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
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%.
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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.