Nikkei slides below 8,000, Kospi drops under 1,000 (Nikkei -9.6%; Kospi; -10.57%)

Market Watch ^ | 10/24/08 | V. Phani Kumar

[TigerLikesRooster]

Nikkei slides below 8,000, Kospi drops under 1,000

Hong Kong, Australia, Singapore, Taiwan also hit multi-year lows

By V. Phani Kumar, MarketWatch

Last update: 12:12 a.m. EDT Oct. 24, 2008

Comments: 218

HONG KONG (MarketWatch) -- Asian markets suffered further deep losses Friday, with indexes in Japan, Hong Kong, South Korea, Australia, Singapore and Taiwan dropping to their lowest levels in at least three years as fears of a global recession swept across the region.

Japan's Nikkei 225 Average dropped below the psychologically-important 8,000-point level for the first time since May 22, 2003, while South Korea's fell under the 1,000-point level for the first time since June 30, 2005.

"I don't think the turmoil will be finished any time soon. I think it'll continue this quarter and the next. It's very difficult to see the bottom in the near-term," said Hirokazu Yuihama, head of regional strategy at Daiwa Institute of Research in Shanghai. The Nikkei 225 Average plunged 6.5% to 7,912.47 and the Topix index fell 5.3% to 825.25

[TigerLikesRooster]

Ping!

[durasell]

To quote that great 21st century thinker, Keaneau Reeves, “Whao!”

[politicket]

The Dow futures are down 394 points right now!

I hope nobody is long for the market tomorrow.

[Dallas59]

401K for sale..Runs Great!

[Porterville]

poor folks don’t care about the stock market and neither do rich democrats.

Until folks are laid off, after the election, we Republicans and smelling of roses.

[Westlander]

http://www.monex.com/monex/controller?pageid=prices

[dennisw]

But Yen is very strong. At a 13 year high against US Dollar at a time the dollar itself is very strong

[screaminsunshine]

Wonder if there are any companies ..non-union..no debt..cash rich..low tax state.. To buy.

[Cementjungle]

401K for sale..Runs Great!

401K for sale, she has a great personality.

[Ken H]

Runs Great!

Less Taxing!

[Proud_USA_Republican]

The individual investor is completely out of the market right now. Let the hedge funds with their computer controled trading beat themselves up as they are doing now.

[Proud_USA_Republican]

As great a personality as Miss Teen South Carolina?

http://www.youtube.com/watch?v=lj3iNxZ8Dww

[SierraWasp]

A bottom must be getting near with articles like this starting to appear!!!

[bIlluminati]

Must be all those Asians noticing their credit card statements have a deduction for Obama ...

[dalereed]

I guess that bleeding hearts children are going to die since I don't see a bottom until the Dow hits below 3,000.

[SupplySider]

I have to agree. We are still in a panic phase. The real bottom will come, I think, much lower, and when people have given up and are bored and uninterested in the markets.

[eartotheground]

DOG

DXD

[SierraWasp]

"below 3,000"

Hoo boy! I sure hope you're wrong on that one!!! (grimace)

[pointsal]

Didn’t the Nikkei peak in the mid-30’s?
What was the peak and when?