Stock Markets

German stocks plunge after bank rescue bid

German stocks plunge after bank rescue bidFrankfurt  - Stocks plunged in early trading in Germany on Monday, a day after the government and banks agreed to expand a bail-out for troubled property lender Hypo Real Estate
(HRE).

Frankfurt's blue chip DAX slumped 4.54 per cent to 5,533.57, its lowest level since July 2006.

All 30 companies on the index suffered losses, with financial institutions leading the way.

HRE was 48.3 per cent lower at 3.88 euros (5.27 dollars), Commerzbank was 14.8 per cent down at 12.08 euros and Deutsche Bank, Germany's biggest, was off 6.2 per cent at 49.75 euros.

Shares fall sharply in Seoul

Shares fall sharply in SeoulSeoul  - Shares nosedived Monday on the Seoul stock exchange, sending the benchmark Kospi Index down more than 4 per cent, as worries over the global financial crisis persist despite a US bailout plan.

The Kospi plunged 60.90 points, or 4.3 per cent, to close at 1,358.75.

Declining issues outnumbered advancers 775 to 79.

The main index of the technology-heavy Kosdaq market declined 25.71 points to 406.39.

India's Sensex falls 3.7 per cent on fears of economic crisis

India's Sensex falls 3.7 per cent on fears of economic crisis New Delhi  - India's benchmark Sensex stock index fell by 3.7 per cent in early trading Monday on weak Asian markets and a declining rupee.

The 30-share-sensitive index, which lost 529.35 points in the previous session, plunged another 459.6 points an hour and half after the markets opened.

It traded at 12,066.72 shortly before 11:30 am (0600 GMT), a loss of 3.67 per cent.

The situation was no different at the National Stock Exchange, where the broader S&P CNX Nifty traded at 3,678.40 for a loss of 3.66 per cent.

Hong Kong shares fall 3.35 per cent in morning trading

Hong Kong shares fall 3.35 per cent in morning trading

Taiwan shares fall more than 4 per cent over global economic slump

Taiwan shares fall more than 4 per cent over global economic slumpTaipei  - Taiwan stocks fell more than 4 per cent by mid-morning Monday as investors worried about the global economic slump.

The Taiex dropped 236.53 points, or 4.12 per cent, to close at 5,505.

"Major Asian shares dived today because, despite the passing of the 700-billion-US-dollar rescue package in the US Congress, many Americans don't think the package can solve all of America's economic problems," said Chiu Hsin-lin, executive vice president of the Industrial Bank of Taiwan Securities.

Nikkei falls to a four-year low, Topix tumbles below 1,000 points

Tokyo  - Nikkei falls to a four-year low, Topix tumbles below 1,000 points Japan's key Nikkei 225 Stock Average fell to a four-year low Monday on worries about the financial crisis, despite US Congressional approval of a Wall Street bail-out.

The benchmark Nikkei index was trading midday (4:43 GMT) at 10,434.17, down 503.97 points, or 4.60 per cent.

The broader Topix index of all first-section issues fell below the psychological marker of 1,000 points for the first time since December 2003.

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