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Showing posts with label Asian Markets Latest News Auguts 6. Show all posts
Showing posts with label Asian Markets Latest News Auguts 6. Show all posts

Aug 7, 2013

Asia stocks track U.S. lower; yen slaps Japan: Asian Markets Latest News Auguts 6, 2013.


Asia stocks track U.S. lower; yen slaps Japan Asian stock markets trade broadly lower after overnight losses in the U.S. on monetary-policy concerns, with Japan taking an especially heavy hit from gains for the yen. 23:55

Hong Kong stocks track U.S. lower, but Shanghai up LOS ANGELES (MarketWatch) -- Hong Kong stocks opened lower Wednesday after overnight losses on Wall Street, with energy shares a weak spot after crude-oil futures lost 1.2% during regular trade in New York. The Hang Seng Index gave up 0.4% to sit at 21,844.04 in early moves, while the mainland-China-tracking Hang Seng China Enterprises Index lost 0.6%, but the Shanghai Composite undid opening losses to rise 0.2%. Among the energy majors, Cnooc Ltd. and PetroChina Co. each lost 1.3%, while China Petroleum & Chemical Corp. -- better known as Sinopec -- slid 1.4% in Hong Kong. Over in Shanghai, declines for PetroChina and Sinopec were milder, at 0.3% and 0.5%, respectively. Hong Kong-listed casino shares were mixed, with Wynn Macau Ltd. up 1.4%, but MGM China Holdings Ltd. dropping 3.1% after posting a quarterly loss. Among the Hong Kong gainers, Standard Chartered PLC advanced 0.9% despite posting lower profit, as the smaller earnings were due to a writedown on its Korean operations. On the Chinese mainland, real-estate majors drove gains after China Vanke Co. reported a 22% rise in its first-half profit. Shares of Vanke rose 1.7% in Shenzhen, while Poly Real Estate Group Co. jumped 4.1% and Gemdale Corp. climbed 3.8% in Shanghai. 9:49 p.m. Today
Australia stocks struggle with broad-based losses LOS ANGELES (MarketWatch) -- Australian equities fell Wednesday in early trade, under pressure following losses on Wall Street on worries about tapering of monetary stimulus for the world's largest economy. The S&P/ASX 200 dropped 0.8% to 5,066 in broad-based declines. Financials fell in the wake of an Australian interest-rate cut on Tuesday to a record low 2.5%. Shares of Commonwealth Bank of Australia and National Australia Bank Ltd. each gave up 0.8%, and Westpac Banking Corp. was off 0.6%. Westpac reduced its borrowing rate by 28 basis points, more than the Reserve Bank of Australia's rate cut of 25 basis points. Moving higher were shares of Twenty-First Century Fox Inc. , up 0.8% after the entertainment company reported a rise in fiscal fourth-quarter earnings from continuing operations. It was the first earnings report since the spinoff from News Corp. , parent company of, the publisher of this report. 8:39 p.m. Today

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