Asia stocks dive on U.S. tumble
By Mariko Ando, CBS.MarketWatch.com
Last Update: 8:49 PM ET Aug 30, 2001
TOKYO (CBS.MW) -- Tokyo stocks tumbled more than 1 percent at the open of Friday trade, heading toward its fourth consecutive losing session.
Shortly after the open, the Nikkei Average dropped 1.25 percent, or 136.78 points, to 10,801.67. On Thursday, the index fell 0.38 percent to 10,938.45 - its lowest point in 17 years.
Friday morning, the broader Topix was down 1.09 percent at 1,102.40.
Market sentiment was further dampened by weakness on Wall Street, where the Dow fell below the key support level of 10,000 overnight for the first time since April. The Dow Industrials Average dropped 1.7 percent to 9,919.58, after falling as much as 220 points at its intraday nadir. The Nasdaq was slashed 2.79 percent.
Elsewhere in Asia Friday morning, South Korea's Kospi tumbled 2 percent to 553.02 and Australia's All Ordinaries Index fell 0.83 percent to 3,237.90 shortly after the open.
The dollar was quoted recently at 119.46 yen in early morning trade in Tokyo, down slightly from 119.37 yen in late Thursday in New York.
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