INQUIRER.net: Asian markets reverse rally on new European fears

INQUIRER.net Philippine News for Filipinos

Asian markets reverse rally on new European fears Feb 5th 2013, 03:13 Hong Kong—Asian markets tumbled on Tuesday, bringing a recent rally to a juddering halt, as Wall Street and European shares were hit by political concerns in Spain and Italy. The euro also slumped as Spain's prime minister was forced to deny corruption claims, while former Italian premier Silvio Berlusconi vowed to throw a spanner in the works of a government austerity drive ahead of a general election. Tokyo shares lost 0.94 percent, Hong Kong tumbled 1.54 percent, Sydney shed 0.70 percent, Shanghai was 0.39 percent off and Seoul slipped 0.88 percent in morning trade. The losses come after several markets approached highs not seen for several months as confidence slowly r... Keep on reading: Asian markets reverse rally on new European fears Media files: asian-markets.jpg (image/jpeg)

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