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Global sell off drags Asian markets lower

19 Aug 2011 Evaluate

Bloodbath witnessed in Asian region and all the Asian equity indices shut shop in the red on last trading day of the week as renewed concerns the global economy will tip back into recession gripped investors. Indonesia's main stock market index tumbled about four and a half percent as big caps came under selling pressure amid fears about a possible US recession and financial problems for European banks. Moreover, South Korean Seoul Composite remained the biggest loser among the Asian peers, crumbled over six percent led by shipbuilders and chemicals while, Programme trading was suspended for five minutes from 0403 GMT. Blue chips fell across the board. Other major indices like Hang Seng and Nikkei 225 too butchered during the trade.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2,534.36

-25.11

-0.98

Hang Seng

19,399.92

-616.35

-3.08

Jakarta Composite

3842.75

-178.25

-4.43

KLSE Composite

1,483.98

-19.32

-1.29

Nikkei 225

8,719.24

-224.52

-2.51

Straits Times

2,733.63

-91.33

-3.23

Seoul Composite

1,744.88

-115.70

-6.22

Taiwan Weighted

7,342.96

-272.01

-3.57

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