Asian
stocks fell for a second day as a retreat in global equities extended
after stocks tumbled in China, a plunge in Greek shares spread to the
rest of Europe and the yen jumped amid haven demand.
The
MSCI Asia Pacific Index dropped 0.6 percent to 138.87 as of 9:00 a.m.
in Tokyo after losing 0.3 percent the previous day. China shares tumbled
the most since 2009 yesterday after government moves to tighten lending
requirements sparked speculation over an economic slowdown. The Stoxx
Europe 600 Index sank 2.3 percent as a measure of Greek shares posted
its biggest drop in 27 years. The yen gained as much as 2.2 percent
against the dollar before paring its advance.
Japans
Topix index fell 1.1 percent after the yen rose versus all but one of
its 31 major peers yesterday. South Koreas Kospi index slipped 0.3
percent. Australias S&P/ASX 200 Index dropped 1 percent, while New
Zealands NZX 50 Index slid 0.5 percent.
Source: Bloomberg
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