Mkts' fall due to weak Asian cues: Fin Secy

2008-01-22 16:29:42 Source : CNBC-TV18

The Finance Secretary has said that the share market fall has been due to weakness in the Asian markets, reports Newswire 18. However, he evaded any comment on the government’s response to the share market fall.

Shanghai

Global Mkts Today

-Most Asian markets fell around 8% on an average
-Hang Seng down 8.5%, Jakarta down 7.5%, Shanghai down 7%
-Nikkei ended down 5.7% at 28 month low
-Nikkei saw biggest one-day loss since Sep 11, 2001 attack
-Nymex crude falls 4%; trading below $85/bbl
-Yen hits two and half year high against the dollar
-Yen trading near 106/$

Taiwan
-FIIs net sell equities worth $604.3 m in today's trade (Prov)

Data To Watch

-Dow Jones Futures down nearly 550 pts
-Earnings from Bank of America & Ambac Fin Group
-To watch for further writedowns