newsbytes@clarinet.com (01/14/90)
CENTRAL, HONG KONG, 1990 JAN 12 (NB) -- Asian markets closed sharply lower following the lead set by European and US markets this week. Hong Kong's Hang Seng index closed down 19.59 points to end the week at 2836.94. On Friday, HKG$ 578 million worth of shares changed hands, down from Thursday's figure of HKG$ 649 million. Tokyo followed suit with the Nikkei Dow closing sharply down at 37,516.77 points - a drop of 653.36 points on the week. The Tokyo Stock Exchange Index (TSEI), which had gained 20 points on Thursday, plummeted 27/66 points on Friday points to end the week at 2786.47. In Singapore, the Straits Time Industrial Index (STII) closed down 6.9 points, finishing the week at 1559.17. Singapore Airlines and Development Bank of Singapore led the stocks. Technology shares, meanwhile, remained relatively unchanged. Unexpectedly, the Australian stock market did not follow the end of the week's downward trend. Instead, the Sydney stock market closed the week on 1713.7 points - up 17.8 points on the week, after Gold climbed $15 in price. (Peter Vekinis/19900113)