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| Further falls in shares in Asia | |
| (about 3 hours later) | |
| Growing concerns about the state of the US economy have taken their toll on share prices in Asia. | Growing concerns about the state of the US economy have taken their toll on share prices in Asia. |
| Tokyo's Nikkei index closed down 250.7 points or 1.96% at 12,532.1, which was its lowest close since September 2005. | Tokyo's Nikkei index closed down 250.7 points or 1.96% at 12,532.1, which was its lowest close since September 2005. |
| The falls were sparked by US jobs figures on Friday, which showed the biggest monthly fall in employment for five years, and other gloomy US data. | The falls were sparked by US jobs figures on Friday, which showed the biggest monthly fall in employment for five years, and other gloomy US data. |
| European shares have not followed the Asian falls having already reacted to the US data on Friday. | European shares have not followed the Asian falls having already reacted to the US data on Friday. |
| As well as the Nikkei, other indexes in Asia were in negative territory. The stock market in Shanghai fell by 3.59% to a seven month low on continued inflation worries. | |
| Taiwan's benchmark Taiex index fell 2.7%, which was its biggest fall for six weeks. | Taiwan's benchmark Taiex index fell 2.7%, which was its biggest fall for six weeks. |
| Manila fell 4.0%, Seoul lost 2.3%, while Sydney's index fell 1.6% to lowest level since October 2006. | |
| Hong Kong's Hang Seng fell had fallen 1.5% by the end of the morning session but eventually closed up 0.9%. | Hong Kong's Hang Seng fell had fallen 1.5% by the end of the morning session but eventually closed up 0.9%. |
| 'Recession-like state' | 'Recession-like state' |
| Monday's falls added to hefty losses from Friday, when Japan's benchmark Nikkei-225 index closed 3.3% lower. | Monday's falls added to hefty losses from Friday, when Japan's benchmark Nikkei-225 index closed 3.3% lower. |
| "Japan's economy lacks a domestic driving force," said Tomoko Fujii at Bank of America. | "Japan's economy lacks a domestic driving force," said Tomoko Fujii at Bank of America. |
| "So a US recession-like state is boding ill for Japan's business cycle." | "So a US recession-like state is boding ill for Japan's business cycle." |
| The US dollar hit an eight-year low against the Japanese yen on Friday of 101.40 yen on expectations of further cuts in US interest rates. | The US dollar hit an eight-year low against the Japanese yen on Friday of 101.40 yen on expectations of further cuts in US interest rates. |
| Malaysian shares were suspended for an hour on Monday because the benchmark Kuala Lumpur Composite Index had fallen 10%. | Malaysian shares were suspended for an hour on Monday because the benchmark Kuala Lumpur Composite Index had fallen 10%. |
| The falls came after the ruling coalition lost its two-thirds parliamentary majority in its worst election performance for 50 years. | The falls came after the ruling coalition lost its two-thirds parliamentary majority in its worst election performance for 50 years. |
| Trading resumed later, and the stock market closed down 9.5%. |