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Asia shares extend global market selloff | Asia shares extend global market selloff |
(about 5 hours later) | |
Asian shares are trading in negative territory after concerns about the global economy spurred a steep slide in stock prices on Wall Street. | Asian shares are trading in negative territory after concerns about the global economy spurred a steep slide in stock prices on Wall Street. |
US stocks marked their worst decline this year after the head of Europe's central bank said the region's economic recovery may be losing momentum. | US stocks marked their worst decline this year after the head of Europe's central bank said the region's economic recovery may be losing momentum. |
In Japan, the Nikkei 225 fell 1.2% to its lowest in two months. | |
The Japanese yen strengthened against the US dollar to 107.79 as investors bought into safe haven currencies. | |
Investors were also concerned by weak trade data from Germany, which raised fears of a recession in Europe's largest economy. | Investors were also concerned by weak trade data from Germany, which raised fears of a recession in Europe's largest economy. |
Its exports fell 5.8% in August, the worst decline since January 2009, data showed on Thursday. | Its exports fell 5.8% in August, the worst decline since January 2009, data showed on Thursday. |
Over in Hong Kong, shares fell more than 1.4% at the open after the government cancelled talks with pro-democracy protest leaders, who are now calling for more street rallies. | Over in Hong Kong, shares fell more than 1.4% at the open after the government cancelled talks with pro-democracy protest leaders, who are now calling for more street rallies. |
The benchmark Hang Seng index lost 335.73 points to 23,198.80. | The benchmark Hang Seng index lost 335.73 points to 23,198.80. |
On the mainland, the Shanghai Composite fell 0.5% to 2,377.76 ahead of Chinese credit data due later in the day. | On the mainland, the Shanghai Composite fell 0.5% to 2,377.76 ahead of Chinese credit data due later in the day. |
Miners hit | Miners hit |
In Australia, mining shares lead the downward trend after China said it will levy import tariffs on coal and iron ore prices continued to decline. | In Australia, mining shares lead the downward trend after China said it will levy import tariffs on coal and iron ore prices continued to decline. |
The S&P/ASX200 index was down 2.5% to eight-month lows. | |
There was broad-based selling among mining stocks with Rio Tinto down 3% and BHP Billiton lower 2.7%. | |
South Korean shares resumed trade today after being shut for a holiday on Thursday. The benchmark Kospi index was down 0.9% at 1,948.1 points by mid-morning. | South Korean shares resumed trade today after being shut for a holiday on Thursday. The benchmark Kospi index was down 0.9% at 1,948.1 points by mid-morning. |
Taiwan's stock market is closed today. | Taiwan's stock market is closed today. |