Asian stocks were trading lower on Thursday due to weak market sentiment. Technical Analysts blame global slowdown for the recent drop in stock markets.

Washington - Uncertainty prevailed on the US stock market Wednesday as a drop in commodity prices put pressure on metals producers and technology shares dropped on dismal earnings reports.

General Motors Corp led a rise in the Dow Jones Industrial Average after reporting better-than-expected domestic sales in August, but other major stock indices fell on the day.

Mining firms Newmont Mining Co and Freeport-McMoRan Copper & Gold Inc dropped as the gold price hit a two-week low.

State Bank of Bikaner & Jaipur has fixed October 20 as the record date for the purpose of sub-division/stock split of Rs 100 per share of the bank into the shares of Rs 10 each.

Hong Kong - Hong Kong stocks fell more than 2 per cent Wednesday, sliding toward the 20,000 mark as oil and commodities stocks fell along with the prices of those goods.

The Hang Seng Index ended the day down 457.4 points, or 2.17 per cent, at 20,585.06. Turnover was relatively light at 56 billion Hong Kong dollars (7.1 billion US dollars).

Hong Kong shares have shed more than a third of their value in a 10-month bear run since the Hang Seng peaked at almost 32,000 at the end of October.

Stock market analyst Vishwas Agarwal said that the stock market is in safety zone above 14,786 level for traders with a target of 15,350, 15,555 and 15,786.

Regarding NSG meeting on nuclear contract to be held on September 4 and 5, Mr. Vishwas said that if the contract goes through, then the previously said level of 15,786 will be accomplished easily.

Seoul - The South Korean won was briefly lifted against the US dollar in morning trade on Wednesday, apparently due to suspected dollar-selling intervention by the government.

The slide was temporarily stopped after the South Korean currency fell to a session low of 1,159 won at one point late Wednesday morning. It is suspected that earlier losses were cut as foreign exchange authorities poured in an estimated 1.5 billion dollars.