Asian markets fall on fears about credit

08/13/2008 | MarketWatch

Markets across Asia were cautious Wednesday as weak GDP data hit Tokyo, concerns about global credit markets hindered Mitsubishi UFJ Financial Group and other financial firms, and a weaker yen put pressure on exporters. Tokyo's Nikkei 225 Average dropped 2.6%, the Hang Seng Index in Hong Kong slid 1% and the Hang Seng China Enterprises Index slumped 2%. The Shanghai Composite in China lost 2.5%, Australia's S&P/ASX 200 fell 2%, and the NZX 50 index in New Zealand and Straits Times index in Singapore both inched down 0.7%.

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