Post by unlawflcombatnt on Aug 6, 2007 2:56:18 GMT -6
Below are excerpts from 2 separate article showing declines in most world stock markets in early Monday trading.
Asian Stock Markets Tumble
"HONG KONG (Reuters) - Asian stock markets tumbled on Monday with financial shares such as Macquarie Bank hit by global credit jitters, while fresh concerns about the health of the U.S. economy knocked the dollar lower.,,,
The MSCI index of Asian stocks outside Japan shed 2.2 percent by 0300 GMT after earlier plumbing a fresh one-month low. At the session trough, it was down 9.6 percent from the record high set on July 24, matching the percentage fall suffered in late February and early March.
The index fell 1.0 percent last week, marking its second weekly decline.
Among the region's top decliners, Singapore's Straits Times Index dropped 3.8 percent to 3- month lows while Hong Kong's Hang Seng Index slid 2.4 percent to one-month lows...."
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Credit, growth fears batter stocks, hit dollar
"Fears of a global credit squeeze and worries about U.S. economic strength swept across financial markets on Monday, shaking up stocks, knocking the dollar to a 15-year low and straining popular currency trades....
Stock markets were the most obvious victim of the flight from riskier assets on Monday.
The FTSEurofirst 300 index (.FTEU3) of top European shares was down 0.7 percent having opened much lower. Britain's FTSE 100 index (.FTSE) was 0.5 percent lower, Germany's DAX (.GDAXI) was 0.14 percent down and the French CAC 40 (.FCHI) was down 0.9 percent.
"We are seeing a flight to safe havens, to very short and very liquid assets, mainly cash," said Heinz-Gerd Sonnenschein, equity strategist at Postbank in Germany.
"Nobody knows which insurer, which bank, which pension fund or which hedge fund will have problems in their credit portfolio," Sonnenschein said.
MSCI's main emerging market stock index was down 1.8 percent.
Earlier, Japan's Nikkei average (.N225) fell 0.4 percent, leaving it nearly 8 percent off this year's peak marked in February. The broader TOPIX index (.TOPX) lost 0.3 percent...."
Asian Stock Markets Tumble
"HONG KONG (Reuters) - Asian stock markets tumbled on Monday with financial shares such as Macquarie Bank hit by global credit jitters, while fresh concerns about the health of the U.S. economy knocked the dollar lower.,,,
The MSCI index of Asian stocks outside Japan shed 2.2 percent by 0300 GMT after earlier plumbing a fresh one-month low. At the session trough, it was down 9.6 percent from the record high set on July 24, matching the percentage fall suffered in late February and early March.
The index fell 1.0 percent last week, marking its second weekly decline.
Among the region's top decliners, Singapore's Straits Times Index dropped 3.8 percent to 3- month lows while Hong Kong's Hang Seng Index slid 2.4 percent to one-month lows...."
____
Credit, growth fears batter stocks, hit dollar
"Fears of a global credit squeeze and worries about U.S. economic strength swept across financial markets on Monday, shaking up stocks, knocking the dollar to a 15-year low and straining popular currency trades....
Stock markets were the most obvious victim of the flight from riskier assets on Monday.
The FTSEurofirst 300 index (.FTEU3) of top European shares was down 0.7 percent having opened much lower. Britain's FTSE 100 index (.FTSE) was 0.5 percent lower, Germany's DAX (.GDAXI) was 0.14 percent down and the French CAC 40 (.FCHI) was down 0.9 percent.
"We are seeing a flight to safe havens, to very short and very liquid assets, mainly cash," said Heinz-Gerd Sonnenschein, equity strategist at Postbank in Germany.
"Nobody knows which insurer, which bank, which pension fund or which hedge fund will have problems in their credit portfolio," Sonnenschein said.
MSCI's main emerging market stock index was down 1.8 percent.
Earlier, Japan's Nikkei average (.N225) fell 0.4 percent, leaving it nearly 8 percent off this year's peak marked in February. The broader TOPIX index (.TOPX) lost 0.3 percent...."