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Asian stocks mixed on Europe debt crisis concerns

Asian stocks mixed on Europe debt crisis concerns

Asian stock markets were mixed in early trading Thursday after the Dow Jones industrial average closed below the 10,000 line for the first time in nearly four months on concerns that Europe's debt crisis could stifle the global economic recovery.
Japan's benchmark Nikkei 225 stock average fell 43.38 points, or 0.5 percent, to 9,479.28.
South Korea's Kospi index edged up 0.2 percent to 1,585.76. Australia's S&P/ASX 200 index was up 0.6 percent at 4,356.20.
Sentiment in Asia was sluggish after the Dow lost 69.30 points, or 0.7 percent, to 9,974.45 Wednesday, closing below 10,000 for the first time since Feb. 8 on fears that Europe's fiscal crisis could cause a slowdown in the global economy.
A Financial Times report that China is reviewing its holdings of European government bonds due to the debt crisis also sparked selling of the euro. China holds the world's largest foreign reserves.
The euro is hovering around a four-year low against the dollar, and its slide has become a symbol of waning confidence in Europe's ability to contain its debt problems.


Updated : 2021-08-04 18:01 GMT+08:00