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Asian Stocks Fall on Weak US Data, Strong Yen

 Phil Amato     Created: 9/28/2009 7:01:32 AM    Updated: 9/28/2009 7:06:17 AM
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SEOUL, South Korea (AP) -- Asian stock markets have been sinking today.

Reports on U.S. manufacturing and home sales released Friday have stoked concerns over recovery prospects in the world's largest economy. As one analyst in Hong Kong puts it: the U.S. economy is "not recovering as fast as we thought." He says the strengthening Japanese yen is also adding "negative sentiment" to markets.

Japan's Nikkei was Asia's worst performer, falling 267.65, or 2.6 percent, to 9,998.33. Hong Kong's Hang Seng index fell 1.7 percent and South Korea's Kospi fell 0.9 percent. Singapore's benchmark dropped 1.2 percent, while China's Shanghai index surrendered early gains to fall 0.4 percent.

©2009 Associated Press. All rights reserved. This material may not be published, rewritten, or redistributed.



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