30 April 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

    VATICAN
    Pope Francis tells young people that “genuine love” is not a “soap opera”, but Christians’ real identity card



    In his homily for the Jubilee of Teens, Pope Francis asked questions and gave answers to the 70,000 present. Stressing the great ideal of love as giving oneself “without being possessive”, he noted that freedom is “being able to choose the good”. He warned young people “who dare not dream,” telling them that “If you do not dream at your age, you are already ready for retirement”. He also received funds raised for the Ukraine, and appealed for the release of bishops and the priests held in Syria.


    IRAN
    Odd alliance between the US and Iranian fundamentalists

    Bernardo Cervellera

    Washington is still preventing the use of US dollars in transactions with Iranian banks, preventing business with the outside world in spite of the nuclear deal. This way, the US is helping Khamenei and the Revolutionary Guards, who want to torpedo the agreement in order to maintain their hold on power. Meanwhile, most Iranians hold down two or three jobs just to make ends meet. An unstable and bellicose Iran is a boon for arms sales. A report follows.


    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®