Most of the Asia-Pacific markets closed first session of new week with sour note, dragging the respective benchmark indices significant lower before finishing trade. Stocks opened lower in response to another decidedly negative session on Wall Street Friday and extended loosing throughout the day, registering fourth straight day of losing streak.
Financial markets remain under bearish grip amidst uncertainty about the global economic outlook. Fear of double-dip recession in the US, debt contagion in Europe and the health of the European banking system, and sign of slowing Chinese economy triggered panic selling for riskier assets, including equities, commodities, and higher yielding currencies.
The Tokyo sharemarket had fallen heavily, dragging the benchmark Nikkei Stock Average index reversed 1.04% down at 8,628.13 and the broader Topix index 1.18% lower at 742.84, registering fourth day of losing streak, on jitters about a potential global recession.
Among other Asia-Pacific bourses the Singapore's Straits Times index was down 0.25% at 2,726.85. The Stock Exchange of Thailand was down 0.66% at 1,062.09. South Korea KOSPI sank 1.96% to 1,710.70. The Taiwan TAIX Index was down 0.41% at 7,312.
No comments:
Post a Comment