Asia shares are feeling the heat today after Wall St had its biggest loss since April 20. The Nikkei -2.6%, HSI -3.2%, ASX200 -2.8%, NZ50 -1.5%, Kospi-1.7% and Taiwan -1.2%.
In Japan exporter shares fell, with the likes of Toyota down 3%, not helped by a stronger Yen either. Nikon -6.2% after forecasting anannual loss as chipmakers slash spending. Chipmaker NEC fell 10% after being dropped from the MSCI Japan Index.
In Australia, RIO led the miners lower, plunging over 10% on the back of talks that the Chinalco deal being scrapped and a rumored rights issue to come. BHP also falling by 5.1%. Elsewhere Leighton Holdings fell 6.5% after reporting a 41% fall in the first nine months. All banking stocks were also lower with CBA leading the push, down 3.1%.
Financial stocks were weak in Korea, KB Financial -2.5%.
Risk aversion was helping the US dollar against Asian currencies, USDMYR at 3.5490 up from 3.5240 yesterday, USDKRW at 1261 up from 1239.
