The Asian stocks plunged, following the regional gauge index advanced on the sixth day yesterday to cap its longest winning streak this year. Asahi Group Holdings Ltd. slipped 3.2% in Tokyo after Japan’s second largest beer maker’s profit forecast failed to meet estimates. Tokyo Tatemono Co. slid 13% after the developer postulated a full year operating profit below analyst anticipations. Qantas Airways Ltd. bounced 6.7% following the Sydney Morning Herald reported Australian Treasurer Joe Hockey said the nation’s largest carrier met pre-conditions for government assistance.
The Asia-Pacific equity benchmark jumped back after missing 4.6% in January, its worst beginning since 2009, despite worries about the Federal Reserve’s stimulus cuts, a downturn in China and volatility in emerging markets. Japan’s Topix index fell 0.8%. South Korea’s Kospi index swept between earnings and losses. Taiwan’s Taiex index and Hong Kong’s Hang Seng Index both missed 0.4%. China’s Shanghai Composite Index dropped 0.3%.
Australia’s S&P/ASX 200 Index decreased 0.1%, wiping off its gains by 0.4%. A government report reflected the nation’s unemployment rate increased to 6%, the most in more than a decade. New Zealand’s NZX 50 Index went down 0.2%. Singapore’s Straits Times Index incurred 0.2%.
The material has been provided by InstaForex Company – www.instaforex.com
The Asian stocks plunged, following the regional gauge index advanced on the sixth day yesterday to cap its longest winning streak this year. Asahi Group Holdings Ltd. slipped 3.2% in Tokyo after Japan’s second largest beer maker’s profit forecast failed to meet estimates. Tokyo Tatemono Co. slid 13% after the developer postulated a full year operating profit below analyst anticipations. Qantas Airways Ltd. bounced 6.7% following the Sydney Morning Herald reported Australian Treasurer Joe Hockey said the nation’s largest carrier met pre-conditions for government assistance.
The Asia-Pacific equity benchmark jumped back after missing 4.6% in January, its worst beginning since 2009, despite worries about the Federal Reserve’s stimulus cuts, a downturn in China and volatility in emerging markets. Japan’s Topix index fell 0.8%. South Korea’s Kospi index swept between earnings and losses. Taiwan’s Taiex index and Hong Kong’s Hang Seng Index both missed 0.4%. China’s Shanghai Composite Index dropped 0.3%.
Australia’s S&P/ASX 200 Index decreased 0.1%, wiping off its gains by 0.4%. A government report reflected the nation’s unemployment rate increased to 6%, the most in more than a decade. New Zealand’s NZX 50 Index went down 0.2%. Singapore’s Straits Times Index incurred 0.2%.
The material has been provided by InstaForex Company – www.instaforex.com
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