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Asian stocks down as Syria worries persist

6:08 AM, Sep 4, 2013   |    comments
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BANGKOK -- Possible U.S. military intervention in Syria has sent stock markets lower overseas Wednesday, outweighing positive economic data.

Japan's Nikkei fell 0.8 percent to 13,872.30. South Korea's Kospi dropped 0.2 percent to 1,929.82. Hong Kong's Hang Seng fell 0.6 percent to 22,250.55.

Meanwhile, the price of oil stayed above $108 a barrel on Wednesday. Benchmark oil for October delivery was down 30 cents to $108.24 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.

President Barack Obama has faced difficulty trying to amass support for U.S. military intervention in Syria, where an alleged chemical attack by government forces killed scores of civilians outside of Damascus. But Obama got a critical boost on Tuesday when House Speaker John Boehner (BAY'-nur) said he backed the U.S. president's call for a military strike. That intensified worries about the possible expansion of a conflict in an already volatile region of the world.

Associated Press

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