Stocks slump in Asia, Tokyo -1.3%, fear of Fed cuts

(ANSA) Milan, August 31 - Trading opened negatively in Asia on Monday, affected by concerns over a possible increase in Federal Reserve rate cuts in September.
    Tokyo recorded -1.3%, making August the worst in the last three years, 8.5% down. Hong Kong was also weak (-0.27%), Shanghai contained losses at 0.82% while Shenzen was down 3.06%. In Milan the Ftse Mib was -0.09% on 21,968 points.
    Eni was up 3.75% thanks to its giant gas discovery in Egypt, while Saipem recorded a 1.3% increase. Frankfurt (-0.63%) and Paris (-0.77%) both opened negatively.