Stockwatch
Friday 30 March 2001
Frankfurt
German stocks fell, led by Allianz AG, after Frankfurter Allegemeine Zeitung reported Europe's second-largest insurer planned to buy Dresdner Bank AG. The DAX Index fell 120.69points, or 2 per cent, to 5817.52.
Paris
A fresh attack of tech-sector blues halted a three-day recovery from last week's bloody rout. The CAC-40 finished 85.17 points lower at 5150.43.
London
Shares closed lower on Wednesday, dragged down by key earnings downgrades that pushed global markets into negative territory. The FT-SE 100 closed down 114.1 points, or 2 per cent, at 5614.
New York
Wall Street made an expected retreat, sending technology and blue-chips sliding on a mix of profit-taking and earnings warnings. The Nasdaq was thumped 118.13 points, or 6 per cent, to 1854.13. The Dow fell 162.19 points to 9785.35.
Johannesburg
Keen investor appetite for Anglo American and takeover target De Beers spiced up a bland Wednesday as angst over "new economy" stocks kept the market hamstrung. The All-share Index fell 30.8 points to 8402.1 points.
Auckland
The Top 40 Index was little changed, falling 0.02 per cent to 2037.33. Air New Zealand, the nation's largest airline, extended yesterday's plunge.
Tokyo
The Nikkei fell 693.15 points to 13,072.36. Japanese companies also declined after the government said industrial production had risen a seasonally adjusted 0.4 per cent last month.
Seoul
The Kospi lost 4.99 points to 523.8. Samsung Electronics, the biggest computer memory-chip maker, fell 1.5 per cent to 204,500 won.
Hong Kong
The Hang Seng fell 203.29 points to 12,648.13, its second decline in three days. CyberWorks plunged 12 per cent to $HK3.05, on course for its biggest drop in six months.
Manila
The PSE Composite Index lost 1.5 per cent to 1430.16 points as the central bank postponed further interest-rate cuts while waiting for signs that domestic inflation is slowing.
Jakarta
Indonesian stocks rose for a second day, led by PT Telekomunikasi Indonesia. The Composite Index rose 6.59 points, or 1.8 per cent, to 381.77.
Singapore
The Straits Times Index fell 21.18 points to 1633.14, its lowest since April 1999. Chartered Semi, the third-largest maker of chips to companies' designs, declined 7.9 per cent to $S4.20.
Bangkok
The SET Index fell 0.2 per cent to 286.62 points, led by Bangkok Bank and other lenders.
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