Manila  - Philippine share prices plunged 3.45 per cent on Thursday, dragged down by Wall Street's overnight losses as investors braced for a prolonged economic slump.

The 30-share composite of the Philippine Stock Exchange lost 65.85 points to close at 1,842.33 from Wednesday's finish of 1,908.18.

A total 552.06 million shares worth 1.38 billion pesos (28.16 million dollars) were traded.

Losers led gainers 96 to 12, while 22 issues were unchanged.

Tokyo  - Japan's key Nikkei 225 Stock Average fell below the 8,000 line on Thursday on concerns over the US economy.

The Nikkei index tumbled 357.59 points, or 4.32 per cent, to 7,915.63.

The broader Topix index of all first-section issues also lost 31.55 points, or 3.81 per cent, to 795.88.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 95.92-97 yen, down from Wednesday's 5 pm quote of 96.73-75 yen.

Hong Kong  - Hong Kong stocks opened more than 5 per cent lower Thursday, joining a regional downward spiral in share prices following heavy overnight losses on Wall Street.

The blue-chip Hang Seng Index was down 690.71 points, or 5.39 per cent, in the first 10 minutes of trading Thursday, leaving the index at 12,125.09.

The losses come after the Dow Jones Index in the US fell 5 per cent overnight to close below 8,000 points, triggering falls in Asian markets including Australia, Japan and South Korea.

Wellington  - The New Zealan

New York  - US stocks slid more than 5 per cent on Wednesday, taking the Dow Jones Industrial Average below the 8,000 mark for the first time in five years, amid gloomy financial news and fear for US automakers.

The economic fears were fed by the release of minutes from the last Federal Reserve board meeting that showed members believe the US economy will contract between now and mid-2009, and suggested more interest rate cuts could be necessary. Other economic news showed US consumer prices fell 1 per cent in October, the largest one-month decrease since inflation prices started being published in 1947.