Showing posts with the label Asian Markets at Close Report | MarketWatch -October 11

Asian Markets at Close Report | MarketWatch -October 11, 2012-: Asia stocks drop on Spain, U.S. earnings concerns

By Sarah Turner and V. Phani Kumar , MarketWatch HONG KONG (MarketWatch) — Asian markets suffered broad losses Thursday as a downgrade of Spain’s credit ratings and disappointing earnings outlook from some U.S. corporations dragged on investor risk appetite.  Chinese banks rallied, pushing the Hong Kong equity markets higher, after a large state-owned shareholder bought shares in the country’s top four lenders and said it would further increase its stake. “Markets were getting a boost from the European Central Bank and the Federal Reserve [support moves], but that’s started to wear off with delays in Spain and profit-reporting season in the U.S. creating a bit of nervousness,” said Shane Oliver, head of investment at AMP Capital.  Japan’s Nikkei Stock Average JP:100000018 -0.58%