Asian shares make sharp losses

Asian shares make sharp losses

Asian shares make sharp losses

Written by Staff Writer

29 Sep, 2015 | 10:03 am

Asian shares have headed sharply lower, following the rout in global equities as fears over growth and lower commodity prices grow.

Japanese shares hit an eight-month low as investors awaited the Bank of Japan’s Tankan quarterly business confidence survey, due on Wednesday.

Investors are looking for signs of growth in the Japanese economy, which has struggled to pick up momentum after shrinking in the second quarter.

The Nikkei 225 index was down 3.2%.

The benchmark index was at 17,086.27 points after falling to its lowest level since January in early trading.

Weak Chinese industrial profits on Monday added to worries about the world’s second largest economy.

Investors are looking ahead to manufacturing surveys on Thursday for more information on the extent of the slowdown in China.

Meanwhile markets in South Korea are closed for public holidays.

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