Asian stock markets fall again ,
Asian stocks swung mostly lower in choppy trade on Monday as investors braced for more volatility after last week’s massive sell-off.
Japanese shares, though, staged a moderate rebound as investors bought back battered export-linked shares on the yen’s retreat from a 13-year high. The benchmark Nikkei 225 stock average rose 30.42 points, or 0.4 per cent, to 7,679.50.
Elsewhere, Hong Kong’s Hang Seng Index dropped 3.6 per cent and Australia’s key stock measure was trading about 1.7 per cent lower.
In South Korea, the Kospi skidded 1.8 per cent even as the country’s central bank slashed its key interest rate, by 0.75 per cent, for the second time this month in a bid to boost the economy and reverse the market’s recent slide.
"Investors aren’t totally convinced the worst is over yet,” said Alex Tang, head of research at Core Pacific-Yamaich in Hong Kong. "We’re probably moving sideways this week and will see more volatility."
In Japan, the Nikkei index opened lower despite a report that the government was considering massive capital injection into struggling banks in a bid to calm jittery financial markets.
"The reported plan by the government hardly cheered investors. What the market really wants is a package of stimulus measures to boost the Japanese economy," said Kazuki Miyazawa, market analyst at Daiwa Securities SMBC Co. Ltd.
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