Asia falls and UAE follows suit as markets fear for euro zone

Most Asian markets slumped on today, amid persistent investor fears that Europe will not be able to come up with a plan to prevent Greece from defaulting on its debts.

Hong Kong's Hang Seng index lost 2.3 per cent to 19003.16 points. South Korea's Kospi Index fell 1 per cent at 1822.37 points. Benchmarks in Singapore, Taiwan, Indonesia, Australia and New Zealand were also lower.

On the Dubai Financial Market, Emaar Properties was down 0.3 per cent to Dh2.80 a share. Deyaar Development was down 1.1 per cent to 26 fils a share. Air Arabia, the region's largest budget airline, was down 0.4 per cent to 63 fils.

"People are worried about the pace of the global economy," Nabil Farhat, a partner at Al Fajer Securities in Abu Dhabi.

The Dubai Financial Market General Index was down 0.2 per cent to 1467.63 points.

In the capital, Aldar Properties was down 1.6 per cent to Dh1.19 a share. Waha Capital lost 3 per cent to 63 fils a share. The Abu Dhabi Securities Exchange General Index was little changed at 2568.97 points.

Elsewhere in the region, Kuwait's measure was down 0.4 per cent to 5976.00. Bahrain's index was little changed at 1264.02 points. Oman's measure was also little changed at 5743.08 points. Qatar's benchmark was down 0.2 per cent to 8411.70 points. The Saudi Tadawul All-Share Index was down 0.4 per cent to 6144.35 points.

halsayegh@thenational.ae