The global investor sentiment has also affected the Asian markets which ended in the red on the concerns that prospects for economic revival is difficult.
The Hang Seng tumbled 453 points(2.5%) to 17,254.
The Nikkei dropped 237 points to 9,050.
The Straits Times and the Shanghai Composite declined 38 points and 33 points to 2,270 and 3,080, respectively.
The Seoul Composite and the Taiwan Weighted shed 50 points and 239 points (3.5% each) to 1,378 and 6,530, respectively.
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(Updated 1134 hrs)
Asian markets continue to trade in red.
Japanese stocks have dropped ahead of the corporate earnings season. The Nikkei has shed 194 points (2%) at 9,093. The Hang Seng has slumped 365 points (2%) to 17,344.
The Taiwan Weighted has plunged 239 points (3.5%) to 6,531. The Seoul Composite has slipped 40 points (3%) to 1,389. The Straits Times has declined 37 points (1.5%) to 2,271.
The Shanghai Composite is flat at 3,104 - down 10 points.
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(Updated at 0805 hrs)
The Asian markets today have opened on a negative note.
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The Hang Seng has plunged 373 points or 2% to 17,336.
The Nikkei has dropped 94 points or 1% to 9,193.
The Shanghai Composite has slipped 28 points or 1% to 3,085.
The Straits Times has declined 26 points or 1% to 2,282 and the Seoul Composite is down 28 points or 2% at 1,400.
The Taiwan Weighted Index has shed 204 points or 3% to 6,567.