Asian markets fell along with major international markets on concerns over the European slowdown. The Hong Kong government's decision to interrupt negotiations with pro-democracy demonstrators has also created tension. The yen held their levels, while copper and oil were declining. The MSCI Asia Pacific index plunged 1% as of 9:48am in Tokyo, approaching its worst close since May. The Topix was down 1,5 percent. The yen closed the week higher for the first time since August, while copper dropped 0,5 percent.
“It's a red day and there's nothing on the horizon to push the markets higher,” said Ric Spooner, chief market analyst at CMC Markets Australia. “European weakness is a source of concern, as are signs of a softening of Chinese growth”.
Australia's S&P/ASX 200 fell 1,8%, marking its worst daily drop since August, while the Kospi contracted 0,9% as it reopened for business after a day off. Taiwan Square was closed today. The Asia-Pacific index, which counts 989 stocks from New Zealand to Korea, is on track to end the week down 0,6 percent.
