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Asian markets plummet after Republican say no to Boehner plan
Concerns about the United States public debt cause a general decline in stocks. Tokyo looses 0.69%, following the collapse of shares in technology. Hong Kong and Shanghai fare no better.
Hong Kong (AsiaNews) - Asian markets have plummeted after the Republicans’ rejection House Speaker, John Boehner’s plan for a deal on the U.S. public debt.
In the afternoon (local time) Tokyo’s MSCI Asia-Pacific index lost 0.8%, led by technology stocks, after Ninet and Sony cut profit forecasts. The yen rose 0.3% to 77.46 per dollar while the euro lost 0.4% against the Swiss franc after the announcement by Moody's ratings of a possible downgrade for Spain.
At the end of trading in Tokyo, markets were down 0.69%, Hong Kong 0.48% and Seoul 1.02%. Still open, but on a negative trend Shanghai +0.26%, Taiwan -1.40%, Seoul -1.02%, Sydney, Australia -0.88%, -0.11% Mumbai, Singapore -0.02% , Bangkok -0.25% and Jakarta -0.87%.
In Tokyo, in particular, shares in the electronics sector were down such as Nintendo (-21%) and Sony (-3%). The technology sector also fared badly with TDK (-5.7%), penalized by the thud of the profits, and Taiwan Semiconductor Manufactorig (-1.4%)
A drop in futures forecast another difficult session for Wall Street, as has been the case now for four days.