Thursday, April 10, 2008

Asian markets open negative

Asian stocks opened on negative note on Thursday, April 10, as investors lost confidence as speculation on banks credit-related losses rose.

Mitsubishi UFJ Financial dropped after U.S. securities companies reported owning more assets that are vulnerable to writedowns. Woodside Petroleum and Mitsubishi led gains by oil producers and trading companies.

Japanese benchmark index Nikkei fell 77.41 points, or 0.59%, to trade at 13,034.48.

Hong Kong`s index Hang Seng declined 24.14 points, or 0.10%, to trade at 24,960.43.

China`s Shanghai Composite fell 47.87 points, or 1.40%, to trade at 3,366.04.

Taiwan`s Taiex index gained 120.18 points, or 1.39%, to trade at 8,788.11.

South Korea`s Kospi gained 1.15 points or 0.07% to trade at 1,755.86.

Singapore`s Straits Times declined 14.90 points, or 0.48%, to trade at 3,074.82. (8.00 a.m., IST)

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