HONG KONG - ASIAN stocks tumbled on Monday as financial firms were hit by news that Wall Street giant Goldman Sachs had been charged with misleading investors.
Chinese shares were also hit by news that Beijing had moved to further restrict property speculation with a new set of measures, while the Icelandic volcano that shut air space across northern Europe hit Asian airline shares.
The blue-ribbon investment bank faces accusations of 'defrauding investors by misstating and omitting key facts' about a financial product based on subprime mortgage-backed securities. The securities were a key contributor to the financial crisis that peaked in 2008 because many contained risky mortgages.
Tokyo opened 1.55 per cent lower, while Hong Kong fell 1.60 per cent and Sydney dropped 1.32 per cent. Singapore fell 1.32 per cent and Seoul was 1.33 per cent off.
Shanghai gave up 1.72 per cent in early trading as property developers were hit by an announcement from Beijing of further tightening measures to cool the property market, dealers said.
Airline shares were hit by as the volcanic ash cloud spreads across Europe, grounding aircraft in most countries. Qantas fell 2.4 per cent, Air New Zealand was 2.8 per cent lower and All Nippon Airways dropped 3.1 per cent. -- AFP
KUALA LUMPUR
At 9.30am on Monday, there were 40 gainers, 359 losers and 97 counters traded unchanged on the Bursa Malaysia.
The FBM-KLCI was at 1,322.67 down 10.10 points, the FBMACE was at 4,170.29 down 37.03 points, and the FBMEmas was at 8,972.92 down 77.68 points.
Turnover was at 99.980 million shares valued at RM91.336 million (S$39.2 million).
HONG KONG Hong Kong shares were 1.60 per cent lower in the first few minutes of trade on Monday, with the benchmark Hang Seng Index down 349.33 points at 21,515.93.
TOKYO
Japanese shares fell 1.81 per cent by noon on Monday, dragged lower by financial stocks as investors grappled with news that US regulators have charged Goldman Sachs with fraud.
The headline Nikkei index of the Tokyo Stock Exchange finished the morning session down 200.85 points at 10,901.33. The broader Topix index of all first section shares declined 18.64 points or 1.89 per cent to 970.20. -- AFP, BERNAMA
Chinese shares were also hit by news that Beijing had moved to further restrict property speculation with a new set of measures, while the Icelandic volcano that shut air space across northern Europe hit Asian airline shares.
The blue-ribbon investment bank faces accusations of 'defrauding investors by misstating and omitting key facts' about a financial product based on subprime mortgage-backed securities. The securities were a key contributor to the financial crisis that peaked in 2008 because many contained risky mortgages.
Tokyo opened 1.55 per cent lower, while Hong Kong fell 1.60 per cent and Sydney dropped 1.32 per cent. Singapore fell 1.32 per cent and Seoul was 1.33 per cent off.
Shanghai gave up 1.72 per cent in early trading as property developers were hit by an announcement from Beijing of further tightening measures to cool the property market, dealers said.
Airline shares were hit by as the volcanic ash cloud spreads across Europe, grounding aircraft in most countries. Qantas fell 2.4 per cent, Air New Zealand was 2.8 per cent lower and All Nippon Airways dropped 3.1 per cent. -- AFP
KUALA LUMPUR
At 9.30am on Monday, there were 40 gainers, 359 losers and 97 counters traded unchanged on the Bursa Malaysia.
The FBM-KLCI was at 1,322.67 down 10.10 points, the FBMACE was at 4,170.29 down 37.03 points, and the FBMEmas was at 8,972.92 down 77.68 points.
Turnover was at 99.980 million shares valued at RM91.336 million (S$39.2 million).
HONG KONG Hong Kong shares were 1.60 per cent lower in the first few minutes of trade on Monday, with the benchmark Hang Seng Index down 349.33 points at 21,515.93.
TOKYO
Japanese shares fell 1.81 per cent by noon on Monday, dragged lower by financial stocks as investors grappled with news that US regulators have charged Goldman Sachs with fraud.
The headline Nikkei index of the Tokyo Stock Exchange finished the morning session down 200.85 points at 10,901.33. The broader Topix index of all first section shares declined 18.64 points or 1.89 per cent to 970.20. -- AFP, BERNAMA
