1. Skip to content
  2. Skip to main menu
  3. Skip to more DW sites
Live TV
Latest audioLatest videos
In focus
Russia's war in UkraineSouth AfricaIsrael-Hamas war

Asian markets

November 10, 2011

Asian stock markets have slumped over the eurozone debt crisis, as the record rise in Italy's borrowing cost fuels global anxiety.

https://p.dw.com/p/Rvk0
The Japanese Nikkei goes down three percent on Thursday
The Japanese Nikkei fell three percent on ThursdayImage: picture-alliance/ dpa

The International Monetary Fund (IMF) chief, Christine Lagarde, has met with the Chinese authorities. Christine Lagarde on Thursday said that she believed Beijing was prepared to let the yuan appreciate further – a step which has been demanded by many US and European leaders. The West accuses Beijing of keeping yuan artificially low to benefit its exporters. "My understanding is that the authorities are prepared to let that appreciation continue in the months and years to come," said Lagarde.

The IMF head said the time was not right to include yuan in the IMF's SDR units; however, she was hopeful that it might happen soon.

IMF chief Christine Lagarde answers questions during a press conference in Beijing
IMF chief Christine Lagarde answers questions during a press conference in BeijingImage: dapd

Political clarity

The head of the IMF expressed concerns about the debt crisis in Italy while discussing the global economic crisis with the Chinese leadership. Christine Lagarde called for "political clarity" on the part of the Italian authorities in dealing with the debt crisis.

Asian markets fall

Meanwhile, the Asian markets reacted negatively on Thursday to the rise of borrowing cost in Italy. Hong Kong’s Hang Seng fell more than five percent and in Tokyo, the Nikkei went down almost three percent. Shanghai shed 1.80 percent whereas Seoul dived 4.94 percent. On the other hand, oil prices plunged in Asia over the fears that the eurozone debt crisis could negatively affect the global energy demand.

Agencies: Reuters, AFP / ss
Editor: Sarah Berning

Skip next section Explore more

Explore more

Hu Jintao with Austrian President Heinz Fischer

China stops short of pledging cash help for eurozone

China stops short of pledging cash help for eurozone

Chinese President Hu Jintao has begun a three-day visit to Austria, assuring leaders that they can overcome economic crisis. But questions remain about the extent to which China will contribute to the recovery effort. (31.10.2011)
October 31, 2011
Symbolic photo: one-euro coin lying on Chinese ten- Yuan bank note

China reluctant to fund eurozone bailout

China reluctant to fund eurozone bailout

President Hu Jintao has begun a three-day visit to Austria ahead of a crucial G20 summit in Cannes as China, rich in cash from exports, reacts cautiously to overtures asking it to help Europe out of its debt crisis. (31.10.2011)
October 31, 2011
Hu Jintao alights from an airplane.

Chinese investment in Europe not a 'question of choice'

Chinese investment in Europe not a 'question of choice'

Chinese premier Hu Jintao comes to Europe as European nations try to win Chinese help for their troubled economies. China expert Jonathan Holslag argues that Beijing has little alternative but to invest in Europe. (31.10.2011)
October 31, 2011