Asian Markets in red; Nikkei slips 2%
August 13th, 2008
Wednesday, August 13, 2008 4:54:05 PM
Sans the Jakarta Composite, almost all major stock exchanges in Asia Pacific closed the day in red. Nikkei sliped by 2.11% to close at 13023.05. Recession fears and a shrinking Japanese economy are the reasons to blame. The other top losers in the region include All Ordinaries and the Hang Seng that slipped by over a percent in todays trade.
Drop in oil demands globally has given a sort of pause of the Oil prices. The US Oil usage according to its official numbers shows it all. The trend is clearly towards less of oil-inflation worries but more serious towards global economy slowdown.
1 U.S. dollar = 109.349371 Japanese yen
1 U.S. dollar = 0.670960816 Euros
1 U.S. dollar = 42.3298341 Indian rupees
Entry Filed under: Global Markets
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