Election of Hollande as French president raises concerns about Europe's debt crisis
By mid-morning in Hong Kong every major Asian stock market in the red
Asian equities fell after U.S. jobs data disappointed and the election of François Hollande as French president raised concerns about Europe’s debt crisis.
By mid-morning in Hong Kong, the FTSE Asia ex-Japan index was down 1.8%, with every major Asian stock market in the red.
The Hang Seng was down 2.5%, the Kospi was off 1.6%, and the Nikkei was 2.5% lower. Australia’s S&P/ASX 200 index had dropped 1.5%, and the Shanghai Composite had inched down 0.2%.
U.S., Japanese and Australian bonds rose as investors sought the safest assets. U.S. 10-year yields, which move inversely to prices, fell four basis points to 1.84% by mid-morning in Tokyo, according to Bloomberg.