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» 09/23/2008 09:29
ASIA
Concerns over US plan: Asian markets drop
Following recent gains, markets are down again by an average 2%. Doubts over the bail-out plan. The price of oil and gold climb.

Hong Kong (AsiaNews) – By mid morning Asian stock markets were down, marked by concerns that the United States financial bail out plan will not arrive in time.

This morning the Hong Kong stock exchange was at minus 2.7%; Shanghai was down by 1%; other markets showed a similar trend.  Tokyo’s stock exchange is closed for a national holiday.

Yesterday the New York stock exchange closed down 3.3%, following recent gains, thanks to the US Treasury’s bail-out plan of over 700 billion dollars.  The plan however has yet to be approved by Congress, and politicians have been expressing their doubts.  

While stocks continue to lose value, the price of oil and gold is on the rise.  Yesterday gold was at 901.9 US dollars, after having reached a high of 908.8 during the day’s trading, its highest point since August.  Yesterday the price of petrol (referring to October) registered it sharpest increase in one single day, reaching 120 dollars a barrel.  Forecasts for November foresee a drop in prices.


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See also
11/10/2008 ASIA
Asian markets rally in wake of Beijing rescue plan
06/27/2008 ASIA
Hong Kong, Shanghai, Tokyo, stock markets fall due to oil prices and credit crises
09/25/2008 ASIA
Markets drift lower ahead of decision from Washington
02/24/2009 ASIA
Asian markets plummet. For many the recession has arrived
12/12/2008 ASIA
Asian stock markets slump over fears for auto industry
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