Asian stock markets expect 1-8% drops over fears that the US credit
rating of Standard and Poor's may decrease.
Nikkei 225 (Japan) according to 07.28 lost 4.43%, making 8694.31
points. The Hang Seng (Hong Kong) dropped by 6.67% to 19123.40 points.
KOSPI (Korea) dropped by 8.11% to 1717.75 points. The SSE Composite
(Shanghai) dropped by 1.03% to 2500.70 points.
US credit rating dropped from AAA to AA+, according to S&P. Fannie Mae
and Freddie Mac reduced the rating too, basing on bonds for Israel on
Monday.
French Economy Minister Francois Baroin confirmed that the European
Central Bank is ready to purchase Spanish and Italian state bonds to
stabilize the situation.
The Hang Seng Index is sensitive to minor changes in economy in China.
It estimates price capitalization of 34 major stock companies.
