23rd December 2011
Asian markets diminished slightly by the close of trading this morning (December 23rd) as investors are losing confidence that the recent EU summit deal will provide long-term stability for the eurozone.
Forex Pros reports Hong Kong's Hang Seng index was down by 2.7 per cent this morning, while in Japan, the Nikkei declined by 1.5 per cent to 8,536, while the ASX 200 was down by 1.8 per cent.
It now appears that the lack of concrete commitments for European economies on how they will work to leaner budgets in the future is having a detrimental impact on Asia.
Earlier this month, stocks in Japan fell following the announcement of the death of North Korean dictator Kim Jong-il. Fears over the possibility of political upheaval in the country have meant Asian markets fear instability as a result of the news.
"Investors are [waiting] to see if the situation in the Democratic People's Republic of Korea (DPRK) will take a turn for the worse," commented Masayuki Otani, chief market analyst at Securities Japan.
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