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NTDTV

Market Report - Asian Markets Slide

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Redaktion

29. Oktober 2009

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Lesedauer: 1 Min.

Asian shares fell Thursday after an unexpected drop in U.S. home sales last month. It’s restarted worries about global growth—and it’s led to a shift away from riskier assets.

Worries about the U.S. economy lifted the yen against the dollar, helping to send the Nikkei below 10,000 for the first time in three weeks.

Seoul’s KOSPI index fell to a near two-month low as steel giant POSCO took a hit.

In Australia, resource shares like top miner Rio Tinto were down on falls in commodities prices. Rio is reportedly looking to mend relations with Chinese metals firm Chinalco… by making a joint investment in a Mongolian copper-gold mine project.

The two firms had a falling out in June when Rio walked away from a proposed $19.5 billion equity tie up with the state-owned Chinese company.