The day after President Barack Obama signed the debt ceiling bill, the major Asian stock market indexes all closed down Wednesday on fears the economy will continue to stumble.
Japan’s Nikkei index lost 211 points, closing down 2.1 percent and hitting a five-week low, closing at the lowest point since the March earthquake and tsunami devastated the country. Along with the U.S. troubles, Japanese stocks suffered because automaker Toyota posted its first quarterly loss in two years, CNBC said.
The Hang Sang index in Hong Kong lost 1.9 percent of its value, closing down 428 points. And Australia’s ASX index posted its largest loss in 14 months, losing 100 points.
The Korea Composite Stock Price Index in Seoul fell 2.59 percent, with automakers Kia and Hyundai posting significant losses.
China’s major stock market, the Shanghai Composite, was down only slightly, .03 percent.
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