Asian shares fall after Goldman Sachs profit drop
11 April 2012
Asian shares retreated today, deflated by steep profit declines at US financial companies that sent Wall Street lower.
Japan's Nikkei 225 stock average led the region's decline, shedding 1.1% to 10,440.00 as investors sold banking stocks.
South Korea's Kospi lost 0.5% to 2,105.23 and Australia's S&P/ASX 200 was down 0.8% at 4,799.5.
Benchmarks in mainland China, Taiwan, Singapore and New Zealand also fell.
In New York yesterday, stocks suffered their largest one-day decline since November after Goldman Sachs said its earnings fell 53% in the last quarter.
The company blamed a slowdown in its trading and investment banking businesses.
