U.S. stocks fell Thursday as weaker-than-expected quarterly revenues and forecasts from Kellogg and Colgate-Palmolive weighed, pulling down other consumer-staples companies including Kraft Foods and Procter & Gamble. Furthermore, U.S. small-capitalization stocks edged down as earnings disappointments from utilities and consumer companies added to anxiety over the economic recovery. The negative sentiment returned and followed by most Asian markets.
China's shares ended lower because of liquidity concerns related to Everbright Bank's imminent listing and the fund-raising plans of the country's other lenders. The benchmark Shanghai Composite Index ended down 0.4%. The Shenzhen Composite Index fell 0.1%. Hong Kong Hang Seng Index declined 0.3%.
Taiwan's Taiex Index slumped 0.49%. Other Asian markets dropped. Nikkei 225 Stock Average plummeted 1.64%. South Korea's KOSPI Index plunged 0.65%. Singapore's Straits Times Index fell 0.33%. Malaysia's Kuala Lumpur Composite Index and Indonesia’s Jakarta Composite Index tumbled 0.13% and 0.91% respectively.
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