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Asian stock markets on Thursday took some of their big declines this month, fresh worries about the state fund the U.S. and Chinese economies, and poor corporate news from the United States.
NIKKEI 225 in Japan closed 5.3 percent and the Hang Seng in Hong Kong with 5.2 percent, shed. This echoed a sell-off on Wall Street on Wednesday, the Dow dropped 4.7 percent, pressured by U.S. Treasury decision to change its course on the $ 700 billion bailout package and reduced forecasts from Intel and Best Buy.
In Australia, S & P / ASX 200 index closed 5.9 percent, its lowest level in nearly four years, while the Korean composite stock price index fell 3.2 percent.
As European markets opened, several major indices rose modestly. DAX in Frankfurt rose 0.5 percent and the Paris CAC 40 gained 0.3 percent. In London, the FTSE 100 was 0.7 percent down.
In China, weaker than expected industrial output data released on Thursday highlighted the extent to which the once-booming Chinese economy is also slowing. October 8.2 percent rise was much lower than economists had expected, and significantly down from 11.4 percent growth seen in September.

“Chinese data is increasingly worrying,” said Dariusz Kowalczyk, chief investment strategist at CFC Seymour in Hong Kong.

In the United States, a lowered forecast from Best Buy, the largest U.S. electronics retailer, on the back of slowing consumer expenditure, provided fresh indications that U.S. consumers are reining in spending before The season of Christmas shopping, crucial. That is bad news well beyond the United States, given the importance of U.S. markets to Asian producers.

Thursday, depressed by news electronics makers in Japan: Sony lost 7.3 percent, Canon slumped 6.6 percent and Panasonic dropped 5.7 percent. Shares in Dentsu slumped 8.9 percent after the company cut advertising its annual profit outlook by 20 percent late on Wednesday. Dentsu was the latest in a long list of Japanese companies to be forced into such a review last week.

Japanese economy is faced with the task of further yen appreciation against the U.S. dollar and euro in recent months, which is to make their products more expensive in the United States and Europe.

Although the yen on Thursday eased slightly against the U.S. dollar and euro, currency analysts expect the yen to strengthen further. Japanese currency traded at around 95.60 yen per dollar Thursday, compared with 95.01 late Wednesday in New York.

Investors are now keenly awaiting news of how the Japanese economy during the third quarter of this year. Growth data are expected to be released Monday morning.

Expectations of lower demand for oil in the global economy slows sent at a price of 22-months low of 55 U.S. dollars a barrel.