Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 

Asian Sharemarkets In A Bad Way

Plunging stock markets in Asia means trouble again with some markets shedding between one-third and one-half of their value. Compounding Asia's problem is the weakness on Wall Street and surging oil prices. John Howard reports.

Stock markets across Asia are in free-fall with the former darling of the market South Korea, becoming the region's biggest casualty - down 49 percent this year.

Tokyo's benchmark Nikkei Stock Average has been reeling with a loss of 19 percent so far this year, the Taiwan (Taipei) market finished down 30 percent last week, and Thailand shares have lost almost half their value this year.

There are also problems emerging in the Philippines markets amid allegations that President Joseph Estrada received millions in payoffs from illegal gambling operators and because of the hostage crisis in the south.

Perhaps as worrying for the world is the 11 percent drop by the Dow Jones Industrial average and the 18 percent drop by the Dow Jones Nasdaq composite index.

The slide by the Nasdaq has been the catalyst for selloffs of formerly high-flying technology and telecommunications stocks throughout Asia.

Investors in Asia have endured plenty of pain and uncertainty this year, not to mention billions of dollars in losses.

There is now a bear market in the US and Europe.


© Scoop Media

 
 
 
Top Scoops Headlines

 

Gordon Campbell: On The (Delayed) Judgment Day For Theresa May

When under stress, British PM Theresa May reportedly eats peanut butter straight from the jar. Crunch time is looming... More>>

ALSO:

Gordon Campbell: On Politely Fake Political Obituaries (And The Paris Discord)

One unfortunate side effect of “personality politics” is that when prominent politicians die, the niceties we observe at the death of private individuals get automatically extended to them as well... More>>

ALSO:

Unique And Vanishing: NZ Biodiversity Losses Match Global Crisis

One might think that it is buffered from some of the effects of biological erosion, especially since people only arrived less than 800 years ago. But as we show, the impact on wildlife has been catastrophic. More>>

Your Name Here(ish): Sponsor A Section On Scoop.co.nz!

Scoop.co.nz has just launched Section Sponsorships - the newest way for you to gain exposure for your brand to Scoop’s high value audience of 500,000 monthly readers. More>>

ALSO:

You Did It! The Scoop 3.0 PledgeMe Closes

Update: The Scoop 3.0 Crowdsale and Crowdfunding Campaign met its target with a total of $36,024 pledged. It looks like it has all been worthwhile. We are nearly there and Scoop.co.nz will ride again in 2019, our 20th year of operations. Moreover the past week has brought a number of inquiries from larger organisations, many of which have till now failed to respond to our messages... More>>

ALSO: