Asian Markets Edge Lower

Asian markets were little affected by the International Monetary Fund chief’s arrest on attempted rape charges in New York over the weekend.

Japanese authorities were quick to seek to reassure the public that the IMF functions were not affected by the arrest of International Monetary Fund Chief Dominique Strauss-Kahn.

[Yukio Edano, Chief Cabinet Secretary]:
„We believe the IMF is functioning smoothly under the first deputy managing director.“

The leading Japanese benchmark Nikkei average fell today, but mostly on jitters about global economic growth.

The Japanese market was also affected by the loss in bank stocks around concerns about their loans to Tokyo Electric Power Company – the owner of the troubled nuclear reactor in Fukushima.

In Seoul, shares opened lower today weighed by losses in key large cap auto and technology plays including LG Electronics and Hyundai Motor.

But refiners like S-Oil climbed after crude oil prices rose.

The KOSPI was down 0.9 percent at 2,100.98 points.

Hong Kong’s Hang Seng Index was set to lose ground with stubbornly high consumer prices in both Hong Kong and China.

Concerns over further measures to curb inflation are likely to keep investors wary in the Chinese market.

Foto: NTD