AFP – Asian markets tumbled yesterday following another sharp sell-off on Wall Street as investors were bombarded by a perfect storm of problems including rising virus infections, new lockdowns, a slowing economic recovery, stalled US stimulus talks and election uncertainty.
Months of mind-boggling gains in global equities have come to a juddering halt this month and expectations are fading that a wall of cash from governments and central banks will jump-start a rebound.
The losses flowed through to Asia again, with Hong Kong, Tokyo, Shanghai, Singapore, Bangkok and Jakarta all down more than 1 percent, while Mumbai and Taipei shed more than 2 percent.
Seoul also slumped more than 2 percent after South Korea said forces from the North had shot a South Korean official and burned him after he disappeared off a patrol vessel and ended up in Pyongyang’s waters.
Sydney, Manila and Wellington were also down.
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