19 November 2017
AsiaNews.it Twitter AsiaNews.it Facebook
Geographic areas




  • > Africa
  • > Central Asia
  • > Europe
  • > Middle East
  • > Nord America
  • > North Asia
  • > South Asia
  • > South East Asia
  • > South West Asia
  • > Sud America
  • > East Asia


  • » 10/06/2008, 00.00

    ASIA

    Asian markets still in negative zone, fear spreads



    All Asian exchanges lose ground. US and European rescue plans do not remove concern over a worldwide economic crisis.
    Hong Kong (AsiaNews/Agencies) – Asian markets continue to plunge. Despite Washington's US$ 700 billion bank rescue plan investors fear an overall slowdown of the economy. Meanwhile the financial crisis reaches Europe.

    Hong Kong’s exchange was down 3.4 per cent. Shanghai, which reopened today after a week break, dropped 3.5 per cent despite regulators’ attempts to support the market. Japan's Nikkei stock average plunged 5 per cent by mid-morning. Markets in South Korea, Singapore and Thailand also fell sharply. Indonesia's key index plunged more than 5 percent.

    Germany's announcement Sunday of a rescue package for Hypo Real Estate, the country's second-biggest commercial property lender, is good news but also a sign that Europe too is having to prop up the financial sector.

    Similar problems are affecting banks in the United Kingdom, Belgium and France.

    European leaders pledged action to avoid financial chaos, but fears remain that consumption in the United States and Europe will drop, causing a slowdown in the world economy.

    According to some analysts the US rescue plan is coming too late since the country’s economy is already in a recession.

    Last month alone the US lost 150,000 jobs.

    e-mail this to a friend Printable version










    See also

    01/10/2008 ASIA – UNITED STATES
    Small rise but lots of gloom on Asian markets
    Tokyo’s stock exchange gains 1 per cent but confidence levels plunge, sign of a gloomy mood. Everyone is waiting for US Senate to vote on a new financial rescue plan, but US public opinion wants offending banks to foot the bill. Economists tell government not to intervene in markets.

    02/10/2008 ASIA
    US Senate vote unconvincing for Asian markets
    Stock exchanges are down. Uncertainty persists over vote in US House of Representatives. Economists view plan as trivial compared to the enormity of the crisis, a temporary panacea that will not solve the underlying problems.

    10/06/2010 ASIA
    The world’s economic crisis, the real global warming
    There are many signs that the crisis is far from over. Europe is on the frontline, busy trying to save the euro. Things are worse in North America, but Asia too is on shaky grounds. In China, the situation is far different from that of a country with a stable growth rate as is usually said.

    22/10/2008 ASIA
    Asian markets fall again with Tokyo losing 5 per cent and Seoul 8 per cent
    The crisis is no longer only financial as fears of recession rise. Only 3 per cent of US companies show positive quarterly results. Lower US demand is putting pressure on Japanese and Chinese exports.

    30/10/2008 ASIA
    Asian markets up but recession fears remain
    All stock exchanges gain ground thanks to lower interest rates. Even Tokyo is considering cutting its interest rate.



    Editor's choices

    HONG KONG - CHINA - VATICAN
    Mass for a deceased underground priest. Card. Zen asks for God ‘s grace to save the Church in China and the Holy See from the 'precipice'

    Li Yuan

    Fr. Wei Heping, 41, died in mysterious circumstances, his body dumped in a river in Taiyuan (Shanxi). For the police claim he committed suicide. Family members are not allowed to even see the autopsy report. For Card. Zen the Holy See (which "is not necessarily the Pope") seeks a compromise at all costs with the Chinese government, risking "to sell out the faithful Church". Justice and Peace publish a booklet about Fr. Wei, not to forget.


    VATICAN - ITALY
    Pope: No more war, its only fruit is death, 'our self-destruction'



    Marking the Feast of All Souls, Francis celebrated Mass at the American Cemetery in Nettuno. "When so many times in history men think of a war, they are convinced of bringing a new world, they are convinced of making a 'spring'. It ends in a winter, ugly, cruel, with the reign of terror and death."


    AsiaNews IS ALSO A MONTHLY!

    AsiaNews monthly magazine (in Italian) is free.
     

    SUBSCRIBE NOW

    News feed

    Canale RSScanale RSS 

    Add to Google









     

    IRAN 2016 Banner

    2003 © All rights reserved - AsiaNews C.F. e P.Iva: 00889190153 - GLACOM®