Sell-Off Turns Asian Dealers' Screens Red; Market Report in Hong Kong
Heath, Ray, The Evening Standard (London, England)
Byline: RAY HEATH
TECHNOLOGY stocks crashed to record lows on Asian markets as investors panicked on fears of collapsing earnings, and the sell-off turned dealers' screens red.
In Japan, economic woes added to the black outlook for telecoms, media and technology stocks. In Hong Kong, locally quoted Chinese mobile phone operators led a rout of nearly 3% of the Hang Seng index, while South Korea's semiconductor manufacturers hit new lows and dragged the market down by 3.75%.
The mayhem followed last Friday's slump in New York, which took Nasdaq's loss for the week to more than 7%.
Earnings warnings that hammered US stocks have been echoed in Asia, …
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Publication information:
Article title: Sell-Off Turns Asian Dealers' Screens Red; Market Report in Hong Kong.
Contributors: Heath, Ray - Author.
Newspaper title: The Evening Standard (London, England).
Publication date: July 9, 2001.
Page number: 44.
© Not available.
COPYRIGHT 2001 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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