Asian markets remain weak

Agencies Mumbai | Updated on February 22, 2011

Asian stocks fell on Tuesday as the growing crisis in Libya turned the investors’ attention to safe haven gold which in turn pushed up silver to its highest level in 31 years. Oil prices too rose in the Asian trade. US markets were closed for a holiday.

Japan’s Nikkei 225 dropped 199.24 points or 1.84 per cent to 10,658.29. Hong Kong’s Hang Seng plunged 463.40 points or 1.97 per cent to 23,022.02. Singapore’s Straits Times fell 41.2 points or 1.34 per cent to 3,029.40. South Korea’s Kospi shed 37.27 points or 1.86 per cent to 1,968.03.

Australia’s S&P/Asx 200 was down 42.6 points or 0.87 per cent at 4,857.40. China’s Shanghai Composite tumbled 61.2 points or 2.09 per cent to 2,871.05. Taiwan’s Taiex plummeted 196.16 points or 2.22 per cent to 8,643.06.

Published on February 22, 2011

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