Asia: Marts slump, led by fall in Tokyo

05-Feb-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 8:27 AM Print This Post

Asian markets slumped yesterday Tuesday February 4, led by a four per cent fall in Tokyo, following a huge sell-off on Wall Street as disappointing United States manufacturing data compounded already deep fears about emerging markets.

Traders were also spooked by a warning from Treasury Secretary Jacob Lew, who said the US borrowing limit will be reached on Friday, renewing fears of a Washington stand-off and possible default.

Tokyo dived 4.18 per cent, or 610.66 points, to 14,008.47. The losses leave the Nikkei 14 per cent down since the start of the year, having surged 57 per cent last year to mark its best year in four decades.

Seoul fell 1.73 per cent, or 33.11 points, at 1,886.85 and Sydney lost 1.75 per cent, or 90.8 points, to 5,097.1.

Shanghai and Taipei were closed for the Lunar New Year holiday.

US stocks took a hammering on Monday after the Institute for Supply Management said its purchasing managers index of manufacturing activity fell to 51.3 in January from 56.5 in December.

HONGKONG: SHARES plunged 2.89 per cent yesterday, in line with a regional sell-off after heavy losses on Wall Street sparked by weaker-than-expected United States manufacturing data.
The benchmark Hang Seng Index lost 637.65 points to end at 21,397.77 on turnover of HK$75.69 billion.
Lenovo dived 16.4 per cent to HK$8.41 as traders worried over its purchase of struggling handset maker Motorola. Tencent lost 6.07 per cent to HK$510.5, HSBC shed 2.22 per cent to HK$79.15 and China Mobile lost 2.77 per cent to HK$72, while China Coal Energy gained 0.52 per cent to HK$3.90.

SINGAPORE: THE Straits Times Index ended 25.15 points, or 0.84 per cent, lower to 2965.8 points yesterday.
The FTSE ST Mid Cap Index declined 1.44 per cent while the FTSE ST Small Cap Index declined 1.17 per cent.
Top active stocks DBS fell 1.45 per cent, Keppel Corp lost 1.07 per cent and SingTel was down 0.86 per cent.
The outperforming sectors were represented by the FTSE ST Utilities Index, which was up 0.36 per cent.
The underperforming sector was the FTSE ST Industrials Index, which declined 2.79 per cent.

KUALA LUMPUR: SHARES on Bursa Malaysia closed broadly lower yesterday, due to low risk appetite as investors took the cue from the weaker performance in regional and United States markets.
The FTSE Bursa Malaysia KLCI (FBM KLCI) finished at 1,778.83, down 25.2 points, or 1.4 per cent, from last Thursday’s close of 1,804.03.
On the scoreboard, the Finance Index gave up 120.17 points for 16,288.51, the Plantation Index fell 122.58 points to 8,306.36 and the Industrial Index declined 41.12 points to 3,031.37.
The FBM Emas Index was 164.14 points lower at 12,292.19, the FBMT100 Index lost 167.07 points to 12,008.79, the FBM 70 dropped 177.06 points to 13,583.98 and the FBM ACE decreased 28.98 points to 5,872.35.
Losers outpaced gainers 494 to 214, while 291 counters were unchanged, 593 untraded and 17 others suspended.
Volume amounted to 1.26 billion shares worth RM2.00 billion compared to Thursday’s half-day trading of 769.16 million shares valued at RM1.3 billion.
Among actives, KNM Group gained 1.5 sen to 63 sen, while PDZ Holdings was flat at 12 sen.
Meanwhile, FBM KLCI futures contract on Bursa Malaysia Derivatives lower, tracking downtrend in the cash market.
February 2014 fell 23.5 points to 1,770, March 2014 lost 23 points to 1,770 and June 2014 erased 21.5 points to 1,768.5.
New contract month September 2014 stood at 1,767.
Turnover declined to 7,421 lots from 12,389 lots registered last Thursday, while open interest narrowed to 38,434 contracts from 48,659 contracts last week.

In other markets:

* Wellington was 0.97 per cent, or 46.88 points, lower at 4,802.62. Software firm Xero dived 4.33 per cent to NZ$37.80, Air New Zealand slipped 1.17 per cent to NZ$1.695 and Fletcher Building was steady at NZ$8.96.

* Manila shed 2.15 per cent, or 129.29 points, to 5,886.01. Top-traded Bank of the Philippine Islands fell 2.09 per cent to 86.55 pesos and Philippine Long Distance Telephone Co plunged 1.95 per cent to 2,618 pesos.

* Jakarta fell 0.78 per cent, or 34 points, to 4,352.26. Bank Negara Indonesia lost 1.17 per cent at 4,220 rupiah, while tobacco company Gudang Garam gained 2.04 per cent at 42,600 rupiah.

* Bangkok fell 1.24 per cent, or 15.97 points, to close at 1,276.84. Coal producer Banpu shed 0.93 per cent to 26.75 baht, and energy giant PTT Plc plunged 1.8 per cent to 273 baht.

* Mumbai ended flat, gaining 2.67 points to 20,211.93.

EUROPE: European shares followed Asian and United States markets lower yesterday on concerns about the global economic outlook and on disappointing earnings reports from the likes of oil major BP and chip designer ARM.
Stocks pared some losses, however, after better-than-expected United Kingdom construction data.
The FTSEurofirst 300 was down 0.4 per cent at 1,268.67 by 1122GMT, retracing part of an early 0.8 per cent slide but still down more than 5.7 per cent over the last eight trading sessions.
London’s FTSE 100 index was down by 0.4 per cent, or 23.74 points, at 6,441.92 points in mid-session trading, close to its lowest level since mid-December. Frankfurt’s DAX 30 shed 0.96 per cent to 9,098.39 points and Paris’ CAC 40 index lost 0.21 per cent to 4,099.57.
Europe’s worst-performing shares were earnings-driven. ARM fell 3.6 per cent after royalty revenue came in below forecasts.

Benchmark Currency Rates

USD EUR JPY GBP CHF CAD AUD HKD

USD

1.3522 0.0099 1.6328 1.1072 0.9016 0.8894 0.1288

EUR

0.7395 0.0073 1.2077 0.8187 0.6667 0.6579 0.0953

JPY

101.4900 137.2500 165.7200 112.3560 91.5240 90.2800 13.0736

GBP

0.6125 0.8281 0.0060 0.6779 0.5521 0.5447 0.0789

CHF

0.9035 1.2214 0.0089 1.4750 0.8144 0.8034 0.1164

CAD

1.1091 1.4995 0.0109 1.8111 1.2280 0.9867 0.1429

AUD

1.1244 1.5199 0.0111 1.8357 1.2445 1.0139 0.1448

HKD

7.7627 10.4936 0.0765 12.6741 8.5921 6.9986 6.9046

Source: Bloomberg

 


Category: FinanceAsia

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