Asian Stock Prices Fall Sharply; Japan, South Korea Plummet
May 08, 2011
Japanese share prices plunged as declines in the market Friday carried over into the new session. In South Korea, the market reeled after a former president was sentenced to death, and several business leaders received jail terms for arranging slush funds with which to bribe political leaders. Australian stocks slipped after U.S. bond and equities markets lost ground. Thai shares fell on the day as worries about political instability in the country persisted. Singapore and Philippine shares also suffered losses. Malaysian stocks were mixed on light volume, largely driven by stocks not frequently traded. In Taiwan, shares bucked the trend and advanced slightly in light trading. Indonesian stock prices also posted marginal gains. In Hong Kong, markets were closed for a public holiday. The Dow Jones China 88 Index fell 3.03 to 91.70 Monday, after dropping 1.27 on Friday. The Dow Jones Shanghai Index declined 3.86 to 98.24, adding to Friday's loss of 1.36. The Dow Jones Shenzhen Index gave up 3.43 to 97.75, following Friday's 1.91 loss. In dollar terms, the Asian-Pacific sector of the Dow Jones World Stock Index fell 1.24 to 117.47, after rising 0.97 on Friday. The world as a whole lost 0.72 to 139.53, following Friday's gain of 0.23. Tobacco and casino shares led Dow Jones Global Industry Groups, while consolidated electronics and steel issues were among the laggers. Asian Stock Market Indexes Market Australia
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