Business | Markets
Asian stock markets take another fall
Share prices in Asia fell again on Monday amid renewed concerns of a US-led global economic slump.
- Agencies
- Published: 10:35 January 28, 2008
Hong Kong: Share prices in Asia fell again on Monday amid renewed concerns of a US-led global economic slump.
The Hong Kong market is down by nearly 5 per cent and around 8,000 points on its record high of almost 32,000 last year.
In India, the benchmark Sensex dropped 4.6 per cent in early trading, falling by 837 points.
Japanese stocks tumbled nearly 4 per cent, with the benchmark Nikkei average closed down 3.97 per cent after.
Analysts said continuing worries about the slowing US economy and any spillover effect in Asia would keep the markets volatile during the week.
They said dealers are cautious ahead of another meeting of the US central bank, the Federal Reserve, where a further cut in interest rates is expected.
More from Markets
More from Business
Business Editor's choice
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
-
Banks can increase their share
Longer opening hours, more locations outside cities and lower charges can help
-
Geepas idea blossomed in Dubai
The journey led from a small shop in Bahrain to a $1.27b company in the UAE
