Asian stocks fall for second consecutive day
FXstreet.com (Barcelona) Asian Stock markets have opened lower on Wednesday, falling to a two week low. on lower oil prices and among spreading concerns over the grim economic outlook.

Tokyo Nikkei Index has declined 1.2%, while Hong Kong s Hang Seng Index dropped 1.9%, and Australian S&P Index dropped 0.9%.

Shangai Composite Index in China has dropped 0.6% as the initial optimism about the government s rescue package wanes.

Energy stocks have devaluated after oil price fell below the $60 a barrel for the first time in 20 months.

In the US, Wall Street closed with losses on Tuesday, with the Dow Jones Average falling 2% and the S&P and Nasdaq indexes dropping 2.2% each. The session started on the positive side as news about the Federal Housing Finance Agency refinancing mortgage to government tied over Fani Mae and Freddie Mac, but selling pressure took over once known that General Motors runs on heavy losses and it seems highly likely it will have to apply for government help.

FXstreet.com
asian stock markets, hang seng index, nasdaq indexes, fani mae, housing finance agency, dow jones average, initial optimism, nikkei index, asian stocks, refinancing mortgage, energy stocks, heavy losses, dow jones, composite index, freddie mac, economic outlook, oil price, oil prices, general motors, forex

Technorati Tags: , , , , , , , , , , , , , , , , , , ,