Updated on
Summary Asian stock markets tumbled after a sell-off on Wall Street caused by heavy falls in commodities.
Resource plays were hit after oil prices fell in New York because of a rally on the dollar and data suggesting demand was slowing in the United States and China, the worlds biggest energy users. Tokyo closed down 1.50 percent, or 147.61 points, at 9,716.65, its biggest percentage loss in a month. Sydney fell 1.76 percent, or 84.1 points, to 4,696.1 and Seoul lost 2.03 percent, or 43.98 points, to 2,122.65. Hong Kong fell 0.94 percent, or 218.04 points, to 23,073.76 and Shanghai lost 1.36 percent, or 39.34 points, to end at 2,844.08.Adding to the US sell-off was a rare, short-lived halt in trading of oil and oil products futures on the New York Mercantile Exchange after gasoline prices hit their daily low limit. However, prices rebounded on bargain hunting in early Asian trade Thursday.
