Wednesday, March 4, 2015   

Asian markets track Wall Street losses
(02-04 16:36)

Asian markets slumped Tuesday -- led by a four percent fall in Tokyo -- following a huge sell-off on Wall Street as disappointing US manufacturing data compounded already deep fears about emerging markets.
Traders were also spooked by a warning from Treasury Secretary Jacob Lew, who warned that the US borrowing limit will be reached on Friday, renewing fears of a Washington stand-off and possible default.
Tokyo dived 4.18 percent, or 610.66 points, to 14,008.47. The losses leave the Nikkei 14 percent down since the start of the year, having surged 57 percent in 2013 to mark its best year in four decades.
Seoul fell 1.73 percent, or 33.11 points at 1,886.85 and Sydney lost 1.75 percent, or 90.8 points, to 5,097.1.
Hong Kong plunged 2.89 percent, or 637.65 points, to 21,397.77. Chinese tech giant Lenovo dived 16.40 percent on fears it may have bitten off more than it can chew with the purchase last week of struggling Motorola from Google for US$2.91 billion.
The firm slumped more than eight percent on Thursday in response to the news, before the stock market closed for the Lunar new Year holiday.
Shanghai and Taipei were closed for the Lunar New Year holiday. --AFP   
Other Business breaking news:
Nikkei closes lower (49 mins ago)
Nikkei drops (1 hr 39 mins ago)
Hang Seng lower at break (1 hr 40 mins ago)
Scorned Uber puts positive spin following ban in Japan (1 hr 42 mins ago)
India shares leap after rate cut (1 hr 45 mins ago)
(Mobile World Congress) BlackBerry unveils mid-market Leap phone (03-03 19:22)
European development bank takes Greece to heart (03-03 19:18)
Glencore takes US$1b hit on falling commodity prices (03-03 18:43)
China Unicom reports 15b yuan profit, gains 18m mobile subscribers (03-03 17:58)
Hang Seng, Shanghai down at close (03-03 16:23)

More breaking news >>

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