Europe Debt Woes Hit Euro, Asian Shares
THE TELEGRAPH: Asian stock markets tumbled and the euro slid to a four-year low against the dollar on Monday as fresh worries over debt woes in Europe dampened sentiment across the region.

Japan's benchmark Nikkei 225 stock average dropped 2pc, Hong Kong's Hang Seng index lost 2.5pc and the Shanghai Composite 3.4pc. In South Korea, the Kospi slid 2.8pc and Australia's S&P/ASX 200 index was down 2.8pc.

Asian investors' mood turned downbeat on growing concerns that cost-cutting fiscal measures being taken by Greece, Portugal and Spain could hamper a recovery in the eurozone economy.

The euro fell as low as $1.2235 against the dollar and the pound weakened further, hitting $1.4252 at one stage against the US currency. >>> Angela Monaghan | Monday, May 17, 2010

Asian Markets Slammed on Greece Downgrade

Asia Stocks Fall on Growing US Economic Fears
TIMES ONLINE: Asian stocks fell heavily on Tuesday following last night's sharp decline in American shares. Investors responded to fears that the world's largest economy is sinking further into recession and speculation that the US Government may be forced to buy stakes in ailing banks, despite assurances from Washington that lenders would not be nationalised.

Japan's Nikkei Index fell by 1.5 per cent to a four-month low, narrowly avoiding a slide to below 7,000 for the first time in 26 years, closing at 7,268.56. In Hong Kong, the Hang Seng lost 461.46 points, or 3.5 per cent, to end the day at 12,713.64. Last night, the Dow Jones industrial average fell to an 11-year low, losing 250.89 points to 7,114.78.

Japanese shares remained in the red for the day despite hints from Kaoru Yosano, the newly appointed Finance Minister, that the Government may be working on more measures to support the domestic share market. "The side-effects of falling stock prices are worse than expected,” said Mr Yosano. “We are witnessing many negative wealth effects with impaired assets held by banks and insurance firms.”

Japan's Government is understood to be mulling over plans to buy falling stocks with money from the public purse in an effort to keep prices buoyant. >>> Leo Lewis, Asia Business Correspondent | Tuesday, February 24, 2009

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