Nikkei: 8,456.12 (–89.36) Hang Seng: 16,250.27 (–571.88) Values at yesterday's closeGLOOMY ECONOMIC data out of South Korea added to the darkening mood on Asian equity markets yesterday, leaving the country's stock index lower.
Fears about the shadow cast over the outlook for global growth by the euro zone’s financial crisis continued to drive sentiment.
Market heavyweights suffered a heavy sell-off in Seoul due to the economy’s reliance on exports.
Worst hit were the country’s resource stocks with S-Oil sliding 10.6 per cent to Won93,900 and Hyundai Steel losing 6.7 per cent to Won82,300.
Financial shares lost ground on concerns of the fallout from euro zone’s sovereign debt crisis.
KB Financial, the country’s largest consumer lender, slipped 3.1 per cent to Won39,100 while Woori Financial sank 5.1 per cent to Won9,730 and Hana Financial slid 2.9 per cent to Won34,000.
The sell-off of Hong Kong-listed stocks gathered pace with offshore oil group Cnooc down 6.7 per cent to HK$11.34.
Japan’s Nikkei 225 Average fell 1.1 per cent. Mazda Motor was the worst-performing of the car makers, down 4 per cent at ¥143. – (Copyright The Financial Times Limited 2011)
