Asian Stocks Fall on Credit Concern; Hang Seng Index Slumps

[Roland99]

Source: Bloomberg

ct. 8 (Bloomberg) -- Asian stocks fell, sending Hong Kong's Hang Seng Index below 16,000 for the first time in two years, on concern the credit crisis will topple more banks and slowing growth will cut demand for the region's exports.

...

The MSCI Asia Pacific Index fell 3.7 percent to 95.07 as of 11:39 a.m. in Tokyo, bringing its decline this year to 40 percent. The measure is set for its lowest close since April 19, 2005. Financial stocks contributed the most to the index's drop.

The Hang Seng slumped 4.7 percent, leading declines in Asia, as Hong Kong's monetary authority cut interest rates to keep a credit crisis from spreading in the region.

Japan's Nikkei 225 Stock Average lost 4.5 percent to 9,696.12. Australia's S&P/ASX 200 Index declined 3.4 percent, set for the lowest close since November 2005, as consumer confidence fell this month by the most in more than two years.

Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aT2TAJ4AVc68&refer=home

[NeoConsSuck]

1. This is the fifth night in a row

you could have posted the same headline.

Remember the good ole days when we use to look at stock portfolios and they were green, not red?

[Doctor Cynic]

3. In Asia, Green = Down and Red = Up.

So all the screens over there are straight green right now. :P

[kirby]

2. I think McCain needs to suspend his campaign again! n/t

[xchrom]

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