Nikkei: 8,944.48 (–153.08) Hang Seng: 19,330.70 (–1,159.87) Shanghai Comp: 2,526.07 (–0.75)SHARES IN Hong Kong suffered their worst day since the financial crisis in 2008 yesterday, as huge sell-offs across the region prompted authorities in South Korea and Taiwan to intervene in the markets.
The Hang Seng index tumbled 5.7 per cent.
The biggest drag on the market came from HSBC, which fell 7.3 per cent to HK$66.40. Foxconn International shed 6.4 per cent to HK$3.36.
Shanghai recovered from an early slide to close flat. Poly Real Estate added 3.9 per cent to Rmb10.84.
Industrial and Commercial Bank of China rose 1.7 per cent to Rmb4.10.
The recovery for Australian stocks was dramatic. The SP/ASX 200 index reversed a 5.5 per cent dip to finish 1.2 per cent higher at 4,034.8.
Oil stocks and trading houses were among the biggest fallers as crude prices tumbled. Inpex fell 5.5 per cent to ¥497,000 and JX Holdings shed 4.2 per cent to ¥484. Elpida Memory, a chipmaker, lost 9.2 per cent to ¥573 after reporting a quarterly operating loss. – (Copyright The Financial Times Limited 2011)
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