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Asian Market Roundup September 5

Asian Market Roundup September 5

Write: Saviero [2011-09-06]

China

China's stocks extended losses and tumbled on Monday tracking Wall Street's losses last Friday. The benchmark Shanghai Composite Index fell 1.96 percent, or 49.54 points, to end at 2,478.74.

The Shenzhen Component Index plunged 2.43 percent, or 273.39 points, to finish at 10,954.9.

The benchmark Hang Seng Index lost 596.51 points, or 2.95 percent, to close at 19,616.40.

Japan

Japan's Nikkei average skidded nearly 2 percent on Monday to wipe out last week's gains, hurt by a weaker euro and a U.S. jobs report that raised worries President Barack Obama's job measures will not be enough to prevent another U.S. recession.

The Nikkei was down 1.9 per cent at 8,783.16. The broader Topix index dropped 1.9 per cent to 755.53.

Australia

Australian stocks took a heavy hit today, as disappointing US jobs numbers raised fears of another recession in the world's largest economy.

At the close, the benchmark S&P/ASX200 index was down 101 points, or 2.4 per cent, at a two-week low of 4141.9, while the broader All Ordinaries index fell 97.3 points, or 2.3 per cent, to 4224.2.