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July 13, 2001
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Money > Business Headlines > Report July 13, 2001 |
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Sensex fall third biggest in Asia during 2001B G Shirsat The Indian stock market as indicated by the 30-scrip Bombay Stock Exchange Sensex has registered the third-largest fall in calendar 2001 compared with other Asian bourses. The benchmark index has declined by 13.14 per cent between December 30, 2000 and July 12, 2001. Hong Kong tops the list with a drop of 16.13 per cent followed by Singapore with 13.18 per cent. Analysts attribute the drop in the Sensex to the continuous abysmal valuation of technology stocks and introduction of rolling settlement. Only five stock markets have thus far registered a positive growth, which includes three Asian markets and the other two being Australia and New Zealand. Thailand and South Korea bourses lead the race with a double-digit rise in market capitalisation. Thailand tops the table with a 17.02 per cent rise in its SET Index (Stock Exchange of Thailand), while the KOSPI (Korea Composite Stock Price Index) of South Korea rose by 10.96 per cent. New Zealand ranks third with a 8.82 per cent gain, while Indonesia comes fourth with 6.04 per cent. The Australian ordinary index, which gained 5.80 per cent, stood fifth. Hong Kong's HSI (Hang Seng Index) declined by 16.13 per cent from 15,095.53 on December 29, 2000 to 12,660.20 on July 12, 2001. Singapore's STI (Straits Times Index) declined by 13.18 per cent from 1926.83 to 1672.81. The fall in these Asian markets attributed to high proportions of interest-rate sensitive stocks in both markets. Nearly 72 per cent of the index of Hong Kong and 49 per cent of Singapore, measured by market capitalisation, is made up of finance and real-estate stocks. Financial stocks as a group have not done well this year. The tech-heavy Nasdaq continued to reel under the information, communication and entertainment meltdown with the Nasdaq Composite Index registering the single largest fall of 20.18 per cent. The French CAC 40 is the second largest loser with fall of 16.19 per cent. Dow Jones of US is 11th among all losers with 5.06 per cent fall. Powered by YOU MAY ALSO WANT TO READ:
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