Asian markets slip for a third straight day -- how are investors coping? CNN's Eunice Yoon reports
What do Chinese banks, Taiwanese electronics firms, and Japanese carmakers all have in common? Stock prices, all caught in this deep and sudden slide in Asian markets. For a third straight day, stocks across the region ended lower. The Shanghai Index helped trigger the global sell-off by plunging nearly 9% Tuesday. The trial of recovery was wiped out with another 3% drop. Japan’s Nikkei dropped after its biggest decline in eight months the day before. Hong Kong and Australia also both fell. The markets didn’t get any help from Wall Street’s rebound either.
Concerns in the US arising about another down-legging grow.
Investors here took little comfort in Federal Reserve’s Chairman Ben Bernanke’s comments that the US economy is growing at a moderate pace. Some investors in Asia point to a string of weak US economic data, global goods, provisions in the fourth quarter domestic products and a drop in new home sales and worry about the impact it could have on consumer’s spending habit. But despite the large losses, analysts are unfazed. They say market corrections around springtime happened here in the past three years. Asian markets were up significantly the past year and investors flush with cash look for new places to park their money. But long-term, analysts say Asian economies are strong.
The Chinese economy we think is doing quite well, and, as, as we suggested that the market fluctuation in Shanghai market we saw had nothing to do with the fundamentals in the economy.
In fact, investors are still betting on the economic growth story. Shares in China’s second-largest life insurer Ping An debut today, up over 50%, a sign that despite market jitters, the appetite for Asian shares is far from gone.
Eunice Yoon, CNN, Hong Kong.
相关文章
2007-03-10 
