Stock Markets

Hong Kong stocks slump 4.5 per cent on gloomy news of mass layoffs

Hong Kong stock MarketHong Kong - Hong Kong stocks sunk 4.5 per cent lower Tuesday amid increasing pessimism sparked by news of layoffs in the financial sector.

The Hang Seng Index lost 613 points to close the day at 12,915. Turnover was 44.8 billion Hong Kong dollars (5.7 billion US dollar).

Analysts said investors were disheartened by news of job losses with the financial sector leading the fall.

Singapore stocks drop by 3 per cent

Singapore stocks drop by 3 per centSingapore - Singapore shares drop

Thai shares drop 3.28 per cent on Japan jitters

Thai shares drop 3.28 per cent on Japan jittersBangkok - Thai shares lost 3.28 per cent Tuesday on jitters from news of Japan's recession.

The Stock Exchange of Thailand (SET) index ended at 419.97, down 14.24 points, on 7.9 billion baht (229.7 million dollars) in transactions.

"The Thai market was following the Hong Kong and Tokyo bourses down," said Phuwadol Larpudomsuk, an analyst at Asia Plus Securities. "Investors are worried about the impact of recession in Japan on the region."

Shanghai shares plunge by 6.3 per cent

Shanghai shares plunge by 6.3 per centBeijing - China's main stock

Shares fall almost 4 per cent in Seoul

Shares fall almost 4 per cent in SeoulSeoul  - Shares nosedived

Taiwan stocks lose 3 per cent on economic pessimism

Taiwan stocks lose 3 per cent on economic pessimismTaipei  - Taiwan stocks finished 3 per cent lower Tuesday as uncertainties over the island's and the global economy dampened investor sentiment, dealers said.

The benchmark Taiex index dropped 134.62 points, or 3.03 per cent, to close at 4,305.18.

Taiex opened sharply lower in reaction to Wall Street's overnight fall, caused by US banking giant Citigroup's announcement of massive lay-offs.

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