Asian stocks start week with drops

<p>Hong Kong and Australian stock markets are down today.</p>

Asian markets have started the week badly today (September 23rd), with the Australian and Hong Kong stock exchanges both down for the day's trading.

Hong Kong's Hang Seng Index declined 0.75 per cent and the Australian Stock Exchange fell by 0.4 per cent, according to a report by

With the Nikkei closed for the day due to a Japanese public holiday, it has been a slow start to the new week for Asian markets.

Global stocks had been supported last week by the news that the US Federal Reserve is holding back on its plans to wind down its quantitative easing scheme.

London's FTSE 100 index rose 1.4 per cent, while the Nikkei gained 1.7 per cent, Frankfurt's Dax was up 1.2 per cent and the Cac in Paris increased in value by 1.1 per cent.

It is now estimated by the Fed that the US economy will grow by between two per cent and 2.3 per cent this year.

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