Asian stocks plummet on disappointing data from China

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

On Wednesday most Asian equity markets experienced sharp decline after China reported disappointing manufacturing survey and added to anxiety regarding global slowdown. Shanghai Composite Index switched from modest gains and closed lower by 0.4%. Hong Kong's Hang Seng Index lost 2% while Australian S&P/ASX 200 and Korean Kospi fell 2% and and 2.4% respectively. Japanese markets today are closed.

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Wed, 23 Nov 2011 08:27:44 GMT

Spain auction to push down European stocks

On Tuesday European stock markets fell on an expensive Spanish bond auction and on US data that showed lower-than-expected GDP growth. France's CAC 40 index lost 0.8% and closed at 2,870.68, German DAX 30 index fell 1.2% to 5,537.39 while U.K's FTSE 100 index slumped 0.3% reaching 5,206.82. Spanish index IBEX 35 declined most and gave up 1.5% closing at 7,904.90. 

Wed, 23 Nov 2011 08:22:23 GMT

China's manufacturing expected to decline this month

According to managers' preliminary purchasing index Chinese manufacturing industry is expected to face contraction as home sales drop. This month index of 48 estimated by Markit Economics and HSBC Holdings Plc is 3 points less than in previous month. Any estimate below 50 denotes contraction. Analysts say the fall of the index is caused by a 25% decline in home sales last month.

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