Asian markets dive after US sell-off

Asian markets crumbled as the sell-off that struck United States stocks reverberated far and wide, with indexes in China and Taiwan plunging around 6 per cent.
Asian markets crumbled as the sell-off that struck United States stocks reverberated far and wide, with indexes in China and Taiwan plunging around 6 per cent.PHOTO: REUTERS

Asian markets crumbled yesterday as the sell-off that struck United States stocks reverberated far and wide, with indexes in China and Taiwan plunging around 6 per cent.

Japan, Hong Kong and South Korea shed about 4 per cent, while Shanghai and Shenzhen lost 5.22 per cent and 6.45 per cent, respectively.

In South-east Asia, the Straits Times Index fell as much as 3 per cent before finishing down 2.69 per cent. Malaysia sank 1.54 per cent.

The stock rout came amid fears that global risks are mounting on the back of rising interest rates and trade tension.

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A version of this article appeared in the print edition of The Straits Times on October 12, 2018, with the headline 'Asian markets dive after US sell-off'. Print Edition | Subscribe