Asian Market Update : Epic Research Malaysia

Asian stocks slumped, with Japanese and Australian shares on the cusp of joining China in a bear market, as concern grew over the strength of the global economy amid a continuing collapse in oil prices.

The MSCI Asia Pacific Index lost 1 per cent to 118.94 as of 11:10 am in Tokyo, extending this year's slide to 9.9 per cent. Japan's Nikkei 225 Stock Average declined 1.4 per cent after plunging as much as 2.8 per cent in early trading. The gauge is down 19 per cent from a June peak. A drop of more than 20 per cent at the close would meet the definition of a bear market. Australia's S&P/ASX 200 Index slipped 0.7 per cent, and is currently down 19 per cent from an April high.

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