Seoul - Shares closed more than 3 per cent lower Wednesday on the Seoul stock exchange on rumors that South Korea may apply for bail-out funds by the International Monetary Fund (IMF). The South Korean authorities denied the market rumors.
The benchmark Kospi index plunged 30.19 points, or 3.02 per cent, to close at 968.97, giving up earlier gains.
Declining issues outnumbered advancers 526 to 320.
The main index of the technology-heavy Kosdaq market declined 6.84 points to 265.59.
Tokyo - Sony Corp saw its net profit plunge 71.8 per cent in the second quarter as demand for consumer electronics slowed and the yen's value rose against other major currencies, the company said Wednesday.
The Japanese electronics company reported a net profit of 20.8 billion yen (219.84 million dollars) in the July-September quarter, compared to 73.7 billion yen a year before.
Operating profit also tumbled 90.1 per cent to 11 billion from 111.6 billion yen during the second quarter a year earlier, and sales dipped 0.5 per cent to 2.07 trillion yen from 2.08 trillion yen, the company said.
For the first half of the business year, which starts in April, Sony saw its net profit tumble 60.2 per cent year-on-year to 55.79 billion yen.
Paris - The European Union is extending a loan of 6.5 billion euros (8.25 billion dollars) to Hungary to give the country added liquidity in the face of the economic crisis, French Finance Minister Christine Lagarde said on Wednesday.
France currently holds the EU presidency, and Lagarde chairs the council of EU finance ministers.
Washington, October 29: A court in Los Angeles has granted Britney Spears’ attorney request to remain under permanent conservatorship until the singer recovers completely.
Following the 26-year-old’s tumble down the agony road, her father Jamie Spears had taken control over her assets, estates and business affairs, reports TMZ.
With the new order, dad Spears is now set to have a long-term hold on Britney’s fortune while her mental health will be under close supervision of the experts.
Taipei - Taiwan's Defence Minister Chen Chao-ming Wednesday said the military opposes opening the restricted air zone to allow cross-strait flights, during the second round of Taiwan-China talks in Taipei to begin next Monday.
"The air space in Taiwan is very small, and it is absolutely impossible for us to allow cross-strait planes to fly through our R8 zone," General Chen said in a parliament session in Taipei.
The R8 zone is one of the military's five strategic flight zones off-limits to civilian aircraft. It is located near the median of the Taiwan Strait, which provides the shortest distance in flights between Taiwan and China.
Seoul - Shares closed more than 3 per cent lower Wednesday on the Seoul stock exchange on rumors that South Korea may apply for bail-out funds by the International Monetary Fund (IMF). The South Korean authorities denied the market rumors.
Paris - The European Union is extending a loan of 6.5 billion euros (8.25 billion dollars) to Hungary to give the country added liquidity in the face of the economic crisis, French Finance Minister Christine Lagarde said on Wednesday.
Washington, October 29: A court in Los Angeles has granted Britney Spears’ attorney request to remain under permanent conservatorship until the singer recovers completely.
