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Asia extends global share slide | |
(about 2 hours later) | |
Asian shares ended lower on Friday, following big losses on Wall Street, after concerns about the health of the global economy worried investors. | |
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 15,300.22 - its lowest in two months. | |
The Japanese yen strengthened against the US dollar to 107.79, with the yen seen as a haven currency by investors. | |
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. |
In Hong Kong, the benchmark Hang Seng index closed down 445.99 points at 23,088.54. | |
As well as worries over global growth, there was also concern that demonstrations could restart after the government cancelled talks with pro-democracy protest leaders. | |
On the mainland, the Shanghai Composite ended the day down 0.6% at 2,374.54. | |
Miners hit | Miners hit |
In Australia, mining shares led the downward trend after China said it would levy import tariffs on coal and iron ore prices. | |
The S&P/ASX200 index ended the day down 108.43 points, more than 2%, at 5,188.25. | |
There was broad-based selling among mining stocks, with Rio Tinto and BHP Billiton both down by more than 2%. | |
South Korean shares resumed trading after being shut for a holiday on Thursday. The benchmark Kospi index closed down 1.2% at 1,940.92. | |