France - May 7, 2012 - 07:54
Asian stock markets have plunged this morning, on the back of election wins for left-wing parties in the French presidential and Greek parliamentary elections.
Japan's Nikkei-225 index fell by 2.7 per cent this morning, and Hong Kong's Hang Seng slid 2.4 per cent. Australia's S&P/ASX 200 lost 1.8 per cent and South Korea's Kospi fell by 1.7 per cent in the wake of the news from Europe, which has investors worried that the French and Greek governments will renege on promised budget cuts.
Financial spreadbetters, meanwhile, are banking on European indices following the Asian markets' lead. Based on current data, futures investors are expecting Frankfurt's DAX to open around 2.3 per cent down, and Paris to fall by 2.1 per cent.