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vendredi 7 mai 2010

The Asian market plunges again in the red.



Keywords: Banks, Automotive, Debts, ASIA, Yukio Hatoyama, Naoto Kan, MITSUBISHI UFJ FINANCIAL ADR, TOYOTA MOTOR SP.ADR

In the wake of Wall Street on Thursday, Asian markets, worried about a possible spillover of the crisis in Greek, record a new session sharply lower. The Nikkei lost more than 3%.

New red while sitting on Asian markets on Friday. Asian stock markets are undermined by concerns about budget deficits of Greece and its potential impact on the global economic recovery. Thursday Wall Street Stock Exchange closed down 3.2% after falling by 9% during the session.
Japanese Prime Minister Yukio Hatoyama has even said "very concerned about the problems of Greece" and Finance Minister Naoto Kan said the Group of Seven most industrialized countries (Canada, Germany, USA, France, UK, Italy and Japan) will hold a teleconference Thursday afternoon to discuss the crisis in Greece.
At the close, the Nikkei lost 3.10% to 10,364.59 points. Around 8:00, Seoul fell by 1.92% to 3474.54 points, 1.10% to Bombay abandoned 16,800.29 points. Other Asian stock markets posted declines of less than 1%. These include the Stock Exchange of Hong Kong, which gives 0.53% to 20,026.54 points, the Shanghai Stock Exchange, which grants 0.66% to 2,877.86 points, losing 0.16% Taiwan in 7567 68 points, the Sydney Stock Exchange was down 0.63% to 4,544.50 points and Singapore loose 0.83% to 2816.19 points.

Banking and auto unscrew:
Oil prices retreated Friday in electronic trading in Asia in a market increasingly alarmed by the budget problems of the eurozone, dealers said.
In morning trading, a barrel of light sweet crude for June delivery lost 17 cents to 76.94 dollars, while Brent North Sea due to identical, yielding 27 cents to 79.56 dollars.
As for companies, Mitsubishi Corporation, the first Japanese trading house, announced Friday a 26.2% decline in net income in 2009-2010 to 273.1 billion yen (2 billion euros), because of lower commodity prices. Its turnover has also declined by almost one quarter, to 17,098.7 billion yen and operating profit has fallen by more than three to 181.4 billion yen. Around 6.45 am, the Mitsubishi Corporation shares showed a decline of 2.03% to 2080 yen.
The bank values are among the most affected: Mitsubishi UFJ Financial Group was down 2.3%, HSBC Holdings PLC 4.2% loose. As for exporting companies, they continue to suffer the decline of the euro. Including values Automotive: Toyota lost 1.83%, Honda declined by 2.25% and 3.20% Mitsubishi abandons.

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