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Sun, Feb 22, 2009 - Page 10 News List

Flagging world economy saps Asian markets

SLUMP Markets in Asia were spooked by falling corporate profits this week and the weak NT dollar is keeping foreign money out of Taiwan, analysts said

BLOOMBERG AND AFP , TAIPEI AND HONG KONG

Other regional markets:

KUALA LUMPUR: Down 1.1 percent. The Kuala Lumpur Composite Index lost 9.88 points to 889.71.

BANGKOK: Down 1.57 percent. The Stock Exchange of Thailand composite index fell 6.95 points to 434.67 points. “The [market] sentiment was down as investors lost confidence in the global economy and solutions to the financial crisis in the US,” said Pichai Lertsupongkit, senior vice president at Thanachart Securities.

JAKARTA: Down 2 percent. The Jakarta Composite Index lost 26.75 points to 1,296.94.

MANILA: Down 1 percent. The composite index shed 18.36 points to 1,881.44. “Investors are selling because of the fear of what will happen in the US,” said April Lee-Tan, research head at CitisecOnline.com.

MUMBAI: Down 2.21 percent. The benchmark 30-share SENSEX index fell 199.42 points to 8,843.21 as foreign funds sold index heavyweights on the back of weak US index futures trends.

WELLINGTON: Down 1.54 percent. The benchmark NZX-50 index dropped 40.25 points to 2,576.68.

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