Posted on 01/21/2010 7:46:38 PM PST by kristinn
The Tokyo Stock Exchange fell 2.72% Friday mid-session after the announcement by U.S. President Barack Obama steps to limit the size and activities of banks.
A break from 11.00 am (0200 GMT) the Nikkei 225 index of blue chips lost 295.40 points (-2.72%) at 10,573.01 points. Losses as high as 2.99% during the morning, the Nikkei touching its lowest level during the meeting since December 28 last.
President Obama attacked head-banks Thursday in announcing his intention to enter into law measures that restrict their size and their activities to stop the excesses that led to the crisis.
(Excerpt) Read more at newstrendstoday.com ...
Failures seem to follow in his wake.
Oh stop worrying. Just print more Yen!
Down -313.21 ( - 2.88%)
At the moment.
Japan's Nikkei 225 was down 3.0%, Australia's S&P/ASX 200 was 1.9% lower and South Korea's Kospi Composite was down 2.5%.
Hong Kong's Hang Seng Index fell 2.5%, Taiwan's main index was down 2.4% and the Shanghai Composite was 2.2% lower. Dow Jones Industrial Average futures were 12 points higher in screen trade.
SNIP
Elsewhere, New Zealand's NZX-50 was down 1.1%, Philippine shares were 1.1% lower, Malaysian shares were down 0.8%, while Singapore's Straits Times Index lost 1.8%, Thai shares were off 1.4% and India's Sensex was down 1.8%.
That's good news if it means that banks will now require 20% down and a verifiable income. When people have skin in the game, they treat their property seriously.
But somehow I don't think CRA is the "excess" he is thinking about.
Just about all the Asian markets are down at the moment. The Nikkei is now down 2.89%, and several other major markets down more than 2%.
This could also be in response to the 2% drop in the DJIA today.
http://finance.yahoo.com/intlindices?e=asia
Yeah. Reuters is also saying it was Obama’s announcement.
http://finance.yahoo.com/news/Asia-stocks-slide-on-Obama-rb-2543378249.html?x=0&.v=3
Tokyo down 288 (-2.65%)
HK down 536 (-2.57%)
India down 423 (-2.42%)
Kyle Bass Is So Bearish On Japan, He Financed His Home In Yen
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.