Asian stocks down on Europe's debt worries
Friday, 1 October 2010
TOKYO, Sept 30 (AP): Asian stock markets fell Thursday as massive street protests across Europe against austerity measures raised concern over the region's ability to slash debt.
Japan's benchmark Nikkei 225 stock average slipped 64.71 points, or 0.7 per cent, to 9,494.67. Sentiment in Tokyo was also sluggish as Japan's industrial production fell for the third straight month in August.
Hong Kong's Hang Seng index fell 155.12 points, or 0.7 per cent, to 22,227.06 while South Korea's Kospi was down 0.1 per cent at 1,864.13.
Tens of thousands of workers marched through the streets of Europe Wednesday, decrying the loss of jobs and benefits they fear will come with stinging austerity measures seeking to contain government debt.
Unions claimed a crowd of 100,000 marched on European Union headquarters in Brussels.
The massive street protests raised worries that European countries including heavily indebted nations like Ireland, Greece and Spain may not be able to implement tough deficit-cutting measures.
Concerns over Europe's debt problems also dampened sentiment on Wall Street.
The Dow Jones industrial average lost 22.86, or 0.2 per cent, to close at 10,835.28
The Standard & Poor's 500 index slipped 2.97, or 0.3 per cent, to 1,144.73, and the Nasdaq composite fell 3.03, or 0.1 per cent, to 2,376.56.
In currency trading, the dollar fell to 83.57 yen from 83.78 yen in New York late Wednesday. The euro fell to $1.3604 from $1.3622.
Benchmark crude for November delivery was down 9 cents at $77.77 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained $1.20 to settle at $77.86 Wednesday.
Japan's benchmark Nikkei 225 stock average slipped 64.71 points, or 0.7 per cent, to 9,494.67. Sentiment in Tokyo was also sluggish as Japan's industrial production fell for the third straight month in August.
Hong Kong's Hang Seng index fell 155.12 points, or 0.7 per cent, to 22,227.06 while South Korea's Kospi was down 0.1 per cent at 1,864.13.
Tens of thousands of workers marched through the streets of Europe Wednesday, decrying the loss of jobs and benefits they fear will come with stinging austerity measures seeking to contain government debt.
Unions claimed a crowd of 100,000 marched on European Union headquarters in Brussels.
The massive street protests raised worries that European countries including heavily indebted nations like Ireland, Greece and Spain may not be able to implement tough deficit-cutting measures.
Concerns over Europe's debt problems also dampened sentiment on Wall Street.
The Dow Jones industrial average lost 22.86, or 0.2 per cent, to close at 10,835.28
The Standard & Poor's 500 index slipped 2.97, or 0.3 per cent, to 1,144.73, and the Nasdaq composite fell 3.03, or 0.1 per cent, to 2,376.56.
In currency trading, the dollar fell to 83.57 yen from 83.78 yen in New York late Wednesday. The euro fell to $1.3604 from $1.3622.
Benchmark crude for November delivery was down 9 cents at $77.77 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained $1.20 to settle at $77.86 Wednesday.