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**qing02051981** · 27-11-2007, 10:44 AM

Asian stocks battered after Wall Street's plunge

SINGAPORE: Asian shares were sharply lower in early trade Tuesday, with Hong Kong's Hang Seng Index tumbling 3.30 percent in opening trade as a sell-off on Wall Street dampened regional market sentiment.

Singapore's Straits Times Index fell 2.1 percent in opening trade to 3,347.09 points, dragged down by DBS Group's 2.6 percent fall and a 2.1 percent decline in United Overseas Bank. The Singapore Exchange slipped 4.6 percent.

In Japan, Tokyo's benchmark Nikkei tumbled 2.12 percent or 320.34 points to 14,814.87 by the lunch break. The broader Topix index of all first-section shares fell 31.21 points or 2.13 percent to 1,435.82.

Exporters and banks such as Mizuho Financial Group were battered by heavy selling after the yen strengthened and Wall Street tumbled 1.83 percent as investors voiced fears that the housing slump and credit crunch could derail US economic growth.

Also taking the lead from US stocks were the Australian shares.

At 2330GMT, Australia's benchmark S&P/ASX 200 was down 117.5 points or 1.8 percent at 6,353.9 while the broader All Ordinaries index fell 111.8 points or 1.7 percent to 6,421.4.

"The market is getting belted around a bit today -- when you get a lead from the US like we did the market had only one way to go," said Michael Heffernan, a private client advisor at Austock.

Leading stocks including banks and BHP Billiton were under selling pressure following solid gains on Monday.

In South Korea, Seoul's KOSPI fell 47.21 points to 1808.12.

Overnight, the Dow Jones Industrial Average plunged 237.44 points as economists said the US consumer is being squeezed by falling house prices, tighter credit and spiking energy costs despite robust retail sales over the Thanksgiving holiday weekend. - CNA/ir

27-11-2007, 10:44 AM	#3 (permalink)
qing02051981 Addicted SGClubber Join Date: Dec 2006 Posts: 808 iTrader: (0) My Mood: Gender: Zodiac Sign: Country: Location: Simei SGC$: 585.90 Bank: 1,703.39 Total SGC$: 2,289.29	Re: Latest Stock News Asian stocks battered after Wall Street's plunge SINGAPORE: Asian shares were sharply lower in early trade Tuesday, with Hong Kong's Hang Seng Index tumbling 3.30 percent in opening trade as a sell-off on Wall Street dampened regional market sentiment. Singapore's Straits Times Index fell 2.1 percent in opening trade to 3,347.09 points, dragged down by DBS Group's 2.6 percent fall and a 2.1 percent decline in United Overseas Bank. The Singapore Exchange slipped 4.6 percent. In Japan, Tokyo's benchmark Nikkei tumbled 2.12 percent or 320.34 points to 14,814.87 by the lunch break. The broader Topix index of all first-section shares fell 31.21 points or 2.13 percent to 1,435.82. Exporters and banks such as Mizuho Financial Group were battered by heavy selling after the yen strengthened and Wall Street tumbled 1.83 percent as investors voiced fears that the housing slump and credit crunch could derail US economic growth. Also taking the lead from US stocks were the Australian shares. At 2330GMT, Australia's benchmark S&P/ASX 200 was down 117.5 points or 1.8 percent at 6,353.9 while the broader All Ordinaries index fell 111.8 points or 1.7 percent to 6,421.4. "The market is getting belted around a bit today -- when you get a lead from the US like we did the market had only one way to go," said Michael Heffernan, a private client advisor at Austock. Leading stocks including banks and BHP Billiton were under selling pressure following solid gains on Monday. In South Korea, Seoul's KOSPI fell 47.21 points to 1808.12. Overnight, the Dow Jones Industrial Average plunged 237.44 points as economists said the US consumer is being squeezed by falling house prices, tighter credit and spiking energy costs despite robust retail sales over the Thanksgiving holiday weekend. - CNA/ir Like Photography? Visit To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. Now! To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.