Asian stocks slump after plane vanishes

Written By limadu on Senin, 10 Maret 2014 | 12.08

HONG KONG (CNNMoney)

The passenger jet, Malaysia Airlines Flight 370, disappeared an hour after takeoff Saturday morning en route to Beijing. At least two of the 227 passengers boarded with stolen passports, raising the possibility of terrorism. Search teams deployed by a number of countries have spotted oil slicks and some debris, suggesting the plane may have crashed, though this has yet to be confirmed.

Stocks in Kuala Lumpur slid 0.6%, with the airline's stock tumbling as much as 16% at market open. Shares of Malaysian Airports fell by 3.6%.

Investors are also watching the uneasy standoff over Ukraine, which continues into this week, adding to concerns that a growing conflict could damage the wider European economy.

Related story: Ukraine crisis: The latest on aid, sanctions and fallout

Stocks in mainland China dropped after February exports fell sharply and the country saw its first corporate bond default. The Shenzhen Composite slid 1.6%, the Shanghai Composite fell 1.2% and Hong Kong's Hang Seng dropped 1.4%.

Japan's Nikkei lost around 1% in morning trading. To top of page

First Published: March 9, 2014: 11:38 PM ET


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