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Asian shares plunge post ‘poor’ Wall Street week

ASIA

London: Following a poor week on Wall Street, shares across Asia plunged into negative territory in early hours of trading.

Markets also opened after manufacturing activity in the world’s second-largest economy, China, hit a 15-month low at the end of last week, reported the BBC.

The mainland’s benchmark index, the Shanghai Composite, dropped down 1.4 percent to 4,015.89 points.

Hong Kong’s Hang Seng index plunged 1.6 percent to 24,731.69 points.

Japan’s benchmark Nikkei, on the other hand, fell 0.4 percent to 20,471.20.

In South Korea, the Kospi index dropped 0.3 percent to 2,040.56 points.

Investor mood was also dampened as yen gained against the U.S. dollar, making exports more expensive. (ANI)