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The downgrading of US debt by S&P had its impact on the Asian stocks on Monday. The bourses which opened on negative bias made some recoveries intra-day but ended with losses.
Japan’s Nikkei at 9,097.56 closed lower at 202.32, Hong Kong’s Hang Seng finished lower by 455 points at 20,490.57. Other major indices which closed in the red are South Korea’s Kospi at 1,869.45 points (-74.30), Singapore’s ST Index at 2,884 (-110.78), Shanghai Composite Index at 2,526.82(-99.60) and Taiwan Index at 7,552.80(-300.33).
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