Reuters with CNBC.com
June 4, 2012
The Tokyo market slumped to a 28-year low on Monday as Asian shares dived on fears of a nightmare scenario of euro-zone breakup, U.S. economic relapse and a sharp slowdown in China.
Investors hedged against global financial and economic crisis, heading for havens such as the benchmark 10-year Japanese government bond whose yield fell below 0.80 percent to its lowest since July 2003. Ten-year JGB futures prices jumped to a 19-month high.
The FTSE CNBC Asia 100 Index, which measures markets across Asia, shed 2.1 percent.
Japan’s shares fell sharply, with the broader Topix index hitting a 28-year low, as investors rushed to sell riskier assets on disappointing U.S. jobs data, deepening debt woes for the euro zone and slowing Chinese growth.
This article was posted: Monday, June 4, 2012 at 3:20 am