Asia stocks retreat, Europe lower

By: Associated Press | WSLS-TV 10
Published: November 11, 2008

» Comments | Post a Comment

HONG KONG (AP) - Stock markets in Asia declined and European
markets opened lower today as the luster wore off China's nearly
$600 billion bailout of its own economy.
Weakness on Wall Street also played a role.
Concerns about the global economy sapped enthusiasm over China's
nearly $600 billion package to boost growth.
Tokyo's Nikkei 225 index was down 3 percent as the yen
strengthened against the dollar. In Hong Kong, the Hang Seng
benchmark was 2.2 percent lower.
Australia's benchmark fell 3.6 percent. Markets in Singapore,
South Korea and India also declined.
The Shanghai Composite index, up earlier in the session, fell
1.5 percent despite figures showing the country's inflation rate
eased further last month.
Oil prices fell to near an 18-month low around $60 a barrel
Tuesday in Asia.
One analyst says oil could fall even more.