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Latest Business News

U.S. Treasury Secretary Starts Asia Tour

Monday, March 05, 2007 5:04:47 AM
By HANS GREIMEL

 U.S. Secretary of the Treasury Henry Paulson gestures as he addresses the media at the G7 Finance Ministers Meeting in Essen, Germany, Saturday, Feb.10, 2007. (AP Photo/Yves Logghe, File)TOKYO (AP) - U.S. Treasury Secretary Henry Paulson kicked off a three-nation Asian tour in Tokyo on Monday amid turmoil in regional stock markets and the dollar's sudden drop against the yen.

Paulson will also meet top leaders in China and South Korea during his five-day swing through Asia, where most markets have plunged ever since Chinese stocks tumbled 9 percent last Tuesday.

Tokyo's Nikkei 225 index plunged 3.34 percent Monday, while the U.S. dollar meanwhile dropped to around 115 yen from above 120 yen less than a week ago.


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