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Asian stock slide: Canary or just the jitters?
EFL. This may be nothing, but the Asian economies seem particularly fragile right now. At any rate it bears watchingAsian stocks slumped after oil prices climbed to a 21-year high, threatening to slow global economic growth. Samsung Electronics Co. and Advantest Corp. led declines. `A rise in oil prices would mean a profit squeeze for companies, which isnât good news,ââ said Kiyohide Nagata, who helps manage about $3.2 billion at Invesco Asset Management (Japan) Ltd. in Tokyo. Taiwanâs Taiex Index tumbled 5 percent after China warned President Chen Shui-bian three days before his inauguration for a second term that he must accept Chinese sovereignty or ``face destruction by playing with fire.ââ Indiaâs Mumbai stock exchange halted trading for an hour after the Sensex slid 10.9 percent. Posted by: RWV 2004-05-17 |
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