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Asian markets caught in global rout | Asian markets caught in global rout |
(about 2 hours later) | |
Asian markets headed lower on Tuesday as falling oil prices heightened global growth fears and weighed on investors' risk appetite. | Asian markets headed lower on Tuesday as falling oil prices heightened global growth fears and weighed on investors' risk appetite. |
Leading the losses, Japan's benchmark Nikkei 225 lost 2% to close at its lowest level since 31 October. | Leading the losses, Japan's benchmark Nikkei 225 lost 2% to close at its lowest level since 31 October. |
The index was at 16,755.32, while the dollar was at 117.42 yen against 117.81 yen in New York trading. | The index was at 16,755.32, while the dollar was at 117.42 yen against 117.81 yen in New York trading. |
Data showing China's manufacturing activity contracting in December weighed on shares in Hong Kong. | Data showing China's manufacturing activity contracting in December weighed on shares in Hong Kong. |
The HSBC/Markit manufacturing purchasing managers' index initial reading fell to 49.5 in December from November's final reading of 50. | The HSBC/Markit manufacturing purchasing managers' index initial reading fell to 49.5 in December from November's final reading of 50. |
The Hang Seng index closed down 1.6% at 22,670.50, although the Shanghai Composite bucked the trend to rise above the 3,000 milestone and close at its highest since April 2011. | |
The mainland index was up 2.3% to 3,021.52, showing a growing disconnect in sentiment between the two benchmarks. | |
Construction stocks got a boost after the country's top economic planning agency gave approval to plans for a second international airport in the capital Beijing. | Construction stocks got a boost after the country's top economic planning agency gave approval to plans for a second international airport in the capital Beijing. |
The expansion will cost $12.9bn (£8.2bn) and is aimed at easing air traffic congestion at the capital's main airport. | |
Shares in China State Construction Engineering rose 0.5%. | |
In Australia, shares closed at a 10-month low as falling commodity dragged down resources stocks. | In Australia, shares closed at a 10-month low as falling commodity dragged down resources stocks. |
The benchmark S&P/ASX 200 was down 0.7% to 5,152.3 - its lowest close since 6 February. It also marked the sixth consecutive session of declines. | The benchmark S&P/ASX 200 was down 0.7% to 5,152.3 - its lowest close since 6 February. It also marked the sixth consecutive session of declines. |
South Korean shares fell, closing just above a two-month low. The Kospi ended down 0.2% at 1,904.13 points. | South Korean shares fell, closing just above a two-month low. The Kospi ended down 0.2% at 1,904.13 points. |