Asian markets ended mixed yesterday Tuesday Sep 7 as traders took profits from a recent rally while a holiday in the US meant Wall Street provided no strong pointers.
The euro came under pressure after a report raised questions about recent stress tests on European banks.
TOKYO: Nikkei slipped 0.81 per cent, or 75.32 points, to 9,226.00 as traders were unmoved by the Bank of Japan’s expected announcement to keep interest rates on hold at 0.1 per cent.
SEOUL slipped 0.26 per cent, or 4.68 points, to 1,787.74 and Shanghai added 2.11 points to close at 2,698.36..
The subdued trading came after four days of strong gains caused by last week’s forecast-busting manufacturing data out of the US and China as well as better than expected US jobs figures. Wall Street was closed on Monday for the Labour Day holiday.
SYDNEY: The ASX200 edged down 2.3 points to 4,573.2 as the country finally got a government after August 21 polls returned a hung parliament.
However, RBS head of sales Justin Gallagher said: “There’s a sense of ‘thank God it’s over”. BHP Billiton dropped 0.29 per cent and Rio Tinto was down 0.87 per cent.
HONG KONG: Shares rose 0.22 per cent yesterday, its fifth straight gain, as dealers welcomed a US$50 billion plan by President Barack Obama aimed at boosting the US economy.
The benchmark Hang Seng Index went up some 46.02 points to close at 21,401.79.
Meanwhile, turnover was HK$58.21 billion.
Dealers were also riding on the momentum of last Friday’s better-than-expected US jobs figures.
SINGAPORE: The Straits Times Index was little changed at 3,036.09 at the close.
Shares on the measure trade at an average 14.8 times estimated earnings, compared with about 17.4 times at the beginning of the year.
These shares were among the most active: Singapore Telecommunications lost 0.3 per cent to S$3.10.
StarHub declined 2.8 per cent to S$2.42 and M1, the smallest of the three operators, slipped 1.8 per cent to S$2.22.
KUALA LAMPUR: SHARE prices on Bursa Malaysia consolidated within tight trading ranges for the third consecutive trading day yesterday.
Its overall declining counters outpaced its advancing counters by 354 to 336.
The Kuala Lumpur Composite Index (KLCI) fell from its intra-day high of 1,436.65 to its intra-day low of 1,432.52 yesterday. It closed at 1,434.27 points, giving a day-on-day loss of 0.41 points, or 0.03 per cent.
In other markets:
TAIPEI was flat, dropping 6.55 points to 7,884.40. Taiwan Semiconductor Manufacturing Co closed 0.5 per cent lower at 60.2 Taiwan dollars while MediaTek lost 1.05 per cent to 472.0 Taiwan dollars.
JAKARTA rose 0.43 percent, or 13.74 points, to 3,230.88.
MANILA gained 0.84 percent, or 31.41 points, to 3,775.42. The market is at its highest since October 2007. Ayala Land surged 10.2 per cent to 18 pesos and Metropolitan Bank added 1.4 per cent to 70 pesos.
WELLINGTON closed 0.99 per cent, or 31 points, up at 3,174.14. Air New Zealand was up 3.9 pe rcent at NZ$1.35 while Fletcher Building inched up 0.1 per cent to NZ$8.15 and Steel & Tube added 1.3 per cent to NZ$2.40.
BANGKOK fell 0.82 per cent, or 7.63 points, to close at 923.89. Banpu shed 4 baht to 626.00 baht and PTT plc plunged 10 baht to 292 baht
VIETNAM: the VN Index slumped by 5.41 points or 1.16 percent to 460.59 points with total matching order trade of over 51.3 million shares for 1.303 trillion dong in value.
the HNX Index dipped 1.15 points or 0.84 percent to 135.65 points with total market trade of 51.1 million shares changing hands for 1.293 trillion dong in value.
EUROPE: European shares fell, stubbing out a two-week rally, with banks hit by concerns over the sector’s health and the impact of capital reform, while miners dropped on renewed jitters over Australia’s tax plan.
The pan-European FTSEurofirst 300 index of top shares closed 0.4 per cent lower at 1,061.79 points, after gaining almost 7 percent over the past two weeks.
The Euro STOXX 50, the euro zone’s blue chip index, was down 1 per cent at 2,727.16 points.
London’s the FTSE 100 closed at 5,407.82 points, down 31.37 or 0.58 per cent.
In Frankfurt, the DAX index ended at 6,117.89 points, down 37.15 or 0.60 per cent while in Paris, the CAC-40 index closed at 3,643.81 points, down 40.92 or 1.11 per cent.
AMERICA: Stocks closed lower Tuesday following new worries about Europe’s debt problems. Treasury prices rose and gold settled at a new high as investors sought out safe assets.
According to preliminary calculations, the Dow Jones industrial average fell 107.24 points, or 1.0 percent, to close at 10,340.69.
The S&P 500 index lost 12.67, or 1.1 percent, to 1,091.84, while the Nasdaq fell 24.86, or 1.1 percent, to 2,208.89
About three stocks fell for every one that rose on the New York Stock Exchange, where volume was very light at 830.3 million shares.
Uncertain investors continue to pour money into Treasurys. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.60 percent from 2.71 percent late Friday. Its yield is often used as a gauge to set interest rates on mortgages and other consumer loans.
Gold also rose as investors took money out of stocks and sought out other assets seen as having more stable value. Gold for December delivery rose $8.20 to settle at $1,259.30 an ounce.
Shares of Swiss bank UBS AG dropped 53 cents, or 2.9 percent, to $17.52. Spanish bank Banco Santander SA fell 48 cents, or 3.8 percent, to $12.20.
Barclays PLC fell $1.15, or 5.7 percent, to $19.13. The British bank also announced Robert E. Diamond Jr., who built the company’s global investment bank, will take over as CEO next year.
Benchmark Currency Rates USD EUR JPY GBP CHF CAD AUD HKD HKD 7.7696 9.8646 0.0927 11.9413 7.6838 7.4078 7.0883 AUD 1.0961 1.3917 0.0131 1.6847 1.084 1.0451 0.1411 CAD 1.0488 1.3316 0.0125 1.612 1.0373 0.9569 0.135 CHF 1.0112 1.2838 0.0121 1.5541 0.9641 0.9225 0.1301 GBP 0.6506 0.8261 0.0078 0.6435 0.6204 0.5936 0.0837 JPY 83.805 106.403 128.803 82.8801 79.9033 76.457 10.7863 EUR 0.7876 0.0094 1.2105 0.7789 0.7509 0.7186 0.1014 USD 1.2696 0.0119 1.5369 0.989 0.9534 0.9123 0.1287 Bloomberg