The stock exchanges in Asia and the Pacific fell for the first time this week after growing concerns among investors about the recovery of U.S. economy prompted them to seek less risky assets like the yen, the dollar and government bonds. Shares of Japanese exporters have suffered most due to the appreciation of the yen to its strongest level against the dollar for the past 15 years. A strong yen makes goods of local producers more expensive on foreign markets and reduce their earnings after conversion into local currency. Shares of Canon and Sony fell more than 3 percent of the exchange in Tokyo for expensive yen. Shares of Toyota and Honda in turn lost around 2% because data for the decline in U.S. sales in July. Chinese mining companies fell after a decline in metal prices. Regional stock measure MSCI Asia Pacific, which oversees securities markets in ten Asian countries, Australia and New Zealand, losing 0.6 percent, disrupting its good performance from the previous two days, which brought him an increase of 2.2 percent. Most now come down shares of companies and consumer technology sector in its composition. Both groups decreased by more than 1%. MSCI Asia Pacific, however, reduced the loss of its highest point this year, celebrated on April 15, half to 6.3 percent.
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The stock market indexes in Asia and the Pacific region began August with strong increases that helped regional stock measure MSCI Asia Pacific to increase for the sixth time in seven days. MSCI Asia Pacific, which includes almost 1000 stock companies from ten Asian countries plus Australia and New Zealand ended last week with growth of 1.4 percent and July – a lead of 5.6 percent. Good financial performance of Honda, Hitachi and Hyundai Mobis for the past quarter brought growth in the share of automotive and consumer companies. Shares of the second largest car manufacturer in Japan – Honda, as well as those of Hitachi, rose at least 4 percent of the exchange in Tokyo. Those of the largest Korean producer of auto parts jumped by nearly 9 percent. MSCI Asia Pacific increased by 1.2 percent to 120.5 points and is on track to finish the session at the highest level since May 13 . Today most major indexes rose in Taiwan and Hong Kong. Taiwan Taiex rose nearly 2% to 7 911.68 points while the Hang Seng advanced 1.8 percent to 412.79 by 21 points, led by companies in the real estate sector. In Japan the Nikkei 225 added 0.4 percent to 9 570.31 points. The broader stock indicators Chinese Shanghai Composite rose 1.3% to 2 672.52 points, although data for the country the last two days showed a decline in the manufacturing sector. Data were disappointing, however, offset by the news of the great coal deposits found in northern China, which greatly increase the shares of companies in the energy sector.
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The stock market indexes in Asia and Pacific region rose strongly during today’s session, led by the best financial results for the quarter of the Japanese technology company Canon and U.S. chemical concern DuPont. The Asian markets rise over the past four sessions helped the regional MSCI Asia Pacific index rising to its highest level since mid-May. It rose by 1.1 percent to 119.36 points today, led by industrial companies in the region. MSCI Asia Pacific is still a 7.6% below its highest point this year because of fears of investors that global growth will slow at the end of this year. Most of today – by 2.7% to 9 753.27 points, increasing the Japanese Nikkei 225 index. Canon’s shares were traded with a growth of 5.7 percent on the Tokyo Stock Exchange after the biggest maker of cameras in the world announced four times increase in profit for the second quarter. The positive financial result, Canon has increased to 67.6 billion yen (770 million dollars) for the three months to June 30. Shares of other Japanese exporters like Sony, Honda and Nissan, also increased due to depreciation of the yen against the euro.
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Most stock indexes in Asia and Pacific region have moved negative territory during the session today after market participants chose to retrieve its profits from the previous two sessions. Regional stock measure MSCI Asia Pacific, which oversees securities markets in ten Asian countries, Australia and New Zealand fell by 0.7 percent to 113.08 points, after rising by 1.9 percent in the first two sessions of this week. Worries about the recovery of the global economy once again prevailed, and increased rate of Japanese yen against all 16 most-traded currencies. Appreciation of the yen reflected on the shares of major Japanese exporters, which reported a decline led by those of Honda and Sony. The main Japanese stock measure of the Nikkei 225 fell 0.6 percent, ending the session at 9 279.65 points. Even more – by 1.1% to 19 857.07 points, the Hang Seng fell to a low turnover of stock traded in Hong Kong. The biggest sales were in the banks after Industrial and Commercial Bank of China announced that it can attract 45 billion yuan (6.6 billion dollars) by selling rights. The South Korean Kospi fell 0.6 percent to 1 675.65 points. Shares of Samsung Electronics fell 0.8 percent in the Exchange in Seoul, although the technology company has announced record operating profits of 5 trillion. won (4.1 billion dollars) for the quarter.
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Most stock indexes in Asia and Pacific region are brought to negative territory in today’s session, many of them are about to be completed the week with decreases. Economic disappointing data from Asia, Europe and the U.S. in recent days, the forthcoming meeting of leaders of the G-20 this weekend and unexpected decision of China to loosen controls on the exchange rate of its currency have made investors nervous and trade – volatile. Regional MSCI Asia Pacific index suffered its biggest decline in three weeks today, falling by 1.5 percent to 115.37 points. It includes nearly 1000 traded companies from 10 countries in Asia, plus Australia and New Zealand. Within the past five sessions stock measure lost 0.8 percent of its value after last week advanced to 3.4 percent thanks to strong performance of stock markets in Japan and Australia. The same two securities market and registered the biggest loss this week, contributed most to the decrease of the MSCI Asia Pacific. Appreciation of the yen lower the price of the shares of Japanese exporters and the Nikkei 225 slid 2 percent to 9 points at 737.48 in Tokyo Stock Exchange, which is the strongest its decline for the past three weeks. Shares of Toyota fell 2.5 percent, while those of Canon dropped by nearly 5 percent, according to Bloomberg.
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June brought the first session decreases in stock indexes in Asia and the Pacific region after last month brought their biggest loss from the bankruptcy of U.S. investment bank Lehman Brothers now. The reason for pessimism today’s stock data gave a significant decrease in the rate of growth in factory sector in China. The index of business activity in the manufacturing sector of the country fell to 53.9 points in May from 55.7 points in April, but this may be an early sign of slowing down the pace of growth in the third largest economy in the world as a whole. Regional stock measure MSCI Asia Pacific, which oversees securities markets in ten Asian countries, Australia and New Zealand gave a 0.8 percent to 112.54 points. In May it fell 9.8 percent, and this is his biggest monthly decline since October 2008. This shows the volatility of global financial markets caused by concerns about high debt countries in Europe and other developed economies like U.S. and UK. With the sharp drop today distinction indexes in India and Hong Kong, where the 30 BSE Sensex fell 1.8 percent to 16 639.51 points and the Hang Seng lost 1.4% to 19 493.98 points. The increase in the indexes in Mumbai the previous four days suspended, after it became clear that new construction in India declined by 1.5 percent in April. In China, the Shanghai Composite fell 0.9% to 2 568.28 points, which was his third straight negative session.
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The reduced investor pessimism main stock indexes in Asia and the Pacific for the seventh straight session today, back regional MSCI Asia Pacific Index to its levels prior to ten months. Selling affected not only shares but also the currencies of developing countries in Asia and commodity prices because of concerns that the debt crisis in Europe may slow recovery of world economy, which in turn will harm the export-oriented economies in Asia. Uncertainty in financial markets in Asia to strengthen further after it became clear that the head of North Korea Kim Jong Il has ordered the army to prepare for the clash with South Korea because of growing tensions between the two countries, writes Bloomberg. Last week South Korea accused its northern neighbor that was sunk by torpedo its warship. Regional stock measure MSCI Asia Pacific, which covers the securities markets in ten Asian countries plus Australia and New Zealand fell sharply by 3 percent to 109 points, is on track to close at its lowest level since July 30 here. Oil fell below $ 70 a barrel, while the euro lost more than 1 percent against the dollar today after last week fell 1.6 percent. Within the last week the Asian indexes recorded its biggest drop since February 2009 and most of them are more than 10% below its highest point this year.
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Singapore’s economy grew by 15.5 percent in the first quarter over the same period of 2009 due to growing activity in the factory, financial and tourism sector in the country. The increase in gross domestic product (GDP) was greater than expected and surpassed the estimates of the Ministry of Commerce and Industry of Singapore, cited by AP. Exports contribute most to impressive GDP growth of 38.6 percent in the first quarter of this year, according to an annual equivalent basis data. This appears to be the strongest pace of GDP growth since statistics began to be kept in 1975. Factory sector, which generates a quarter of Singapore’s economy, reported growth of 32.9 percent on an annual basis, the services sector grew by 10.9 per cent and construction sector – by 13.7 per cent. The government expects the Singapore economy of the country surged by 9 percent this year, a exports to increase by between 15% and 17% yoy. Central Bank of Singapore announced in April that will allow the currency to appreciate, and thus join Malaysia in the withdrawal of its cash incentives for the economy.
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The stock market indexes in Asia and Pacific region continued to rush down and fell for the sixth straight session today. Since the beginning of this month, only two sessions have brought stock growth indexes in the region, May seems to be the worst for them from September 2008 onwards. Sale of shares, mainly from the banking and extractive sector MSCI Asia Pacific fell by another 1.4 percent to 111.83 points today, it pulled down to its lowest level in nine months. He has lost 13 percent to its highest point this year, scored about a month ago, cited by Bloomberg. Its loss from the beginning of this year increased to 7.2 percent after today’s session, only within the last five sessions MSCI Asia Pacific has yielded a 6.9 per cent, which is its biggest weekly decline since February last year ever. Exchange pessimism of investors increase this week after Germany introduced a ban on uncovered short sales of shares of the largest banks and insurance companies, and on speculative purchases of government bonds of 16 countries that make up the eurozone. Japan’s Nikkei 225 index slid 2.5 percent to 9 784.54 points and ranked among the losers in the region indicators. Bank of Japan announced today that it began granting loans against interest rate of 0,1% of commercial banks in Japan after leaving the base rate in the country unchanged.
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Increased sales of shares on stock markets in Asian and Pacific region fell by 10 percent of the regional index MSCI Asia Pacific last month. This is a sign for a period of adjustment of the securities markets in the region triggered by fears about a debt crisis in Greece and the tightening of monetary policy in China. MSCI Asia Pacific, which oversees securities markets in ten Asian countries plus Australia, New Zealand, losing 0.3 percent to 116.29 points during today’s session. He is already 10% below its highest point this year, which said on April 15 and this is one of the signs of market correction. MSCI Asia Pacific decreased by 2.8 percent on Monday, taking its strongest decline for the past six months, amid worries that in Greece this week to meet debt payments of about 11 trillion. dollars. Eurozone finance ministers yesterday discussed measures to tighten the budget deficits in Europe and assured that the euro is a stable currency. Stock exchange in Japan the Nikkei 225 ended the session almost unchanged at 10 242.64 points after the index of consumer confidence of households increased more than expected to 42.0 points in April, while the index of business activity in the services sector declined by 3 percent on a monthly basis.
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