Asian Shares Hit One-year Low On Turkey China Worries


TOKYO – Asian shares hit fresh one-year lows in early trading on Thursday, while oil and precious metal prices also tumbled as Turkey’s currency crisis and fears of an economic slowdown in China fanned worries about global growth.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 1.0 percent, while Japan’s Nikkei .N225 and the Australian benchmark dropped 1.2 percent and 0.4 percent, respectively.

Chinese stocks continued to sag, with the Shanghai Composite Index .SSEC and Hong Kong’s Hang Seng index .HSI shedding 1.1 percent and 0.9 percent, respectively.

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