FinFacts Ireland – Asian stocks continued falling on Tuesday and in Tokyo, the Nikkei-225 index closed 1.63% down, at 15,599.20 and the broader Topix index fell 2.3%. Mitsubishi UFJ Financial Group Inc. fell after the lender forecast a 37% drop in profit.
The Morgan Stanley Capital International Asia-Pacific Index, which tracks about 1,000 regional companies in 14 markets, fell 0.9 percent to 128.89. The index has fallen 10 percent since reaching a record on May 8th.
The Philippine Stock Exchange Index fell 4%, the region’s biggest faller.
Stocks in developing countries tumbled Monday, extending one of their biggest losing streaks in nearly a decade, as growing worries about the global economic outlook amid rising interest rates, prompted investors to abandon riskier markets world-wide.
The pullback in markets stretched from Turkey, India, Russia to Brazil.
