Asian markets drop on concerns about global economic woes

09/11/2008 | MarketWatch

Concerns about slowdown in the global economy and issues within financial markets caused Asian markets to fall Thursday. The Hang Seng Index in Hong Kong fell 3.4%, and the Hang Seng China Enterprises Index plunged 5.5%, tumbling to less than the psychologically important level of 10,000 points. China's Shanghai Composite lost 3.4%, the Nikkei 225 Average in Tokyo declined 2% and the broader Topix index shed 2.5%. After rallying on an interest-rate cut, New Zealand's NZX 50 index inched down 0.3%. Australia's S&P/ASX 200 dropped 1.9%, and South Korea's Kospi slid 1.5%.

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