Asian Stock Prices Tumble In Wake of Wall Street's Fall
March 28, 2011
Profit-taking by overseas investors and arbitrage-related selling left Tokyo stocks lower. The overnight losses on Wall Street sent Hong Kong stocks plunging more than 200 points at the opening, but the drop was curbed by bargain hunting later in the session. The reaction to Wall Street was blamed for declines on the bourses in the Philippines, Malaysia, Indonesia, Singapore and Thailand. Continuous selling by traders who had earlier bought shares on margin loan sent South Korean stocks lower. Taiwan share prices fell sharply, led by weak technology and financial issues following similar drops in U.S. markets. The Dow Jones China 88 Index rose 3.65 to 97.20 Tuesday, after rising 1.15 Monday. The Dow Jones Shanghai Index rose 4.68 to 105.87, after gaining 1.61 the previous day. The Dow Jones Shenzhen Index advanced 2.99 to 99.96, after rising 0.41 the previous day. In dollar terms, the Asian-Pacific sector of the Dow Jones World Stock Index fell 0.03 Tuesday to 117.75 after falling 0.16 Monday. The world as a whole dropped 0.79 to 134.29 after falling 0.46 Monday. Recreational-product and fishing issues led Dow Jones Global Industry Groups, while lodging and cable-broadcast issues were among the laggers. Asian Stock Market Indexes Market Australia
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