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HONG KONG, June 20: Asian stocks tumble as investors headed for the exits again on Tuesday, taking their cue from Wall Street after another US central bank warning on the dangers of inflation undercut hopes that the recent sell-off was over and done with.
The markets had performed relatively well last week, encouraging the belief that the May rout -- sparked by fears rising inflation would lead to higher interest rates and slower growth -- had run its course.
TOKYO: Share prices closed down 1.43 per cent with the market downbeat following sharp falls on Wall Street and the prospects of higher interest rates in the United States.
The Nikkei-225 index lost 211.94 points to 14,648.41. Volume rose slightly to 1.47 billion shares from 1.44 billion shares Monday.
HONG KONG: Share prices closed 1.01 per cent lower led by banks and property stocks as interest rate worries came to the fore again in the run-up to US Federal Reserve's policy meeting next week.
SYDNEY: Share prices slumped another 0.81 per cent as investors fretted that China's efforts to slow its fast growing economy will dampen one of the major drivers of the local economy.
SINGAPORE: Share prices closed down 1.72 per cent tracking similar losses in the region after overnight falls on Wall Street battered market sentiment.
KUALA LUMPUR: Share prices closed flat as late buying in blue chips reduced the market's early losses but sentiment remained generally cautious.
JAKARTA: Share prices closed 0.01 per cent weaker Tuesday but off the day's lows, as the benchmark index recovered nearly all of its early losses with a late blue-chip rebound.
WELLINGTON: Share prices closed 0.51 per cent lower, led down by market leader Telecom following renewed weakness in overseas markets.
The NZSX-50 gross index fell 17.97 points to 3,546.55 on turnover worth 111.3 million New Zealand dollars (68.8 million US).
MUMBAI: Share prices slumped 1.75 pc amid renewed concerns about a global economic slowdown if central banks raise interest rates further.—AFP
