Asian stocks are down for the fourth day.
Here’s how the markets look:
Japan’s Nikkei 225 is down 0.31%
Hong Kong’s Hang Seng index is down 1.03%
Australia’s S&P/ASX 200 is down 1.06%
The Shanghai Composite is down 1.13%
Korea’s Kospi Index is down 0.62%
Updated: 9:45 p.m. ET
By Sarah Turner, MarketWatch
SYDNEY (MarketWatch) — Tokyo shares surged Wednesday after the Bank of Japan announced more policy-easing moves, pulling many other Asian markets along for the ride higher.
Japan’s Nikkei Stock Average (TYO:JP:100000018) rallied 1.5%, while Hong Kong’s Hang Seng Index (HSI:HK:HSI) climbed 0.9% and Australia’s S&P/ASX 200 index(ASX:AU:XJO) traded up 0.5%.
The Shanghai Composite Index (SHA:CN:000001) edged up 0.2%, though South Korea’s Kospi (KRX:KR:SEU) lagged with a 0.3% loss.
Wall Street ended little changed on Tuesday, [...]
LOS ANGELES (MarketWatch) — China’s official manufacturing index out Saturday was bad, and the privately-compiled version from HSBC on Monday was worse, hitting the lowest since March 2009.
And right on cue, the stock markets in Hong Kong and Shanghai moved higher, with the Hang Seng Index (HSI:HK:HSI) swinging from a 0.5% opening loss to a 0.4% gain after the HSBC numbers.
We’ve seen this story before. Markets want [...]
Shares in Hong Kong-listed Sun Hung Kai Properties Ltd. (0016.HK) fell slightly Monday after the city’s anticorruption agency charged its co-chairmen with bribing the city’s former No. 2 government official, as the market had largely priced in the news.
At 0212 GMT, shares in the company were down 1% at 94.55 Hong Kong dollars (US$12.2). The benchmark Hang Seng Index was flat.
Read more: http://www.foxbusiness.com/news/2012/07/15/sun-hung-kai-shares-fall-after-chairmen-charged/#ixzz20kgwcBar
LOS ANGELES (MarketWatch) — Sometimes, good news is bad news.
For months now, the markets have eagerly awaited a major easing move from the People’s Bank of China. At even the slightest hint of a coming rate cut or even just another trimming of banks’ reserve ratios, stocks have rallied, believing that monetary-policy support would keep the world’s second-largest economy safe for a “hard landing.”
Then, at [...]
By Craig Stephen
HONG KONG (MarketWatch) — As the mainland Chinese economy showed more signs of spluttering last week, it’s getting harder to hear the bullish argument that we are witnessing a benign slowdown engineered by authorities.
While various economists have trimmed fractions of a decimal point off their China GDP forecasts, this hardly tallies with the performance of a widening range of assets feeling the draft as the [...]
By V. Phani Kumar
HONG KONG (MarketWatch) — China’s manufacturing activity contracted at a faster pace in May as conditions for exporters worsened during the month, the preliminary findings of a survey by HSBC showed Thursday. The “flash” reading of the manufacturing Purchasing Managers’ Index dropped to 48.7 in May from a final print of 49.3 in April, HSBC said. A measure below 50 in the survey indicates deterioration, whereas [...]
China Eastern Airlines Corp. (670), the nation’s second-biggest carrier, expects a “big” drop in travel-demand growth this year because of an economic slowdown and the European debt crisis.
Demand for international passenger and cargo flights is “clearly falling,” predominately because European consumers are cutting spending, Liu Shaoyong, the carrier’s chairman, told reporters in Beijing yesterday, where he was attending the National People’s Congress. There will also be a “big difference” [...]
Almost $6.3tn was erased from global stock markets this year as the eurozone financial crisis reverberated across the world in the latter half of 2011, calling into question the future of the world’s largest currency bloc.
Global stock market capitalisation dropped 12.1 per cent to $45.7tn according to Bloomberg data, while the euro ended the year as the worst performing major currency after finally starting to succumb to the continent’s financial and [...]
As we head towards 2012, uncertainty and growing pessimism are the dominant themes in the gold market right now. This might seem odd when one considers that the gold price is up better than 14% since January 1, with no clear signs that the fundamentals that have been driving the gold price higher over the last decade have changed.
Have the world’s central banks started selling gold again? No, they are [...]
By Michael Kitchen
LOS ANGELES (MarketWatch) — HSBC’s initial “flash” reading of its China manufacturing survey fell to a contractionary reading of 48.0 for November, well below forecast and swinging from a mildly expansionary 51.0 reading for October. Forecasts for the HSBC flash manufacturing Purchasing Managers Index had called for a 50.1 result, just about the 50 level that separates expansion from contraction. The flash [...]
Stunning! The S&P500 at its high today was up 20.3 percent from the October 4th intraday low of 1074.77. We’re talking the S&P500, not the Brazilian BOVESPA or Hang Seng Index! This kind of initial move in the S&P500 in just 17 trading days has happened only six times in the past sixty years.
Today moves blew through the yearly breakeven level of 1257.64 and the [...]
Over the past week one of the more hotly debated and market moving topics was the resurgence of speculation that China may be on the verge of a “hard landing.” To a large extent this was driven by renewed concerns that the country’s debt load, especially at the local government level, will be a substantially greater hindrance to growth and hence, concern than previously [...]
The S&P 500 e-mini futures (ES M1) are trading higher this morning by 5.75 points to 1336.25 per contract. Earnings reports continue to be released in droves at this time. Most of the earnings releases have been better than expected and well received by the market. This morning, United parcel Service Inc.(NYSE:UPS) is trading higher by $1.11 to $74.75 a share after releasing their [...]