US unemployment figures have reached a five-year high on the 10^th of March 2008. This has fueled apprehensions about an oncoming recession in the US economy. In an interlinked world economy this is expected to lead to a decline in US demand for Asian exports. Recession is essentially a slowing down of an economy. Asian stocks declined across the continent in response to the US unemployment statistics. At places local socio political factors coupled with the fear of recession plunged the Asian stocks down on 10^th March 2008.

MSCI Asia Pacific in Tokyo has declined by 1.2% to 137.95 by mid-morning. Nikkei 225 average stood at 12,572.67 in Tokyo. It was a fall of 1.6 %. Topix was at 1,229.00 recording a decline of 1.5%. Platinum futures declined in February and stood at Y6, 707 per gram for delivery. This was influenced by the surging yen and a fast declining spot price.

Hang Seng index of Hong Kong at lunchbreak was at 22,159.04, a fall of 1.5 %. Mainland Chinese shares traded in the region as indicated by the relevant index was at 12,150.25 a loss of 3.6 %. Li & Fung declined 1.1% to HK$26.70. It supplies in bulk to Wal-Mart. Shares in Shanghai fell 2.6% to 4,190.25. China Railway Construction recorded a 27.8 % increase to Rmb11.60 on the first trading day. However, this was a modest figure as compared to the last 2 years

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