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Markets tumble as auto bail out collapses

Equity markets across Asia tumbled on Friday as the proposed bailout for US automakers collapsed in the US Senate, wiping out the tentative signs of improved sentiment in the region and sending the dollar to a fresh 13-year low against the yen.

The Hang Seng dropped 5.5 per cent to 14,758.39, while the index of mainland Chinese shares traded in Hong Kong lost 6.8 per cent to 7,911.76. The Nikkei ended the day down 5.6 per cent at 8,235.87, while the broader Topix lost 4.2 per cent to 813.37.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Fri Dec 12th, 2008 at 04:26:07 AM EST
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