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Article: AUSTRALIAN BOURSE LOGS BIGGEST SINGLE DAY FALL IN FIVE YEARS.
- Article from:
- AsiaPulse News
- Article date:
- February 28, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MELBOURNE, Feb 28 Asia Pulse - The Australian stock market suffered its biggest one-day fall in almost five and half years today as global markets went into meltdown.
The fall was driven by the same factor that has helped pump the market to record highs: China.
The rout began when the Chinese stock market plunged almost nine per cent - its biggest one-day fall in 10 years.
Investors sold on fears the Chinese government would halt speculative investments that had pushed up stock prices to record highs.
And global shares markets that have been hooked on China's boom fell also as stocks exposed to the powerhouse economy - such as ...