In the US, the Friday after Thanksgiving is known as "Black Friday". The market reacted quite well, and HK followed suit yesterday going up more than 1,000. But last night, amid concerns about the fall out from sub prime, credit woes and recession fears, the Dow industrials tumbled roughly 240 points, more than erasing their bounce on Black Friday. The financial sector was particularly hard-hit, with Citigroup sinking 6% to less than $30 a share and Goldman Sachs off 4%. The yield on the 10-year Treasury note plunged to a two-year low.
Asian markets followed the US lead down, though Tokyo and South Korea recovered from early losses to finish higher.
Market Indices
Australia All Ordinaries 6493.60 - 0.61%
Bombay Sensex* 19143.32 - 0.54%
Hong Kong Hang Seng 27210.21 - 1.51%
Japan Nikkei 15222.85 + 0.58%
Shanghai Composite 4861.11 - 1.97%
Singapore STI 3372.64 - 1.34%
South Korea Composite 1859.79 + 0.24%
Taiwan Weighted 8375.76 - 1.79%
*Late trading
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