Last week, the MSCI Asia Pacific Index cited low as figures were down by 5.7% to 111.73. On Thursday, the index cited 4.1% fall that added majorly in counting the entire loss which had almost all significant short-term technical indicators in negative position, including absence of an oversold signal.

Fall in Asian stocks has been held as the major cause for rolling MSCI Asia Pacific Index to a pathetic level since May 2010. Moreover, companies like Nippon Electric Glass Co. and China Yurun Food Group Ltd. are worried about their future earnings and thus, amid such major mounting concern, Europe is struggling to resolve the debt crisis.

According to reports, Nippon Electric Glass has dropped its profit forecast and even after same, it still fears fall of 12%.

On the other hand, reports said that China Yurun Food, a pork producer is also expecting fall of 31% as the company has recently showed concern over rising material costs, which has made the profits drop.

The reports also talked about Hanjin Shippings, which is South Korea's largest shipping line, which also said that it is expecting 15% fall in its daily limit.