Asian equity markets ended with grave losses on Monday ahead of a debt sale by France after Standard & Poor’s stripped the nation’s AAA rating and downgraded eight other European nations, stoking fears the region’s debt crisis may deteriorate. The rating cuts will keep market focus pinned on auctions, with France and Spain providing another key test of investor confidence this week, but also increase pressure for urgent policy responses from European leaders. Meanwhile, Japan’s Nikkei 225 Stock Average fell 1.4% even after a report showed the country’s machine orders in November jumped to the highest level since January 2008.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,220.10 | -24.48 | -1.09 |
Hang Seng | 19,012.20 | -192.22 | -1.00 |
Jakarta Composite | 3,898.92 | -36.41 | -0.93 |
Nikkei 225 | 8378.36 | -121.66 | -1.43 |
Straits Times | 2,751.39 | -40.15 | -1.44 |
Seoul Composite | 1,859.27 | -16.41 | -0.87 |
Taiwan Weighted | 7,103.62 | -77.92 | -1.09 |