0
HONG KONG, March 5: Asian share prices posted heavy losses on Monday as players scaled down their exposure to risky investments after the recent global turmoil.
Dealers said that the dollar's slump to near three-month lows against the yen highlighted an unwinding of so-called yen carry trades by speculators who have binged on Japan's cheap credit to fund investments elsewhere.
TOKYO: Share prices slumped by 3.34 per cent, mirroring heavy losses across Asia fuelled by concerns about the health of global markets and a stronger yen.
That added to nervousness over fresh losses seen on Wall Street on Friday and across Asia at the start of the week.
HONG KONG: Share prices tumbled, shedding 4.0 per cent, following big drops on Wall Street and in Tokyo and on fears new restraints will be placed on the Chinese economy.
The Hang Seng Index closed down 777.13 points at 18,664.88.
SYDNEY: Share prices closed down 2.29 per cent as the aftershocks of last week's global sell-off continued to rattle investors.
SINGAPORE: Share prices closed 3.13 per cent lower, reflecting similar steep losses across regional equities markets as the heavy sell-off continued into a second week.
KUALA LUMPUR: Share prices closed 4.64 per cent lower, the worst performer of regional markets which were sold-off heavily again in the aftermath of last week's rout.
JAKARTA: Share prices tumbled 3.48 per cent, after big falls in Asia and Wall Street's worst weekly loss in over four years.
WELLINGTON: Share prices closed 1.57 per cent lower, which brokers said was as much a healthy correction as it was a hit from another global selloff.
MUMBAI: Indian share prices plunged 3.66 per cent Monday in line with other Asian bourses after a big drop on Wall Street last week that led overseas funds to sell, dealers said.—AFP
