29 minutes ago
SEOUL, South Korea - Asian stocks plunged Monday after JPMorgan Chase said it would
acquire troubled U.S. investment bank Bear Stearns. The U.S. dollar fell sharply against the
Japanese yen.
Japan's benchmark Nikkei stock index and Hong Kong' Hang Seng index both fell more
than 4 percent. The Korea Composite Stock Price Index in Seoul declined more than 3
percent. Markets in Australia and New Zealand also fell.
JPMorgan Chase said Sunday that it would acquire its rival in a deal valued at $236.2
million — or $2 a share and that the Federal Reserve would provide special financing for
the deal.
News of the acquisition of Bear Stearns, one of the world's largest and most venerable
investment banks, came just before the opening of markets in Tokyo and Seoul.
The buyout was aimed at averting a bankruptcy and a spreading crisis of confidence in
the global financial system. The Fed and the U.S. government swiftly approved the all-
stock deal.
"We are worried about the next step," Shim Jae-youb, a strategist at Meritz Securities in
Seoul, said of nagging concerns in Asia that the trouble in big U.S. banks was unlikely to
be contained just to Bear Stearns.
U.S. stocks fell sharply Friday after the announcement of a Fed plan in conjunction with
JPMorgan Chase to alleviate the liquidity crisis at Bear Stearns touched off concerns about
the severity of credit troubles in the world's largest economy.
The Dow Jones industrial average fell 194.65, or 1.60 percent, to 11,951.09 in New York
on Friday after dropping as much as 313 points earlier.
In Tokyo, the Nikkei 225 stock index, Asia's biggest bourse, fell 514.61 points, or 4.2
percent, to 11,726.99 at the close of the morning session. The index lost 1.54 percent
Friday.
Investors sold shares exporting companies as the dollar sank to 97.11 yen, its lowest level
since Sept. 1995.
Australia's benchmark index fell 2.9 percent, while the New Zealand stock market, the first
to open in the Asia-Pacific, fell 2 percent.
------------------------------------
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/Dems2008/
<*> Your email settings:
Individual Email | Traditional
<*> To change settings online go to:
http://groups.yahoo.com/group/Dems2008/join
(Yahoo! ID required)
<*> To change settings via email:
mailto:Dems2008-digest@yahoogroups.com
mailto:Dems2008-fullfeatured@yahoogroups.com
<*> To unsubscribe from this group, send an email to:
Dems2008-unsubscribe@yahoogroups.com
<*> Your use of Yahoo! Groups is subject to:
Hiç yorum yok:
Yorum Gönder