Asia Drops Like a Stone

Stock quotes in this article: HKXCF , LFC , PTR , CPCAY , CHL , CHU , CN , CHA , C , SNE  

Megabanks were also hammered, after Citigroup announced its massive writedown. Mitsubishi UFJ(MTU Quote) slid 4.7%, to 952 yen, and Sumitomo Mitsui Financial(SMFJY Quote) shed 2.4%, to 574 yen.

In India, the Bombay sensitive Index tracked Chinese declines, falling 382 points, or 1.9%, to 19,868, but held up the most in the region.
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Daniel M. Harrison is a business journalist specialising in European and emerging markets, in particular Asia. He has an MBA from BI, Norway and a blog at www.theglobalperspective.biz. He lives in New York.




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