10 December 2016
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

  • mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato


    » 07/23/2012, 00.00

    ASIA

    Asian shares plunge because of a weaker euro and China



    The Euro is at its lowest point against the yen. Fears persist that Asian exports to Europe will drop further. China cuts growth forecast. For the Japanese government, the slowdown in the world economy becomes more widespread.

    Hong Kong (AsiaNews/Agencies) - Asian stock markets fell on Monday amid fears of the ongoing debt problems in the eurozone and slower Chinese growth forecast.

    Hong Kong's Hang Seng Index (HSI) fell 3 per cent, China's Shanghai Composite Index retreated 1.3 per cent, Japan's Nikkei 225 Stock Average declined 1.9 per cent whilst South Korea's Kospi Index (KOSPI) slid 1.8 per cent.

    The euro slipped to 94.73 yen after touching 94.63, the lowest in 12 years.

    Shares reflect the fragility of the eurozone, made worst by Spain's heavily indebted Valencia region, which asked the central government for financial help to avoid bankruptcy.

    The yield on Spanish 10-year bonds shot up above 7 per cent, a level that is untenable.

    The eurozone is a key market for Asian exports and there are concerns that demand from the region may decline in the near term.

    To the already difficult situation, the Japanese government added the opinion that the global economy is cooling.

    "The slowdown in the global economy is becoming more widespread," the Cabinet Office said in a monthly report released in Tokyo today.

    Song Guoqing, an academic member of a monetary policy committee with China's central bank, said that China's growth will slow down further.

    "The consensus is that China's economic growth rate will be close to 8 per cent in coming months, but I personally am more pessimistic because there are problems on the export side," Song said at a forum in Beijing on Saturday. In his view, China's growth may be 7.4 per cent.

    The end of the month should also see the release of US figures. All expectations are for slower growth.

    e-mail this to a friend Printable version










    See also

    13/11/2009 ASIA - USA
    Barack Obama's first time in Asia
    Eight-day trip from Tokyo to Singapore, from Shanghai to Beijing to Seoul. On the agenda: climate change, North Korea’s nuclear program, Iran, Afghanistan, and especially the economic crisis and the Yuan. Criticized by peace activists in Japan.

    20/06/2009 ASIA - UN
    FAO: hunger will hit a billion people, 642 million in the Asia-Pacific region
    The UN Food and Agriculture Organisation forecasts that in 2009, for the first time in history, a sixth of the global population will suffer from hunger. For the FAO director, Diouf, the phenomenon is caused by the “dangerous combination of the global economic recession and the persistent high prices of basic food items in many countries”.

    02/04/2009 ASIA - G20
    The G20 Summit opens to a chorus of requests and criticism
    The meeting begins at 8.30 (local time) with a working breakfast. It should conclude in the afternoon. An agreement on steps to counter the economic crisis already drafted. The unemployed, ecologists, communists and anarchists continue their protests. Yesterday a demonstrator died.

    13/12/2008 JAPAN - ASIA
    China, Japan, South Korea united against world economic crisis
    Fukuoka is hosting the first three-party summit of Asian countries. At the center of the talks is the global financial situation and the project of recapitalizing the Asian Development Bank, with the objective of helping the countries on the continent that are hardest hit by the crisis. Chinese leader expresses hope for joint response.

    19/02/2009 ASIA
    ILO forecasts loss of between 7 and 22 million Asian jobs in 2009
    The group warns about the risk of social protests, and advises governments to save the jobs and provide for the needs of the most vulnerable. But many say that the estimate is too optimistic: in China's Guangdong province alone, 20 million jobs were lost in the second quarter of 2008.



    Editor's choices

    IRAQ
    "Adopt a Christian from Mosul": A Christmas gift to survive winter

    Bernardo Cervellera

    As Iraqi troops advance in the Nineveh Plain and Mosul, a new wave of refugees could overshadow the fate of other refugees who found hospitality in Kurdistan. People need kerosene, winter clothes, aid for children, and money for rent. The campaign AsiaNews launched two years ago is more urgent than ever. Give up a superfluous gift to offer refugees an essential gift for life.


    IRAQ
    Pastor of Amadiya: Mosul’s Christian refugees, torn between emergency aid and the longing to return home

    P. Samir Youssef

    In a letter Fr. Samir Youssef describes the situation of refugees, exiled from their home for more than two years. They are closely following the offensive to retake Mosul, although their homes and churches "are for the most part" burned or destroyed. With the arrival of winter there is a serve lack of heating oil, clothes, food and money to pay for their children’s school bus. An appeal to continue to support the AsiaNews campaign.


    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®