Asian markets on Wednesday (Feb. 06, 2008) plunged after the services sector in the US shrunk fueling concern that the US economy is in recession.
Nintendo fell on speculation that the US consumer spending will decline.
Markets in China, South Korea and Taiwan are closed today, while Hong Kong and Singapore will close after morning trading.
Japanese benchmark index Nikkei retreated 567.34 points, or 4.13%, to trade at 13,178.16.
Hong Kong`s index Hang Seng plunged 1,216.39 points, or 4.90%, to trade at 23,592.31.
Singapore`s Straits Times fell 103.36 points, or 3.40%, to trade at 2,935.06. (8.00 a.m., IST)
Indian market are also expected to open in the negative. Indian IT stocks will see substantial fall during the day.
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