U.S. Air Strikes Depress Asian Stock Markets
May 16, 2011
Tokyo stocks rose moderately after a volatile trading session, amid limited buying by domestic financial institutions. Hong Kong shares slipped as news of the U.S. attack affected the market. Australia shares fell, as investors responded to stronger-than-expected retail sales data. Taiwan stocks fell as investors were nervous about the possible implications of a U.S. attack on Iraq, which did not occur until after the market closed there. Philippines shares fell as investors worried that the weakening peso signaled a decline in the economy. South Korean share prices fell slightly ahead of the government's announcement that foreign stock ownership regulations will be eased in October. The markets in Malaysia, Indonesia, Singapore, and Thailand fell sharply when the attack was announced around the middle of their trading sessions. At the end of the trading day Tuesday in Asia, the Dow Jones China 88 Index lost 0.78 to 99.11, after rising 0.67 Monday. The Dow Jones Shanghai Index fell 0.73 to 102.86, after gaining 1.70 the previous day. The Dow Jones Shenzhen Index slipped 1.67 to 112.52, after falling 1.17 the previous day. In dollar terms, the Asian-Pacific sector of the Dow Jones World Stock Index rose 0.01 to 113.64 Tuesday, after falling 0.47 Monday. The world as a whole lost 0.09 to 136.78, after falling 0.19 the previous day. Oil-drilling and medical-device issues led the Dow Jones Industry Groups, while airline and lodging stocks were among the laggers. Asian Stock Market Indexes Market IndexSep. 3Change Australia
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