Asia Markets 6/10/2008 Shanghai Collapses (LFC)(CN)(SNP)

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Markets in Asia were down sharply and shares in China collapsed as the government put in new inflation-fighting measures.

The Nikkei fell 1.1% to 14,021. KDDI fell 2.3% to 675000. NEC rose 1.3% to 566.

The Hang Seng dropped 3.9% to 23,456. China Life (LFC) was down 4.7% to 29.30. China Netcom (CN) fell 7.6% to 21.25. China Petroleum (SNP) fell 6.8% to 7.69.

The Shanghai Composite fell 7.7% to 3,072. Bank of China dropped 7.9% to 4.33. A number of stocks fell over 10%.

Data from Reuters

Douglas A. McIntyre