Asian stock markets enter bear territory

The fall in some Asian stock markets appear to be accelerating. Today from Bloomberg:

Asian stocks fell on concern the U.S. will enter a recession and slow global growth. Japan's Nikkei 225 Stock Average dropped to its lowest since October 2005, while Hong Kong's Hang Seng Index plunged the most since the September 2001 attacks...

The MSCI Asia Pacific Index lost 3.7 percent to 141.38 at 6:05 p.m. in Tokyo, heading for its lowest close since Aug. 17. The measure is entering its fourth week of losses, and has declined 18 percent since its Nov. 1 record...

Japan's Nikkei 225 dropped 3.9 percent to 13,325.94, the lowest since Oct. 25, 2005. The measure has retreated 27 percent since its record on July 9, 2007. Singapore's Straits Times Index slumped 6 percent, while India's Sensitive Index tumbled 7.4 percent, the most in the region.

Hong Kong's Hang Seng Index lost 5.5 percent, the biggest fall since the Sept. 11, 2001, attacks and extending its decline from its Oct. 30 high to 25 percent...

Hong Kong's fall from its peak is matched by Singapore's and is just a little less than the Nikkei 225's 27 percent fall from its peak in July 2007.