Nikkei ends down 400pts, Asian mkts weak

Asian equity markets took the Wall Street cue, and dropped sharply today on US subprime woes.

The Nikkei finished with a loss of 2.4% (406 points) at 16,764. The Hang Seng, Strait Times and Kospi were all down 2-3% each.

The Shanghai index, however, was down only marginally (0.5%) at 4,730.