Asian stocks decline

Tokyo -- Japan's Nikkei index fell sharply after opening Friday, reflecting global concerns on the U.S. financial rescue package despite its passage by the U.S. Senate.

Other Asian markets also opened lower Friday, in step with the 348-point, or 3.22 percent, collapse of the Dow Jones Industrial Average on Wall Street at close the previous day, indicating the Senate-approve $700 billion bill had not allayed investor concerns.

Most Asian markets had closed lower Thursday.

The 225-stock Nikkei Stock Average slipped below the 11,000 mark after opening Friday. It pared some its losses subsequently and was trading at about 11,018, down 1.23 percent.

The last time the index closed below the 11,000 mark was in May 2005, Kyodo news service reported.

Adding to investor woes in Japan was the continuing sluggishness of the country's economy, which is heavily influenced by events in the United States.

Hong Kong's Hang Seng index was down nearly 367 points, or 2.01 percent, in early trading Friday.

Markets in Australia and South Korea also were trading lower.

Copyright 2008 by United Press International.