New Delhi - India's benchmark Sensex index fell 2.96 per cent in trading Thursday on heavy selling by funds and investors.

The National Stock Exchange (NSE) of India has been allowed for trading in currency future by the Security and Exchange Board of India. It will be the first exchange in India to start currency trading. NSE future trading is expected to launch on Aug 29.

In currency future trading, some recognized stock exchanges are allowed to buy or sell one currency against another on a specified future data. The price for future trading is fixed by selling or purchase of data. Only the firm USD-INR is covered under currency futures trade in India by the approval of RBI.

The contract for future trading would be worth $1,000 with the validity period of a month. The entire deal would be traded in Indian rupees at the reference rate of RBI on the last trading day.  

Hong Kong - Hong Kong stocks sank 2.5 per cent Thursday, wiping out the previous day's gains, after a speculated rescue package for China's economy failed to materialize.

The Hang Seng Index ended the day at 20,392, down 539 points. Turnover was 55.7 billion Hong Kong dollars (7 billion US dollars).

The fall more than reversed the gains of Wednesday and took the index back down to its lowest level in more than a year.

Analysts said the market fell after a rumoured 400-billion-yuan (58.43-million-dollar) boost to aid China's economy and stock market, which had fuelled Wednesday's gains, failed to materialize and pessimism set in again.

Tokyo - Tokyo stocks opened lower Thursday on lingering concerns over the outlook of the US and Japanese economies.

The Nikkei 225 Stock Average fell 44.56 points, or 0.35 per cent, to 12,807.13.

The broader Topix index of all first-section issues was also down 3.88 points, or 0.31 per cent, to 1,229.49.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 109.70-75 yen, down from Wednesday's 5 pm quote of 110.12-13 yen.

Washington - Major US stock indices improved on Wednesday on the back of gains in energy and metal shares, while new mortgage- market fears weighed heavily on financial institutions.

The price of crude oil inched upward 0.8 per cent to 115.47 dollars per barrel in New York trading, after Goldman Sachs Group Inc said it stood by a forecast that oil would climb back up to 149 dollars per barrel by the end of the year.

Hong Kong - Hong Kong stocks rebounded by 2.1 per cent Wednesday on hopes that China may announce a package to help the mainland economy.

The Hang Seng index closed at 20,931, up 446 on the previous day when the index fell to its lowest level in a year on continued pessimism over slowing economic growth.

Analysts attributed the rise Wednesday to hopes that China was planning a 400 billion yuan (58 billion dollars) boost to its economy to aid growth.

Turnover was 62.3 billion Hong Kong dollars (7.9 billion US dollars).