Asian shares dropped as the regional benchmark index slated for a three-week peak. Japanese equities dipped on a stronger yen but mining companies tumbled despite fear on China’s economic outlook.
Honda Motor Co., a carmaker that acquires around 83% of sales overseas, dived 1.7% in Tokyo, moving losses among Japanese exporters. BHP Billiton Ltd., the world’s largest mining company, sank 1% in Sydney. Celltrion Inc. slid 6.4% in Seoul following its operating profit slipped. ChinaVision Media Group Ltd. nearly quadrupled in Hong Kong as Alibaba Group Holding Ltd., China’s largest ecommerce firm, agreed to acquire a majority stake in the movie producer.
The MSCI Asia Pacific Index plunged 1.4% to 136.10 as of 11:09 a.m. in Tokyo, positioned for the lowest end since February 20. Mining companies listed the largest decrease among the 10 industry groups on the regional benchmark index.
China Credit
Aggregate financing in China dwindled 938.7 billion yuan (or $153 billion) last month despite a repression on shadow lending, a government report this week showed. Chinese exports glided down the most since 2009 last month, a separate report over the weekend disclosed. Japan’s Topix index declined 1.9 percent after the yen yesterday gained the most in a more than a week versus the dollar. Australia’s S&P/ASX 200 Index went down 1.1%. South Korea’s Kospi Index fell 1.2%. New Zealand’s NZX 50 Index missed 0.2%. Taiwan’s Taiex index plunged 0.5% and Singapore’s Straits Times Index descended 0.7%.
Hong Kong’s Hang Seng Index decreased 1.5%, while the Hang Seng China Enterprises Index of mainland companies listed in the city sagged 1.8%. China’s Shanghai Composite Index erased 0.2%. Baoding Tianwei Baobian Electric Co.’s bonds and stock were suspended from trading yesterday following it reported losses for the second year. Investor investigation of China’s onshore bond market is spurring after Shanghai Chaori Solar Energy Science & Technology Co. last week was the first firm to default. Chaori Solar’s failure to pay aggitated speculation more companies might fail to beat debt deadlines also.
The material has been provided by InstaForex Company – www.instaforex.com
Asian shares dropped as the regional benchmark index slated for a three-week peak. Japanese equities dipped on a stronger yen but mining companies tumbled despite fear on China’s economic outlook.
Honda Motor Co., a carmaker that acquires around 83% of sales overseas, dived 1.7% in Tokyo, moving losses among Japanese exporters. BHP Billiton Ltd., the world’s largest mining company, sank 1% in Sydney. Celltrion Inc. slid 6.4% in Seoul following its operating profit slipped. ChinaVision Media Group Ltd. nearly quadrupled in Hong Kong as Alibaba Group Holding Ltd., China’s largest ecommerce firm, agreed to acquire a majority stake in the movie producer.
The MSCI Asia Pacific Index plunged 1.4% to 136.10 as of 11:09 a.m. in Tokyo, positioned for the lowest end since February 20. Mining companies listed the largest decrease among the 10 industry groups on the regional benchmark index.
China Credit
Aggregate financing in China dwindled 938.7 billion yuan (or $153 billion) last month despite a repression on shadow lending, a government report this week showed. Chinese exports glided down the most since 2009 last month, a separate report over the weekend disclosed. Japan’s Topix index declined 1.9 percent after the yen yesterday gained the most in a more than a week versus the dollar. Australia’s S&P/ASX 200 Index went down 1.1%. South Korea’s Kospi Index fell 1.2%. New Zealand’s NZX 50 Index missed 0.2%. Taiwan’s Taiex index plunged 0.5% and Singapore’s Straits Times Index descended 0.7%.
Hong Kong’s Hang Seng Index decreased 1.5%, while the Hang Seng China Enterprises Index of mainland companies listed in the city sagged 1.8%. China’s Shanghai Composite Index erased 0.2%. Baoding Tianwei Baobian Electric Co.’s bonds and stock were suspended from trading yesterday following it reported losses for the second year. Investor investigation of China’s onshore bond market is spurring after Shanghai Chaori Solar Energy Science & Technology Co. last week was the first firm to default. Chaori Solar’s failure to pay aggitated speculation more companies might fail to beat debt deadlines also.
The material has been provided by InstaForex Company – www.instaforex.com
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