Raising the basic interest rate in India surprised investors and bring the strongest one-day drop in stock indexes in Asia and the Pacific region last month. Indian Central Bank is the second in the region after that in China, which has taken steps to tighten monetary policy this year. This will lead to withdrawal of liquidity from the economy and may slow its growth, and reduce investment in property and financial assets. The reason for the concerns of investors and give the warning came from International Monetary Fund that large government deficits will hinder the development of a number of large economies. The regional index MSCI Asia Pacific ex Japan fell by 1.3 percent to 415.83 points and marked its strongest one-day drop of 25 February onwards. He added 1.3 percent to its value last week after Bank of Japan increased its support for the economy. Tokyo Stock, however, is closed today for the celebration of the vernal equinox. Session on Friday brought significant increases in quotes because of depreciation of the Japanese yen and the good performance of the shares of local exporters. With the strong decline during today’s session it was marked in Hong Kong stock exchange, where the Hang Seng slid 2.1 percent to 20 934 points. Since auctions have suffered most from the construction companies and housing sector after the government in Beijing impose some restrictions on land sales.
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The indexes in the Asian and Pacific region came out of positive territory during Friday’s session and increased their lead from the beginning of this week. The regional MSCI Asia Pacific Index rose by 0.6 percent to 125.07 points today and is on track to record a fourth consecutive weekly increase. Compared with its closing level of last Friday the stock measure, which covers the securities markets in ten Asian countries, Australia and New Zealand, rose by 1.5 percent. Compared to March 9, 2009, when the sale of stock markets around the world reached its peak, it has grown by 66 percent. Japanese companies were among the best performers today, which helped the Japanese Nikkei 225 index to rise by 0.8 percent to 10 824.72 points. Cheaper Japanese yen against most major currencies, which supported the shares of major Japanese exporters like Sony, Canon and Honda. The main index in Taiwan Taiex added 0.2 percent to 7 897.91 points, while Korean Kospi rose by 0.7% to 1 686.11 points. Shares in Kia, which is the second largest Korean car company, rose by 4.2 percent on the Exchange in Seoul, having announced it will increase its production capacities in Slovenia. In China, the Shanghai Composite rose by 0.7% to 3 067.7 points, after worries about tightening monetary policy of the Chinese central bank to gradually quiet. Hong Kong’s main stock index Hang Seng, rose by 0.2% to 21 370.82 points, mainly because of growth in the extractive companies.
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The Friday’s session, and last week brought strong increases in stock markets in Asia and the Pacific region, after the concerns of investors from monetary policy tightening in China and the United States, and their concerns about the fiscal crisis in Greece gradually quiet. The regional index MSCI Asia Pacific, which covers the securities markets in ten Asian countries, Australia and New Zealand, have risen for the second consecutive week, rose by 2.2 percent over its closing level of last Friday. Today’s session brought him rise from 0.9 percent to 120.82 points. Best during the past five trading sessions the stock exchange is present in India, where the broad BSE 500 index jumped 4.2 percent on a weekly basis, while the blue chip index BSE Sensex 30 is increased by 3.6%. Only within the last three sessions foreign institutional investors have bought Indian securities for nearly 800 million dollars. Financial companies on the stock exchange in Mumbai, together with those from the energy and extractive industries are the subject of greatest interest from investors this year. Their stock optimism is a reflection of expectations that the Indian economy will grow at a rapid pace, which could overtake the pace of growth in China over the coming years.
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Last November the first session ended with decreases in the indexes for most Asian and Pacific region. Last month brought the regional MSCI Asia Pacific index first decreases for the last eight months, after investors hesitated about the state of the world economy after the fading effects of the measures of governments and central banks. MSCI Asia Pacific, which monitors the securities markets in ten Asian countries plus Australia and New Zealand, slid 1.1 percent today to 115.15 points. October brought him a fall of 1.3 percent on a monthly basis, which is his first monthly decline since February. Compared with five years of his bed early March stock measure was up 63 percent. The Japanese Nikkei 225 slid 2.3 percent to 9802.9 points at the end of today’s session. Today it became clear that the average monthly wage in the country to reduce the 16th consecutive month in September, and decreased by 1.6% yoy. Appreciation of the yen against the dollar and the euro lower shares of exporting companies because their products more expensive on foreign markets. Strongly decreased and the main stock index in Sydney – S & P / ASX 200, which lost 2.2 percent to 4540.4 points. The reason for that became a Wall Street sell-offs on Friday and falling prices of metals and oil prices early this week. In October, Australia’s central bank became the first among all developed economies, which raised the base rate.
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The good news for sudden growth of Chinese economy in the third quarter failed to stop the sale of stock exchanges in Asia and the Pacific region. Instead, they strengthened fears that the Chinese central bank will soon need to raise the base interest rate, and the government to suspend its program to promote consumption. The regional index MSCI Asia Pacific, which monitors the securities markets in nine Asian countries plus Australia and New Zealand are lowered for the second straight day, losing 1.1 percent to 119.22 points. This is the strongest one-day decline in the stock measure from the beginning of this month and reduced his lead to five-year bottom of the beginning of March to 69 percent. Financial companies in the MSCI Asia Pacific contributed 39% of its fall today. Since the beginning of this year it has grown by 33% and outpaced the broad U.S. index, S & P 500 and the pan-European Dow Jones Stoxx 600. The optimism of investors made a market valuation of companies in the MSCI Asia Pacific 1,6 times greater than their book value. The stock market in Shanghai, Shanghai Composite was down by 0.6 percent to 3051.4 points, while Hong Kong’s Hang Seng slid 0.5 percent to 22,210.5 points.
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Most indexes in Asia and the Pacific region rose today, which helped the regional MSCI Asia Pacific index to rise to its highest level in 13 months. Stock market optimism was fueled by unexpectedly good financial results of the technology giant Apple and speech to the Australian central bank that soon ahead of the new interest rate rises due to acceleration of the economy. MSCI Asia Pacific, which monitors stock markets in ten Asian countries, Australia and New Zealand, added 1.1 percent to 121.75 points. Stock measure is headed towards its highest closing level since the beginning of September 2008 and has grown by 72% compared to five years from its bottom in early March this year. Tech companies have contributed about 11 percent of today’s increase MSCI Asia Pacific. Since the beginning of this year the MSCI Asia Pacific increased by 36 per cent. Market valuation of companies involved in it averaged 23.5 times greater than their profit. For comparison, the price / earnings per share (P / E) for U.S. companies in the broader index S & P 500 amounted to 18.1 and for pan-European Dow Jones Stoxx 600 ratio is 16. In Japan, the Nikkei 225 added 1 percent to 10,336.8 points, thereby deleting all your yesterday’s downgrade. Investor optimism took a better-than-expected financial results on tech company Apple and the second largest manufacturer of microprocessors in the U.S. Texas Instruments. In South Korea Kospi advanced 0.6 percent to 1659.2 points, a stock exchange of Hong Kong Hang Seng main index rose by 0.8 percent to 22,384.9 points.
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The week began with decreases for most stock markets in Asia and the Pacific region, after the economist Nouri Rubini said that share prices in the United States have risen too fast. Renewed concerns about the sustainability of economic recovery decreased prices of technological companies and extractive industries. The regional index MSCI Asia Pacific, which monitors the securities markets in ten Asian countries, Australia and New Zealand, yielded a 0.8 percent to 113.6 points. This is the third consecutive day of stock reduction measure after its loss last week amounted to almost 3%. Compared with five years of his bed early March MSCI Asia Pacific increased by 61 percent. Market valuation of companies involved in it on average 22 times greater than their profit transmit Bloomberg. In comparison, the ratio P / E index of the U.S. S & P 500 is 17. The index of blue chip Nikkei 225 in Japan decreased by 0.6 percent to 9674.5 points, a wider Topix slid 0.8 percent to 867.3 points. Concerns that high unemployment in the U.S. will reduce sales of local manufacturers, pressure on share prices of exporting companies.
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