Libyan unrest sinks Asian markets, airlines plunge

February 22, 2011 09:00


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

BANGKOK — Asian shares fell sharply Tuesday, battered by ongoing unrest in the Arab world, an earthquake in New Zealand and a downgrade of Japan's credit rating outlook.

Oil prices, meanwhile, soared to near $93 a barrel as Libyan leader Moammar Gadhafi struggled to keep his grip on power in the OPEC nation amid violent protests. In currencies, the dollar was higher against the yen, the euro and the New Zealand dollar.

The Nikkei 225 stock average shed 1.7 percent to 10,670.46, Hong Kong's Hang Seng lost 1.9 percent to 23,027.57 and South Korea's Kospi was down 1.8 percent at 1,969.40.

Stock markets in Australia, Taiwan, Singapore and mainland China also retreated.

New Zealand's benchmark lost 0.9 percent to 3,351.1 after a powerful earthquake hit the city of Christchurch, the country's second-largest, causing widespread damage an unknown number of casualties.

Related Content

Breaking news
July 19, 2018
Trump urges Turkey's Erdogan to free jailed U.S. pastor