Euro zone Debts Crisis impacts on Asia

Eurozone debts crisis has been affected Asian economy. Earlier on 10^th November Japan's Nikkei share index had fallen by 2.9%, South Korea's Kospi shed 3.8% and Hong Kong's Hang Seng index dropped 5.3%.

The European Union has drastically cut its growth forecast for the Eurozone 2012, from 1.8% down to 0.5%. European Commissioner Olli Rehn says, “"Growth has stalled in Europe and there is a risk of a new recession”.

Italy debts led to Eurozone drop into much difficult economic situation. Asian share holder also has been impacted by Italy. However, analysts said the limited reaction in the equity markets showed that concerns over Italy and the health of eurozone economies persist, the guardian writes it.

"The gravitational force is pulling the European area down into a recession, this is why Asian markets are so sceptical," said Arjuna Mahendran from HSBC Private Bank.

 Japan's news agency writes one topic named "tokyo shares quickly dropped 250yan = Eurozone debts crisis impacts on japan's economy and led to japanese shares become cheaper ". It reports some global japanese company such as toyota has dropped to the lowest record in this year.