Posted by on August 15, 2007

Asian stocks fell Thursday morning, battered by persistent jitters over U.S. housing loan problems and their possible damage to global financial markets.

The benchmark Nikkei 225 index lost 2.6 % on the Tokyo Stock Exchange in the morning session, and South Korea’s main benchmark fell more than 7 % in early trade after markets there were closed Wednesday for a national holiday.

Taiwan’s main stock index was down 4 % at midday; China’s main index in Shanghai was down 1.4 %.

Singapore’s Straits Times Index was down 4.12 %.

Hong Kong’s blue chip Hang Seng Index was down 4.2 % at midday.

Indonesia’s standard stock index fell as much as 5.6 % in morning trade.

The Philippine benchmark was down 6.1 %, falling below a symbolic 3,100 support level early and then crashing through 3000.

Australia’s benchmark S&P/ASX 200 index was down 3.1 %

The New Zealand benchmark NZX-50 was down 1.6 %. The index has lost more than 8 % in three weeks, including 4.5 % since Monday. 

Posted in: Finance