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US Woes Send Asian Stocks Tumbling

Nikkei, Hang Seng have their worst day in weeks

By Jason Farago,  Newser Staff

Posted Jun 23, 2009 5:43 AM CDT
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(Newser) – Stocks in Asia tumbled to their worst finish in weeks, reports the Wall Street Journal, as continued fears about the US economy led to a sell-off of resource companies and exporters. The Nikkei in Tokyo and the Hang Seng in Hong Kong both closed down about 3%, echoing a decline on Wall Street yesterday. "Any Asian companies that depend on Americans for a big chunk of their sales need to prepare for lots of red ink," said one market watcher.

Japanese shares sagged Tuesday after losses overnight on Wall Street while investors looked to the Federal Reserve's upcoming policy meeting for fresh cues on the global economy.
Japanese shares sagged Tuesday after losses overnight on Wall Street while investors looked to the Federal Reserve's upcoming policy meeting for fresh cues on the global economy.   (AP Photo/Shizuo Kambayashi)
The 225-issue Nikkei Stock Average lost over 3 percent in the morning session, although it recovered slightly before closing.
The 225-issue Nikkei Stock Average lost over 3 percent in the morning session, although it recovered slightly before closing.   (AP Photo/Koji Sasahara)
Japan's benchmark Nikkei 225 stock average ended down 2.8%, or 276.66, at 9,549.61.
Japan's benchmark Nikkei 225 stock average ended down 2.8%, or 276.66, at 9,549.61.   (AP Photo/Shizuo Kambayashi)
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COMMENTS
Showing 1 of 1 comment
Derni
Jun 23, 2009 2:32 AM CDT
not good
Money • World

 
financial markets • Nikkei • Hang Seng • Asian markets • Asian stocks

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