Asian Market Headlines: Stock Markets All Across Asia Plummet as Investors Pull Out Money.


Even though In the past year I’ve written extensively about the brewing Asian financial storm, I am typing at my desk right now with a heavy heart, today might be the day when history repeats itself — the 1997 Asian Crisis might have come around us.

I was about to leave my office and saw the breath-taking headlines all across Asia:

“Local stocks on Tuesday saw their worst bloodbath in 12 years as investors were shifting some funds back to the US markets. ”

“A global selloff continued in Asia with markets around the region slumping at the open of trading as investors scurried for safety. WSJ’s Peter Stein, Jacob Schlesinger and Jake Lee discuss whether governments in the region have to intervene. ”

“Japan’s Nikkei 225 (NKY) Stock Average and the broader Topix Index both fell more than 6 percent, the most since the aftermath of the 2011 earthquake, and futures trading in Osaka was suspended. Every Asian market outside Sri Lanka retreated after Federal Reserve Chairman Ben S. Bernanke yesterday said a premature withdrawal of quantitative easing would put the U.S. economic recovery at risk.”

“Asian stocks fell, extending a rout that wiped out about $400 billion from the value of global equities yesterday, as Japanese machinery orders declined more than expected and concern grew that central banks from Tokyo to Washington are increasingly reluctant to add stimulus.”

“An exodus from emerging markets threatens to hurt the financing and growth prospects of developing economies that have come to rely on large inflows of foreign capital in the wake of the global financial crisis.”

“”It feels like the party is ending,” said Howard Wong, managing director at Doric Capital Corp. in Hong Kong”

“The U.S. dollar fell against the yen and Japanese stocks sagged after the Bank of Japan held off from taking fresh steps to curb bond market volatility, while Asian shares hit 2013 lows amid worries over slowing growth in China and continued uncertainty on how long the U.S. stimulus will remain in place.”


“Regionally, the trend is that foreign investors are exiting,” Jose Mari B. Lacson, head of research at Campus, Lanuza & Co. Inc.,”

Photo: Spreng Ben

About Author

Fascinated with business models more than super models. Joe is a real estate blogger from Northern NV (based in Reno) stalking the Reno- Lake Tahoe Real Estate market since 2007. He is most at ease (and peaceful) when at home spending time with his beautiful wife Anna and their two kids. (And watching the 2011 2013 NBA Playoffs.)

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