Asian markets closed lower again today (December 11th) after fresh falls in oil prices led Wall Street to close at its lowest since October yesterday.
Investors were also worried about the situation in Greece, after the country decided to bring forward a presidential election to December 17th instead of February, raising fears of fresh political instability.
"Now you have a combination of worries about oil and what’s happening in Greece, this is likely to be just a profit- taking market," Nader Naeimi, head of dynamic asset allocation at AMP Capital Investors Ltd. told Bloomberg. "In the longer term, you should see falling inflation expectations, and at the end of the day, it should have a stimulatory effect globally."
Chinese shares were down on profit taking after yesterday's strong gains. The benchmark Shanghai Composite index finished down 0.49 per cent at 2,925.74.
Hong Kong's Hang Seng index dropped 0.90 per cent to finish at 23,312.54, while the benchmark Nikkei average fell 0.89 per cent to 17,257.40, and the broader Topix index eased 0.7 per cent.
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