Taipei  - Taiwan stocks finished 3 per cent lower Tuesday as uncertainties over the island's and the global economy dampened investor sentiment, dealers said.

The benchmark Taiex index dropped 134.62 points, or 3.03 per cent, to close at 4,305.18.

Taiex opened sharply lower in reaction to Wall Street's overnight fall, caused by US banking giant Citigroup's announcement of massive lay-offs.

After a weak opening today, the 30-share index BSE Sensex continued to trade in the negative zone on the back of global worries, and lack of support at higher levels.

Heavy selling action was witnessed in banking, IT and power stocks.

BSE Midcap and Smallcap index shed 1.56% and 1.42% respectively.

As declining growth, massive job cuts, worries of a deep and prolonged recession in worldwide economies continue to disturb the outlook, the stock market, despite a few rallies here and there, has been fighting to make a headway for the last few months.

Tokyo  - Stocks closed lower Tuesday in Tokyo as overnight losses on Wall Street spurred concerns over a world recession.

The Nikkei 225 Stock Average lost 194.17 points, or 2.28 per cent, to close at 8,328.41.

The broader Topix index of all first-section issues was also down 15.05 points, or 1.77 per cent, to 835.44.

On currency markets at midday (0300 GMT), the dollar was quoted at 96.68-73 yen, down from Monday's 5 pm quote of 97.10-12 yen.

Sydney  - Fea

Manila  - Philippine share prices plunged 3.42 per cent on Tuesday on news of massive job cuts and more economies falling into recession due to the global slump.

The 30-share composite index of the Philippine Stock Exchange lost 66.40 points to close at 1,873.60, from Monday's finish of 1,940.00.

A total of 751.83 million shares worth 1.20 billion pesos (24.48 million dollars) were traded.

Losers led gainers 85 to 8, while 26 issues were unchanged.

Traders said investor sentiments were dampened by reports that Citigroup, the second largest US bank, cut 52,000 jobs in a bid to save itself.