Asian markets down after US losses, Europe warning

HONG KONG: Asian markets were down Thursday after losses on Wall Street, while dealers were also put off by a warning from Germany's central bank that Europe's debt crisis could continue for a decade.

Gold slipped slightly as traders remain bearish on the precious metal, which suffered its heaviest loss in 30 years on Monday after disappointing Chinese economic growth data.

Tokyo fell 0.40 percent by the break, Sydney slipped 0.65 percent and Seoul lost 0.33 percent, while Hong Kong lost 0.10 percent and Shanghai was 0.20 percent off.

US markets suffered their second big fall in three days Wednesday, pulled down by a dive in Apple shares.

Apple fell 5.5 percent to below $400 for the first time since late 2011 after one of its US suppliers slashed its profit guidance, which analysts said indicated slow iPhone and iPad sales.

Adding to the downbeat sentiment in New York was Bank of America's below-forecast earnings for the January-March quarter.

The Dow fell 0.94 percent, the S&P 500 dropped 1.43 percent and the Nasdaq lost 1.84 percent.

On forex markets, the dollar was trading at 98.12 yen in early trade, against 99.19 yen in New York late Wednesday.