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Asia Markets Continue Falling due to China Growth Concerns, Copper Plunges with Oil and Gold Off

Every major Asia stock market was down in trading today, both in the regular session and futures market due to growth concerns from China, which stated its growth target for 2012 is 7.5%. That is the first time it will have fallen below 8% since 2004. The Hong Kong Heng Seng Index closed down 2.16%. After its strongest Febraury since 1991, the Nikkei 225 Index was off again, falling 60.96 to end the day at 9,637.63, off by 0.63%.

Copper continued to plunge, down more than 2%. Gold and oil were off, too. China is the world's largest consumer of all three commodities. The exchange traded fund for copper, iPath DJ-UBS Copper TR Sub-Idx ETN ( JJC ), is down 2.80% to $48.27, down $1.39 in today's trading. China consumers 38% of the red metal with Europe the next biggest customer at 17%.

ASIA STOCK MARKETS

*NIKKEI 225 Index closed at 9,637.63, down 60.96 and 0.63%.

*HANG SENG Index closed at 20,806.20, down 459.06 and 2.16%.

*Standard & Poor's /ASX 200 Index is at 4,204.73, down 58.23 and 1.37%.

ASIA FUTURES MARKETS

*NIKKEI 225 is at 9,520.00 after reaching a high of 9,640.00 and a low of 9,510.00.

*HANG SENG is at 20,691.00 after reaching a high of 21,147.00 and a low of 20,685.00.

*SPI 200 is at 4,150.00 after reaching a high of 4,209.00 and a low of 4,147.00

COMMODITY INDEXES

*UBS Bloomberg CMCI is at 1,610.82 after reaching a high of 1,638.35 and a low of 1,610.26.

*Standard & Poor's GSCI is at 703.43 after reaching a high of 706.60 and a low of 699.30.

*RJ/CRB Commodity Index is at 316.62 after reaching a high of 318.05 and a low of 316.03.

*Rogers International is at 3,844.99 after reaching a high of 3,902.13 and a low of 3,840.38.

COMMODITIES

*Copper ( JJC ) is at $376.050, down $9.900 and 2.57%.

*Gold ( GLD ) is at $1,673.80, down $30.10 and 1.80%.

*Oil ( USO ) is at $105.59, down $1.13 and 1.07%.

*Corn ( CORN ) is at $656.50, down $4.25 and 0.65%.

CURRENCIES

*USD/JPY is at 80.680, down 1.03%.

*EUR/USD is at 1.3125, down 0.69%.

*GBP/USD is at 1.5751, down 0.70%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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