Stock Exchange Index dropped 8.51 points, or 0.5 per cent, to 1.554.57.
Seoul: South Korean shares rose on gains in technology stocks. The Korea Composite Stock Price Index, or Kospi, rose 2.90 points to 839.76.
Singapore.* Shares rose amid local buying. The Straits Times Index rose 6.29 points, or 0.30 I x*r cent, to 2.113.37.
Sydney: Australian stocks fell slightly following a price plunge of Cable and Wireless Oplus Ltd,. Australia's second-largest phone company. The All Ordinaries Index fell 0.1 per cent, or 3.7 points, to 3,276.3.
Taipei: Taiwan shares fell on concerns about a domestic political dispute. The Weighted Price Index dropped 98.88 points, or I 2 per cent, to H 059.75
Wellington: New Zealand shares rose on strong local Inlying. The NZSE-40 Capital Index pimped 36 I4jx)lnts. or 1.7 per cent. Io 2.1 11.76