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  • » 10/15/2008, 00.00

    ASIA

    Asian markets lower on recession fears



    Only Tokyo closes higher, all the other markets are negative. Although the financial crisis seems to have passed, economic problems remain.

    Hong Kong (AsiaNews/Agencies) - Asian stock markets headed lower today, with Tokyo the only exchange higher at the close. According to analysts, although the financial crisis seems to have been overcome, there are fears of a general recession.

    Tokyo closed with a gain of almost 1.1%, after a seesaw opening. Markets in Hong Kong, Shanghai, Seoul, Taiwan, and Australia were negative. Shanghai closed down by 1.12%; Hong Kong fell by 4.96%. In recent days, it had risen by almost 14%.

    Sydney lost 0.9%; New Zealand fell by 1.5%; Seoul by 2%; Taipei by 0.86%.

    At midday, Singapore was at -2.2%; Bangkok increased by 0.23%, after opening negative.

    World governments - including those in Asia - have flooded the market with cash to overcome the financial crisis, but according to some experts, investors are concerned about the situation of the global economy and of the high probability of lower corporate profits because of weak consumption.

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