Asian Stock Markets Go Negative

TOKYO: Asian stock markets also witnessed a negative trend Tuesday in the backdrop of yesterdays crash of stock markets in the US and Europe. US major financial group, Citibank announcement relating to the layoff of its over 50,000 employees had further dampened the sentiments of the investors. Following Japans recession and yesterdays slump, the trading today also opened on a negative note and Tokyos Nikkei 225 index was seen plummeted by 1.26 percent. South Koreas Kospi index plunged by 2.3 percent and Hong Kongs Hang Seng index was seen receded by 1.7 percent. Sanghais index was seen rising up by 0.4 percent due to Chinas strong economy and bailout package. On the other hand, Australia and New Zealand stock markets kicked off negative.