Tech, financial, energy stocks suffer big losses in Asia

01/8/2009 | MarketWatch

A sharp drop on Wall Street was followed by declines in Asian markets today as worries about corporate earnings and the U.S. economy flared up again. Hong Kong's Hang Seng Index plunged 3.8%, the Shanghai Composite fell 2.4% and Tokyo's Nikkei 225 Average dropped 3.9%. Taiwan's Taiex lost 5.3%, South Korea's Kospi slumped 1.8% and Australia's S&P/ASX 200 gave up 2.3%. Malaysia's main index dropped 1.9%, Singapore's Straits Times Index slid 2.4% and New Zealand's NZX 50 Index inched down 0.3%.

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