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To: Sam who wrote (56500)6/4/2012 12:38:07 AM
From: Donald Wennerstrom2 Recommendations  Respond to of 95422
 
Tokyo Hits 28-Year Low Amid Global Rout

Published: Sunday, 3 Jun 2012 | 11:33 PM ET

By: Reuters with CNBC.com

Asian shares tumbled on Monday, pushing the broader Tokyo market to a 28-year low, as investors extended a rout of global stocks and worried about a nightmare scenario of euro-zone breakup, U.S. economic relapse and a sharp slowdown in China.

Investors hedged against global financial and economic crisis, heading for havens such as the benchmark 10-year Japanese government bond whose yield fell below 0.80 percent to its lowest since July 2003. Ten-year JGB futures prices jumped to a 19-month high.

The FTSE CNBC Asia 100 Index [.FTFCNBCA 5529.58 -128.65 (-2.27%)] , which measures markets across Asia, shed 2.1 percent.

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cnbc.com