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| Version 1 | Version 2 |
|---|---|
| Asian stocks rattled by US falls | Asian stocks rattled by US falls |
| (about 1 hour later) | |
| Asian stocks fell sharply on Tuesday amid renewed fears over the health of the global financial sector and after US stocks hit a near 12-year low. | Asian stocks fell sharply on Tuesday amid renewed fears over the health of the global financial sector and after US stocks hit a near 12-year low. |
| Japan's Nikkei index closed down 1.46%, the Hong Kong index closed down 2.9% and the Shanghai index fell 4.3%. | Japan's Nikkei index closed down 1.46%, the Hong Kong index closed down 2.9% and the Shanghai index fell 4.3%. |
| South Korean Kospi share index dropped 3.2%, while indexes in Singapore and Taiwan shed more than 1%. | |
| Most Asian indexes had risen on Monday on hopes the US government was to increase its stake in Citigroup. | Most Asian indexes had risen on Monday on hopes the US government was to increase its stake in Citigroup. |
| However, no formal move was made. US regulators said they were considering boosting government ownership in financial institutions, but without going all the way and nationalising them. | However, no formal move was made. US regulators said they were considering boosting government ownership in financial institutions, but without going all the way and nationalising them. |
| On Monday in the US, the Dow Jones Industrial Average closed down 250.9 points, or 3.4%, at 7,114.8, its lowest level since October 1997. | On Monday in the US, the Dow Jones Industrial Average closed down 250.9 points, or 3.4%, at 7,114.8, its lowest level since October 1997. |
| The tech-heavy Nasdaq index closed down 3.7%, while the Standard & Poor's 500 index fell 3.5% to 743.33, its lowest finish since 11 April, 1997. | The tech-heavy Nasdaq index closed down 3.7%, while the Standard & Poor's 500 index fell 3.5% to 743.33, its lowest finish since 11 April, 1997. |
| No end in sight? | No end in sight? |
| "Investors are just selling out in disgust across the board - disgust with the market, disgust with the financial problems," said Lorraine Tan, director of equities research at Standard & Poor's in Singapore. | "Investors are just selling out in disgust across the board - disgust with the market, disgust with the financial problems," said Lorraine Tan, director of equities research at Standard & Poor's in Singapore. |
| "The government seems to keep throwing in money, but there doesn't seem to be any end to the declines or solutions to the problems," she said. | "The government seems to keep throwing in money, but there doesn't seem to be any end to the declines or solutions to the problems," she said. |
| The Shanghai benchmark index fell as China's central bank said the country's economic downturn could worsen. | The Shanghai benchmark index fell as China's central bank said the country's economic downturn could worsen. |
| Meanwhile the index of Asia-Pacific stocks outside Japan, the MSCI, also fell, by 2.3%. And Australia's stock market was also down, by 0.6%. The Indian Sensex was down slightly, by 0.24%. | |
| Among Asian financial shares, Nomura Holdings, Japan's biggest broker, lost 9.3% after announcing plans to raise $3.3bn. | Among Asian financial shares, Nomura Holdings, Japan's biggest broker, lost 9.3% after announcing plans to raise $3.3bn. |
| Also in Japan, finance minister Kaoru Yosano said the government would consider a call to buy shares directly to support the stock market, which fell to near 26-year lows on Tuesday. | Also in Japan, finance minister Kaoru Yosano said the government would consider a call to buy shares directly to support the stock market, which fell to near 26-year lows on Tuesday. |