when the bail out plan needs to be bailed out

Asian stock markets plunged Monday as government bank bailouts in the U.S. and Europe failed to alleviate fears of a global financial crisis that would depress world economic growth.

Bangladesh Dhaka stock exchange above

Across Asia, all markets were in the red. Tokyo’s Nikkei 225 index fell to its lowest level in 4 1/2 years, sinking 4.25 percent to 10,473.09.

Hong Kong’s Hang Seng index slid 4.3 percent to 16,927.87. Markets in mainland China, Australia, South Korea, India, Singapore and Thailand also fell sharply.

In Russia, the RTS stock index tumbled more than 7 percent in first 20 minutes of trading.

"This credit crunch looks like it’s not going away any time soon," said Alex Tang, head of research at brokerage Core Pacific-Yamaichi in Hong Kong. "Apart from a credit crunch in Europe, investors are quite concerned about the worsening outlook on the U.S. economy."

Investors appeared spooked by a series of developments out of Europe over the weekend

Investors took scant comfort from Washington’s passage of a $700 billion bank bailout on Friday, focusing instead on a dismal U.S. jobs report that suggested the U.S. economy — a vital export market for Asia — could slide into a recession.


  • Reuters

    PRESS DIGEST-Australian Business News – Oct 3 – 2 Oct 2008

    PZ: Quote, Profile, Research, Stock Buzz) New Zealand-based Frucor Beverages business, leaving Coca Cola Amatil and overseas beverages groups in the race.

    Reuters – 2132 related articles »

    Australia Stocks Slump to 3-Year Low on Credit, Recession Fears – Bloomberg – 50 related articles »

  • Australian Stock Watch: australia stocks business news

    australia stocks business news. Dec. 13 (Bloomberg) — Australia’s benchmark stock index, the S&P … Bloomberg – 10 hours ago
    netmillionare.blogspot.com/2007/12/australiastocksbusiness-news.html – 220k – CachedSimilar pages

  • Finance, Business and Company News – Yahoo!7

    Australia stocks fall deepens on US bailout chaos financial firms could paralyse global lending and business prospects and fuel job losses, they said.
    au.biz.yahoo.com/080926/19/1yug0.html – 35k – CachedSimilar pages

  • The Sydney Morning Herald: national, world, business

    The Sydney Morning Herald: national, world, business, entertainment, fish stocks and marine ecosystems in the $2.1 billion Australia fishery and
    www.smh.com.au/news/environment/fish-stock-at-risk-in-climate-change/2008/10/05/1223145175347.html – 20 hours ago – Similar pages

  • The Age – Business News Index, for stock market and economic news

    The Age – Business News, World News & Breaking News in Australia 4:43pm | Stocks close at three-year low as gloom gathers about economic prospects

  • ~~ Stock Picks and Stuff from JJ ~~

    Leave a Reply

    Your email address will not be published. Required fields are marked *