17 Jun '11, 12pm

IM$avvy Headlines: Asian #markets crash on Greece debt woes #finance #investment

FEARS that the simmering Greek debt crisis is about to spiral out of control and ignite another global credit meltdown sent Asian share markets crashing yesterday. Related Link ASIA'S MARKETS BATTERED Blood was spilt across the region, with big losses in Sydney, Taiwan, Hong Kong and, most worryingly, China, which has been the engine for world economic growth over the past year. Singapore avoided taking a direct hit, but still fell 1.14 per cent, bringing the Straits Times Index (STI) perilously close to going below the 3,000-point level. Traders fear that once that barrier is breached, there could be a rush for the exits. Yesterday's drops were just one more turn of the screw for regional investors, who have seen their portfolios sliced thinner in recent weeks as faltering markets keep inching down. 'By themselves, the daily fall in share prices is almost negligible. But ...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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