Nikkei: 9,555.04 (-164.57) Hang Seng: 23,253.84 (-372.59) Shanghai Comp: 2,705.18 (-38.39)HONG KONG shares finished weaker yesterday as risk appetite plunged after stocks in the United States suffered their worst decline since last August on weak economic data, but the lack of a spike in volume suggested there was no rush for the exits.
The benchmark Hang Seng Index declined 1.58 per cent to 23,253.84, while the China Enterprises Index closed down 1.93 per cent to 12,976.86.
Banking counters led a broad decline on the Shanghai Composite Index as rumours swirled of a possible interest rate increase over the upcoming weekend. The index ended down 38.39 at 2,705.18.
Japanese share prices fell sharply on suspicions the global economy may be losing traction, prompting traders to shun risk assets.
Tokyo shares were not helped by simmering political uncertainty after Japanese prime minister Naoto Kan survived a no-confidence vote by offering to resign once he has overcome the worst of the country’s nuclear crisis.
The Nikkei share average fell 1.7 per cent to 9,555.04, giving up a large portion of the gains accumulated over the past two sessions. – (Reuters)
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