{"id":10489,"date":"2011-09-26T05:09:17","date_gmt":"2011-09-26T05:09:17","guid":{"rendered":""},"modified":"2011-09-26T05:09:17","modified_gmt":"2011-09-26T05:09:17","slug":"Asia-stocks-drop-amid-recession-fears","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=10489","title":{"rendered":"Asia stocks drop amid recession fears"},"content":{"rendered":"<p><strong>Asian stock markets fell Monday as investors grew increasingly convinced that Greece would default on its debts, an event that economists say has the potential to spark a global downturn.<\/strong><\/p>\n<p>Oil prices hovered below $80 per barrel while the dollar strengthened against the euro but was lower against the yen.<\/p>\n<p><strong>Japan&#8217;s Nikkei 225 index hit a six-month low<\/strong>, falling 1.7 percent to 8,416.67 as a stubbornly strong yen weighed on the country&#8217;s export sector, making its products more expensive overseas. It was the lowest midday price for the Nikkei since March 15, when it hit 8,227.63 in the aftermath of the earthquake-tsunami disaster.<\/p>\n<p>Consumer electronics giants Panasonic Corp. fell 3.4 percent and Sharp Corp. lost 4.4 percent. Isuzu Motors Ltd. tumbled 5.3 percent.<\/p>\n<p>South Korea&#8217;s Kospi fell 1.7 percent to 1,667.76 and Hong Kong&#8217;s Hang Seng fell 1.8 percent to 17,352. Australia&#8217;s S&#038;P\/ASX 200 fell 0.5 percent to 3,882.20.<\/p>\n<p>Investors have been waiting in vain for news that Greece will receive the next installment of a bailout package in time to avoid defaulting on its debt next month.<\/p>\n<p><strong>If it defaults, banks throughout Europe are likely to lose the money they invested in Greek bonds \u2014 an event that could ultimately lead to a recession in Europe and worsen economic problems in the U.S.<\/strong><\/p>\n<p>&#8220;People expected over the weekend that European finance ministers and IMF officials would probably announce some concrete plans to stabilize the eurozone. <strong>But it came out empty again,&#8221; said Jackson Wong, vice president at Tanrich Securities in Hong Kong.<\/strong><\/p>\n<p><em>Source yahoo.com<\/em><br \/>\n<!--break--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asian stock markets fell Monday as investors grew increasingly convinced that Greece would default on its debts, an event that<\/p>\n","protected":false},"author":1,"featured_media":70655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[],"tags":[],"class_list":["post-10489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"magazineBlocksPostFeaturedMedia":{"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"colormag-highlighted-post":false,"colormag-featured-post-medium":false,"colormag-featured-post-small":false,"colormag-featured-image":false,"colormag-default-news":false,"colormag-featured-image-large":false,"colormag-elementor-block-extra-large-thumbnail":false,"colormag-elementor-grid-large-thumbnail":false,"colormag-elementor-grid-small-thumbnail":false,"colormag-elementor-grid-medium-large-thumbnail":false},"magazineBlocksPostAuthor":{"name":"Admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/53e6cdc30765aade0129f85e5aeb50124b1d3f5bb9a70373be31e4eb328371e0?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"Asian stock markets fell Monday as investors grew increasingly convinced that Greece would default on its debts, an event that","magazineBlocksPostCategories":[],"magazineBlocksPostViewCount":122,"magazineBlocksPostReadTime":2,"magazine_blocks_featured_image_url":{"full":false,"medium":false,"thumbnail":false},"magazine_blocks_author":{"display_name":"Admin","author_link":"https:\/\/asiancemagazine.com\/?author=1"},"magazine_blocks_comment":0,"magazine_blocks_author_image":"https:\/\/secure.gravatar.com\/avatar\/53e6cdc30765aade0129f85e5aeb50124b1d3f5bb9a70373be31e4eb328371e0?s=96&d=mm&r=g","magazine_blocks_category":"","_links":{"self":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/10489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10489"}],"version-history":[{"count":0,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/10489\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/media\/70655"}],"wp:attachment":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}