Asian markets were sharply down Thursday, tracking losses in Wall Street equities overnight on continued concerns over the European Union and after less than expected gains in November import prices in the U.S. added to the pressure on the markets.
The Nikkei was down 1.2% at the time of writing. The Shanghai Composite was 1.3% lower while the Hang Seng fell 1.9%. In Sydney, the S&P/ASX All Ordinaries gave up 1.2%.
Earlier today, Chinese data added to the disappointment as HSBC's China Purchasing Managers' Index showed the level of activity at mainland Chinese factories contracted further in December.
Also earlier today, the Bank of Japan's key tankan quarterly survey of business sentiment showed a sharper-than-expected deterioration in conditions for larger manufacturers.
In Europe, Italian bonds surged to a record high Wednesday, highlighting fears over the region’s debt situation.
