Fear of European meltdown clutches Asian markets

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Fear of European meltdown clutches Asian markets

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A decline was observed in Asian markets as Euro hit record low following fears of European collapse.

23 May,2011 12:43 pm

Fear of economic meltdown in Europe made investors in Europe cautious and a downward trend was seen in Asian stock markets on Monday. Morgan Stanley Asia Pacific Index in Tokyo recorded a decrease of 2.1 percent while Japans Nikkei Index shrank 1.25 percent and Topix Index reduced by 1.2 percent. Hong Kong’s Hang Seng Index fell 1.94 percent and 2.9 percent reduction was recorded in Shanghai Composite Index.The value of dollar skidded up by 0.9 percent.