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SINGAPORE: Markets around the world on Monday suffered heavy losses amid worries over the global financial system after troubled US bank Lehman Brothers announced it intended to file for bankruptcy, dealers said.
London's FTSE 100 index of leading shares slumped 2.94 per cent to 5,257.70 points in opening trade. The FTSE 100 slipped 0.72 per cent in first minutes of trading before quickly sliding further rapidly.
Frankfurt's DAX stock index opened 1.55 per cent lower at 6,138.42 points, Milan slumped 2.84 per cent, while the French stock market opened with a fall of 2.48 per cent on the CAC 40 index of leading shares.
Taiwan's share prices closed down 4.09 per cent, its weighted index falling 258.23 points to 6,052.45, off a low of 6,020.70 and a high of 6,202.14, on turnover of US$2.28 billion.
At mid-day, Jakarta was down 2.93 per cent, Bangkok was 1.36 per cent lower, and Kuala Lumpur fell 1.46 per cent.
Singapore's benchmark Straits Times Index as also in the red, falling 3.05 per cent.
Indian shares tumbled 5.19 per cent within minutes of opening with the BSE benchmark 30 share Sensex index slumping 727.95 points to 13,272.86. Sentiment was also impacted by blasts that rocked New Delhi on Saturday.
Australian share prices dropped 1.8 per cent. Benchmark SP/ASX200 closed down 86.1 points at 4,817.7 led by heavy losses in the financial sector, while the broader All Ordinaries dropped 82.1 points to end the day at 4,875.
New Zealand share prices fell 1.26 per cent, with benchmark NZX-50 index down 41.78 points to 3,319.90 on turnover worth US$55.03 million.
Financial markets are closed Monday in Japan, China, Hong Kong and South Korea for a public holiday.
They will reopen on Tuesday.
- CNA/yb
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