Asian indexes fall on Tuesday 2 nd consecutive session after shares of banks and industrial enterprises
By admin at 30 January, 2010, 7:11 pm
Share indexes of Asia fell on Tuesday a second consecutive session after the courses of Australian shares in banks and industrial enterprises in Japan, despite rising raw material costs and currencies in the region, except the yen, reported Bloomberg.
Composite stock index MSCI Asia Pacific Asia Pacific lost 0.3% with the opening of trading, falling to 125.96 points.
ratio of stock price in the MSCI World Index to profits jumped to its highest level since 2002, it is investors" fears that the growth rate of prices of securities may be ahead of the increase in profits.
Japanese index Nikkei 225 fell 0.9%, Hong Kong"s Hang Seng fell by 0,2%, Taiwan Taiex show on Tuesday the steepest drop in Asia - 1.1%.
"Markets take a breather. expectancy corporate reporting is now considered as a factor in economic recovery. For the further growth of the market we need to see increased profits", - said Prasad Patkar of Platypus Asset Management in Sydney.
value of securities the world"s leading automaker Toyota Motor Corp. fell by 1,1%, Honda Motor Co. - By 2,4%. Japan"s largest exporter of TV sets Sony Corp. reduced the capitalization of 1,3%. Japanese exporters fear decline in revenues and profits outside the country in connection with the appreciation of the yen against the dollar and euro. For example, the growth rate of the Japanese currency against the U.S. dollar at 1 yen in the current fiscal year, means a decrease in operating profit at Honda 12 billion yen ($ 132 million), Toyota - by 30 billion yen.
Stock Quotes
largest Australian bank Commonwealth Bank of Australia fell by 2,3%. Price of securities of the largest bank in Japan-largest market capitalization of Mitsubishi UFJ Financial Group Inc. decreased by 2,3%, after Barclays Plc announced that the proceeds of credit and financial institutions from lending operations may be reduced.
market value of Taiwanese chip maker Powerchip Semiconductor Corp. fell by 5,2%, Japan"s Elpida Memory Inc. - 5%.
cost air carrier Japan Airlines stock plummeted by 40% - to a historical low of 3 yen. As expected, the company filed for bankruptcy on Tuesday.
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