Asian stocks fell today as global growth worries stung Wall Street, sending investors scampering to the relative safety of the yen and government debt. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3 percent, with Australia down 1.3 percent and South Korea falling 0.8 percent. Japanese markets are shut through today. Fresh cracks in the commodities complex, amplified by drops in copper, raised concerns that a China-led slowdown may pose significant headwinds for riskier assets, particularly equities. The head of the International Monetary Fund said yesterday that downside risks to global growth have increased and the weak economic outlook will make achieving world development goals more difficult than in the past, Yesterday, the Asian Development Bank lowered its growth forecast for China to 6.8 percent for 2015.
News On AIR | September 23, 2015 7:51 AM
Asian stocks fall as global growth worries stung Wall Street