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| Version 1 | Version 2 |
|---|---|
| Share prices fall on Asia markets | Share prices fall on Asia markets |
| (about 1 hour later) | |
| Share prices in the Far East have fallen more sharply amid continuing anxiety over world economic prospects and the US outlook in particular. | Share prices in the Far East have fallen more sharply amid continuing anxiety over world economic prospects and the US outlook in particular. |
| Falls of 3.7% in Tokyo, more than 3% in Hong Kong and 4% in Delhi come after losses on Wall Street on Friday. | |
| Analysts say dealers are cautious ahead of another meeting of the US central bank, the Federal Reserve. | Analysts say dealers are cautious ahead of another meeting of the US central bank, the Federal Reserve. |
| It is expected to agree on a further cut in interest rates in a bid to stave off recession. | It is expected to agree on a further cut in interest rates in a bid to stave off recession. |
| Despite the falls, the market mood seemed calmer after last week's ups and downs, Reuters news agency notes. | Despite the falls, the market mood seemed calmer after last week's ups and downs, Reuters news agency notes. |
| The week saw global equity markets brought down by growing despair over the US economy, only to be later lifted by a $150bn stimulus plan agreed between the US Congress and the Bush administration. | The week saw global equity markets brought down by growing despair over the US economy, only to be later lifted by a $150bn stimulus plan agreed between the US Congress and the Bush administration. |
| 'No appetite' | 'No appetite' |
| "The market appears to have hit bottom last week but it's still not in a position to keep rising, considering various events pending such as the Fed rate decision," said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments in Tokyo. | "The market appears to have hit bottom last week but it's still not in a position to keep rising, considering various events pending such as the Fed rate decision," said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments in Tokyo. |
| Francis Lun, general manager at Fulbright Securities in Hong Kong, argued that the market was "fluctuating wildly". | Francis Lun, general manager at Fulbright Securities in Hong Kong, argued that the market was "fluctuating wildly". |
| "Investors don't have the appetite to buy stocks now," he was quoted by AFP news agency as saying. | "Investors don't have the appetite to buy stocks now," he was quoted by AFP news agency as saying. |
| In Delhi, India's benchmark Sensex index fell 736 points, or 4%, in early trading. | In Delhi, India's benchmark Sensex index fell 736 points, or 4%, in early trading. |
| Shares on Seoul's market also slipped by about 2%. | Shares on Seoul's market also slipped by about 2%. |
| "Although aggressive US stimulus measures are likely to stabilise global financial markets, South Korea and its companies are still vulnerable to economic risks," said Lee Young-won, a strategist at Prudential Investment & Securities. | "Although aggressive US stimulus measures are likely to stabilise global financial markets, South Korea and its companies are still vulnerable to economic risks," said Lee Young-won, a strategist at Prudential Investment & Securities. |