Asian markets hit by ECB disappointment
Published on Aug 3, 2012 3:21 PM
HONG KONG (AFP) - Asian markets retreated and the euro came back under pressure on Friday after the European Central Bank (ECB) dashed traders' hopes for strong policy actions to support troubled euro zone economies.
Downbeat earnings reports from two of Japan's biggest electronics firms also weighed on the Nikkei, with Sharp losing more than a quarter of its value in the morning session.
Tokyo fell 1.13 per cent, or 98.07 points, to 8,555.11, Seoul shed 1.11, or 20.72 points, to 1,848.68 and Sydney closed 1.12 per cent, or 48.0 points, lower at 4,221.5.
In the afternoon, Hong Kong shed 1.07 per cent, but Shanghai was 0.27 per cent up.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!