Tuesday, April 22, 2008

Asian markets decline, Indian markets to follow

Asian markets declined in the opening session of trade on Tuesday (April 22), led by banks and technology companies, after Bank of America posted lower earnings than the estimated and Texas Instruments forecasts poor profit.

Daisan Bank, a Japanese regional bank, declined to five weeks low after reporting net income that missed its own estimates.

The world`s biggest maker of memory-chip testers Advantest, declined.

Japanese benchmark index Nikkei fell 153.74 points, or 1.12%, to trade at 13,542.81.

Hong Kong`s index Hang Seng declined 243.96 points, or 0.99%, to trade at 24,477.71.

China`s Shanghai Composite decline 77.81 points, or 2.50%, to trade at 3,039.17.

Taiwan`s Taiex index rose 82.13 points, or 0.90%, to trade at 9,001.19.

South Korea`s KOSPI declined 7.35 points, or 0.41%, to trade at 1,793.13.

Singapore`s Straits Times lost 19.79 points, or 0.62%, to trade at 3,151.30. (8.10 a.m., IST)

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