Asian Markets' Closing Prices

Tuesday, February 27, 2007 | 06:49 AM

China's main stock market is under pressure this morning; We should expect some spillover across Asian Markets, Europe and the US.

The WSJ observed:

"Shanghai's benchmark stock index plunged nearly 9% on Tuesday, its biggest drop in more than 10 years, as investors unloaded shares to lock in profits after recent gains. Asian-Pacific markets ended mostly lower.

The Shanghai Composite Index tumbled 8.8% to close at 2771.79, its biggest single-day decline since it fell 9.4% on Feb. 18, 1997, just after the death of Communist Party elder Deng Xiaoping. The Shanghai index had gained 1.4% on Monday to 3040.60, extending a spate of record high closes."

Here are the closing prices throughout most of Asia and the Pacific Rim:

                                                                                                                       
ASIA MARKETS
  PRICE CHG %CHG
Australia 5977.60-44.30-0.74%
Hong Kong 20147.87-360.08-1.76%
India 13478.83-170.69-1.25%
Indonesia 1764.01-19.94-1.12%
Japan 18119.92-95.43-0.52%
Malaysia 234.67-7.48-3.09%
Pakistan 11378.02-15.67-0.14%
Philippines 3331.29-48.71-1.44%
Singapore 3232.02-75.90-2.29%
S.Korea 1454.60-15.43-1.05%
Sri Lanka 2996.49-15.83-0.53%
Taiwan 7901.961.760.02%
Thailand 683.95-4.75-0.69%
Sources: Dow Jones, Reuters





Source:
China's Market Slides Nearly 9%;
Regional Indexes End Mostly Lower

CHRIS OLIVER
WSJ, February 27, 2007 5:52 a.m.
http://online.wsj.com/article/SB117254549199120257.html?

Tuesday, February 27, 2007 | 06:49 AM | Permalink | Comments (18) | TrackBack (1)
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» Breakfast Links: Three Series of Related Events from #comments
Ok, lets start with this First, Greenspan goes and says that the US is headed for a recession towards the end of the year or maybe 2008. Then Chinas markets take a dump. Then the US Markets go to the toilet, which is bad enough, bu... [Read More]

Tracked on Feb 28, 2007 8:28:32 AM

Comments

Greenspan speaks in Hong Kong and the Chinese stock market drops 10% the next day.

Coincidence? I think not!

I'm sure in his speech, aside from warning about a U.S. recession, he advised Chinese investors to buy Chinese stocks on margin.

Also worth noting: the degree to which Chinese stock analysts have borrowed from their U.S. brethren in offering fatuous explanations for market drops.

"It was due to pressure from profit taking," said Weng Chen (not the real name)

Posted by: Dan | Feb 27, 2007 7:15:17 AM

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