Asian markets drop on new European debt fear

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/Reuters

Asian stocks experienced a sharp decline as Italian and Spanish borrowing costs surged; rising concerns among investors that debt crisis might strengthen.  Japan's Nikkei Stock Average lost 0.6%, Hang Seng Index trader 1.1% lower while China's Shanghai Composite fell 0.1%. Australia's S&P/ASX 200 slipped 0.4% whereas South Korea's Kospi decreased 0.6%.

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Tue, 15 Nov 2011 08:13:05 GMT

Bank of America sells shares of CCB

Bank of America plans to sell 10.4bn of China Construction Bank shares for about $6.6bn in cash. Bank of America is under pressure because of global crisis and bad loans. The bank has to increase its capital base in compliance with new global regulation Basel III that obliges banks to have higher capital to asset ratio.  

Tue, 15 Nov 2011 08:11:42 GMT

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