Asian markets are trading weak in the opening trade today. Nikkei and Kospi fall more than 3% after S&P 500 breaks November low of 740 on Friday on the news of increasing government stake in Citigroup. Nouriel Roubini feels government involvement in banks in the short term is the right thing to do.
China’s Shanghai Composite fell 0.89% or 18.50 points at 2,064.34. Hong Kong’s Hang Seng plunged 2.82% or 361.58 points at 12,449.99. Japan’s Nikkei tumbled 3.20% or 242.46 points at 7,325.96. Singapore’s Straits Times shed 3.16% or 50.47 points at 1,544.40. South Korea’s Seoul Composite declined 3.07% or 32.66 points at 1,030.37. Taiwan’s Taiwan Weighted lost 1.54% or 70.29 points at 4,486.86.
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