Asian Markets Fall Sharply
Asian markets fell sharply Monday after Wall Street declined at the end of last week on renewed concerns about U.S. mortgage problems. European markets, however, were mixed in early morning trade.
"Basically, the subprime loan issue still drags on, and there is no prospect of what can end the problem," said Shinichi Ichikawa, chief strategist at Credit Suisse of the falls in Asian markets.
Major banks warned last week of further losses in their debt portfolios, raising investor concerns that the credit market slump isn't abating.
Japan's benchmark Nikkei 225 index fell 2.5 percent, and Hong Kong's Hang Seng dropped 3.9 percent. In South Korea, the Korea Composite Stock Price Index, or Kospi, fell 3.4 percent.
"Basically, the subprime loan issue still drags on, and there is no prospect of what can end the problem," said Shinichi Ichikawa, chief strategist at Credit Suisse of the falls in Asian markets.
Major banks warned last week of further losses in their debt portfolios, raising investor concerns that the credit market slump isn't abating.
Japan's benchmark Nikkei 225 index fell 2.5 percent, and Hong Kong's Hang Seng dropped 3.9 percent. In South Korea, the Korea Composite Stock Price Index, or Kospi, fell 3.4 percent.
Labels: Asian Markets, Asian stocks
posted by Stock Administrator @ 3:06 PM
0 Comments:
Post a Comment
<< Home