Asian shares take a battering as mounting worries about the health of European banks further threatened a global economic outlook already under strain from falling oil prices and slowdowns in China and other emerging markets.
HONG KONG, CHINA (FEBRUARY 12, 2016)(REUTERS) – Asian shares slid on Friday as mounting concerns about the health of European banks further threatened a global economic outlook already under strain from falling oil prices and slowdown in China and other emerging markets.
Hong Kong shares opened over a one percent lower following a poor start to the Chinese New Year, with stocks slipping almost four percent in the previous days trade.
South Korean shares fell more than 1 percent on Friday as equity markets extended their slide on worries over the health of the global economy.
Australian shares fell 1 percent on Friday on worries about global growth, which hauled down most stocks except gold miners, which continued to climb as gold prices surged to a one-year high.
The S&P/ASX 200 index was down 49.78 points at 4,772.8 by 0220 GMT, erasing all of the previous session’s gains.