ECON Asia stocks tumble, with weak euro hitting Tokyo - TONIGHT

Thought you all might be interested. I'm not going to keep up with it, but you can if you want to.

Update: Asia stocks tumble, with weak euro hitting Tokyo - @MarketWatch

Submitted 5 mins ago from www.marketwatch.com by editor

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May 30, 2012, 9:11 p.m. EDT

Asia stocks tumble, with weak euro hitting Tokyo
By Virginia Harrison, MarketWatch

SYDNEY (MarketWatch) — Asia markets sank early Thursday, echoing sharp falls on Wall Street overnight, as worries about Spain and Italy sparked fears of a deteriorating situation in Europe.

Japan’s Nikkei Stock Average JP:100000018 -1.86% gave up 2.0% within the opening minutes, while South Korea’s Kospi KR:SEU -1.29% dropped 1.5%, and Australia’s S&P/ASX 200 index AU:XJO -1.24% lost 1.2%.

For the month, Japan’s index was on track for an 11.1% loss, South Korea was off by 8.2%, and Australia was trading down 8%.
Click to Play
Who's at the door? Japan, and they're buying!

Cash-rich Japanese companies are going on a worldwide buying spree, and they’ve learned lessons from the 1980s. Photo: Bloomberg News.

European fears had knocked U.S. stocks sharply lower Wednesday, as bond yields in Spain and Italy surged, while fresh polls showing Greek support for anti-austerity parties added to uncertainty surrounding the future of the euro currency bloc. Read more on the U.S. session.

“Hopes that Spain can manage without some sort of bailout package are fading fast,” Capital Economics European economist Mark Miller said.

The concerns hit the euro EURJPY -0.29% , with the single currency’s Japanese yen cross-rate falling to ¥97.48 after trading north of ¥99 the previous day.

tons more:

http://www.marketwatch.com/story/asia-stocks-tumble-with-weak-euro-hitting-tokyo-2012-05-30

One more thing I just saw elsewhere:

*snip*

Embry - People Will Be Shocked at the Chaos Heading Our Way

Today John Embry told King World News, “This situation is unprecedented. The world has never, ever been in a condition like this.” Embry, who is Chief Investment Strategist of the $10 billion strong Sprott Asset Management, also told KWN, “anyone that is complacent will be shocked at the chaos that is heading our way.” Here is what Embry had to say about the situation: “I think we’re in an extraordinary place. It’s becoming obvious that Europe is imploding, and the powers that be really don’t have any solutions. I’m very worried about China. Lawrence Summers recently said China may have a year in which it only grows 7% in the next decade.”

continued at link:

http://kingworldnews.com/kingworldn..._Be_Shocked_at_the_Chaos_Heading_Our_Way.html

Thanks for the information. I wonder how this will affect the stock market tomorrow?

The Nikkei website just went down, or is it just me?

Hurry and get to "the other side". "The Lion will lay down with the Lamb". "You Will Learn War No More"

I'm sure Bloomberg will put a happy spin on this. Kinda like their comment about the plunge in consumer confidence and a further drop in home prices this month just showing the economy as "uneven".

Gotta prop up the Messiah.

joekan said:

Thanks for the information. I wonder how this will affect the stock market tomorrow?

Click to expand...

As of 11:15 PM Eastern time, the futures look flat, but there is a long time to go until the open tomorrow...

I just had to check one more thing before I go to bed.

Is this bad?


India's rupee falls to record low of 56.47 against the dollar - @ibnlive

Submitted 1 min ago from ibnlive.in.com by editor

SYDNEY (MarketWatch) — Asia markets sank early Thursday,

What are "Asia markets"? Places where you can go buy Asias? More lazy-a** writing from an illiterate reporter. Try Asian markets next time, Virginia Harrison.

well, I think they will fall, and probably hard . then will come war, count on it, history repeating its self.