impact of Moody cuts Eurozone debt ratings on stock market

impact of Moody cuts Eurozone debt ratings on stock market : Moody's rating agency downgraded the debt ratings of Italy, Spain and Portugal and placed negative outlooks on France, Britain and Austria. Ratings were also cut for Slovenia, Slovakia and Malta, with Moody's saying all nine were more susceptible to increasing financial and macroeconomic risks from the euro area crisis.

Shortly before the opening bell, Moody's downgraded the debt ratings of Italy, Spain and Portugal and placed negative outlooks on France, Britain and Austria.

The impact of the Moody's cuts is negative on stock market, asian stock market down february 14 2012, Japan's Nikkei 225 index was trading 0.2% lower at 8,975.56 and Hong Kong 's Hang Seng index was trading lower at 20,846.12, down 0.2%. South Korea 's Kospi index was trading 0.3% lower at 1998.59. China 's Shanghai index was trading at 2335, down 0.7%.

The Nikkei index at the Tokyo Stock Exchange ended the morning session 13.39 points lower at 8,985.79. The Topix index of all first-section shares slipped 0.26 per cent, or 2.06 points, to 779.62.

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