Equity Alert: Key Asian mkts end dn; shipping, finance cos tumble
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Equity Alert: Key Asian mkts end dn; shipping, finance cos tumble
MUMBAI--3:30PM--Key Asian markets ended down for the fourth
straight session as uncertainty mounted about the fate of the U.S.
government's bank bailout plan.
Finance shares tumbled following the collapse of banking major
Washington Mutual as U.S. government ordered the bank's closure after
reports of insufficient liquidity.
China Merchants Bank fell 3%, while Mitsubishi Financial Corp
declined 4%.
Fall in Baltic Dry index dragged down shares of shipping
companies.
Mitsui O.S.K tumbled 6% and Kawasaki Kisen slumped over 7%.
.
Index Last level Change in %
Taiwan's Taiex 5929.63 (-)2.2
South Korea's Kospi 1476.33 (-)1.7
Hong Kong's Hang Seng 18682.09 (-)1.3
Singapore's Straits Times 2411.46 (-)1.3
Japan's Nikkei 11893.16 (-)0.9.
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