TOKYO -- Asian stock markets skidded lower Monday, following Friday's ugly performance on Wall Street, as investors remained concerned about the uncertainty surrounding the U.S. presidential election.
In Tokyo, the
closed down 323.9 points, or 2.2%, at 14,664.6 and the
index, which includes all shares listed on the
Tokyo Stock Exchange
, fell 21.3, or 1.5%, to 1395.7.
Besides the distraction of the U.S. election, Japanese investors had to contend with their own political uncertainty, as Prime Minister
tried to avoid a possible vote of no confidence and increasing calls for him to resign. Many in opposition and even some of Mori's own ruling party are concerned about the slow recovery and reform of the economy.
Such an atmosphere did little for volatile technology shares, as
dropped 85 yen, or 3.7%, to 2,190 ($20.27) and
tanked 80 yen, or 4%, to 1,935.
Telcos also moved lower, as wireless operator
fell 40,000 yen, or 1.4%, to 2.86 million and
Nippon Telegraph & Telephone
closed down 20,000 yen, or 2.1%, at 920,000.
The dollar traded at 108.01 yen, up from 107.32 yen Friday.
Elsewhere, Hong Kong's
index also ended in the red, falling 573.7, or 3.7%, to 14,815.7. Dragging it down were
, which dropped HK$2.45, or 4.8%, to 48.30 ($6.19), and
, which shed HK$4.00, or 3.5%, to 111.00.
index tanked 26.2, or 4.6%, to close at 538.9. Contributing to the losses were
Korea Electric Power
, which fell 850 won, or 3%, to 27,250 ($23.96), and
, which slid 13,000 won, or 4.8%, to 259,000.
index fell 295.2 points, or 4.9%, to 5793.5, as heavyweight
plummeted 6.6% to TWD106.50 ($3.32).