Another bad day for stocks in Asia.
Index | Value | Change | % change |
Nikkei 225 | 10,825.10 | -328.48 | -2.95% |
Hang Seng | 11,396.94 | -131.24 | -1.14% |
Korea Composite | 790.13 | -26.96 | -3.30% |
Straits Times | 1,778.59 | -23.58 | -1.31% |
KL Composite | 803.11 | -15.61 | -1.91% |
Concern over rising oil prices weighed down stocks. Airline stocks were hard hit. Singapore Airlines fell 2 percent to S$10, Cathay Pacific fell 2.6 percent to HK$13.10 and Qantas Airways fell 3.3 percent to A$3.26.
News that China's industrial production and money supply (M2) both grew 19 percent from a year earlier didn't help, reminding investors that tougher measures to cool down China's economy may still be on the cards.
Looks like a major stock market correction is truly underway.
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