Thursday, October 23, 2008
“Sentiment is lousy,” said Dariusz Kowalczyk, chief investment strategist at CFC Seymour in Hong K
HONG KONG – Asian stocks fell for a second day Thursday, with South Korea's market sinking more than 7 percent, as a barrage of downbeat company forecasts deepened fears of a global recession. But in a positive sign, most major indices pared losses in afternoon trading as some investors bought beaten down shares. Japan's Nikkei 225 stock average tumbled 7 percent at the open but recovered some to closed down 2.5 percent at 8,460.98. Hong Kong's Hang Seng Index was down 4.7 percent at 13,603 after falling more than 6 percent earlier.