Asian stocks plummet as Credit crises spread throughout Europe

All the Asian markets ended day’s trade in negative territory due to low global growth prospect  and increasing tension of the Euro zone debt crisis that is spreading across  southern Europe. The demand for the US dollar raised against the other major currencies as investor’s rushed to invest their money in the safe heaven. Demand for Commodities increased as oil, grain and corn outperform.

The MSCI across the Asia Pacific fell to 0.6 percent MSCIs broadest index of Asia-Pacific shares outside Japan fell 0.6 percent, while Kospi losing more than 1 percent .Mainland China's Shanghai Composite Index fell as did benchmarks in Singapore and Taiwan.

The only index in green was KLSA Composite which was up to 0.05 per cent at the time of the close.