Thursday, March 20, 2008

Shanghai Index Down More Than 6 Percent


China's Main Stock Index Down More Than 6 Percent; Hang Seng, Kospi Also Lower in Early Trade

HONG KONG (AP) -- Asian stock indexes fell in early trading Thursday as investors took a cue from overnight losses on Wall Street.

China's benchmark Shanghai Composite Index was down 6.5 percent to 3,516.33 amid mounting worries over the likely impact of a U.S. recession on China's own booming economy.

Hong Kong's blue chip Hang Seng index fell 4.4 percent to 20,896.14 after the market opened Thursday.

Elsewhere in Asia, South Korea's Kospi Composite Index fell about 1.6 percent. Japanese markets are closed for the Vernal Equinox holiday.

The Asian markets tracked weakness on Wall Street, where the Dow Jones industrial average fell 2.4 percent to 12,099.66 Wednesday.









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