TOKYO -- Asian equity markets closed lower Tuesday, amid continuing concern over events in the Middle East and a renewed bout of weakness for the region's technology shares.
In Tokyo, the
closed down 172.1, or 1.1%, at 15,340.2 and the
index, which includes all shares listed on the
Tokyo Stock Exchange
, fell 13.3, or 0.9%, to end the day at 1438.2. Japanese tech shares, which had received a bounce from a surging
Nasdaq Composite Index
last week, quickly had the wind drawn from their sails after the index
fell 30 yen, or 1.3%, to 2,245 ($20.76),
dropped 70 yen, or 3.1%, to 2,220 and
closed down 13 yen, or 1.3%, to 983.
Telcos, however, were able to detach themselves from the tech gloom, as
Nippon Telegraph & Telephone
rose 10,000 yen, or 0.9%, to 1.1 million and wireless operator
closed up 10,000 yen, or 0.3%, to 3.18 million.
The dollar was trading higher at 108.15 yen from 107.85 yen Monday.
Elsewhere, South Korea's stock market got hammered as
plummeted nearly 15%, after reporting third-quarter earnings. The
index tanked 37.3, or 6.8%, to 512.9. In Hong Kong, the
index fell 99.9, or 0.7%, to 14,873.4, as
fell HK$0.50, or 1%, to 50.75 ($6.51).
Taiwan's stock market continued to play the black sheep by moving in the opposite direction from the rest of the region. The
index closed up 71.4, or 1.3%, at 5702.4, as the government supported the markets with its $16 billion stabilization fund.