Wellington - The N

After marking its closure below 11K on Wednesday (Oct 15), the 30-share index BSE Sensex belled the day on a weak note on fears over a long lasting global economic recession activating a huge sell-off across worldwide markets.

The sharp 100 basis points cut in Cash Reserve Ratio (CRR) failed to cause any significant buying this morning.

Realty, metal, IT, Oil & gas and power stocks suffered huge losses. 

BSE Midcap and Smallcap index fell 4.77% and 3.94% respectively.

Manila - Philippine shares

Tokyo - Markets across Asia plummeted on opening Thursday, dragged down by US retail sales data and concerns about whether bank bail-outs would be able to rescue financial markets and avert a recession.

The Tokyo stock market plummeted in early trading after Wall Street's blue-chip Dow Jones industrials lost nearly 8 per cent overnight amid growing recession fears in the United States and worldwide.

The benchmark Nikkei 225 Stock Average plunged 911.91 points, or 9.55 per cent, to 8,635.56.

Taipei - Taiwan stocks dropped more than 3 per cent in morning trading Thursday, dampened by overnight drops on Wall Street and the death of Wang Yung-ching, founder of Taiwan's petrochemical giant Formosa Group, dealers said.

The Taiex index had fallen 164.5 points, or 3.14 per cent to 5,081.69 two and a half hours after the stock market opened.

Stocks of all six listed companies of the Formosa Group fell sharply on the death of the group's founder, dubbed the "god of management" and the second wealthiest man in Taiwan.