Asian Market Nikkei closed on a lower note
Asian market Nikkei closed on a lower note as the euro fell further on worries that Europe's woes now included the health of some banks in addition to sovereign debt problems. Masaru Hamasaki, a senior strategist at Toyota Asset Management said: "The fallout on the financial system from the euro zone debt crisis was what the market had feared the most and that's happened. To add insult to the injury, we now have the Korean news. The market tends to react differently to this type of news depending on the day's sentiment, and it's in a position to take everything negatively."
Kenichi Hirano, operating officer at Tachibana Securities said: "We're also unlikely to see the same sort of big buying from foreign investors that we saw earlier this year, since many that had to buy at that point such as pension funds have already reached their investment goals."
The benchmark Nikkei closed down 3.1 percent at 9,459.89.
|