Asian stocks fall, dragged by US stocks ahead of Chinese data
October 23, 2014 6:39 am
Asian stocks fell following the lead of US stocks, cutting down the previous day’s rally, as investors await the release of Chinese manufacturing data.
The MSCI Asia Pacific Index shed 0.3% to 137.45, 9:01 am, Tokyo time. The index advanced by 1.4% in the previous trading session after the S&P 500 reached its highest advance for the year. The Standard & Poor’s 500 plummeted today by 0.73% or 14.17 points to 1,927.11 with energy companies dragging the market as oil prices fell.
Japan’s Nikkei 225 Index and South Korea’s KOSPI Index lost 0.37% or 56.81 points 15,138.96 and 0.27% or 5.32 points to 1,931.65 respectively. Hong Kong’s Hang Seng Index and China’s Shanghai Composite Index slid by 0.41% or 97.10 points to 23,308.03 and 0.91% or 21.52 points 2,305.04 respectively. Australia’s S&P/ASX 200 fell by 0.05% or 2.77 points to 5,383.10.
In Japan, Honda Motor Co. was the biggest laggard in the Topix with JX Holdings Inc. and Shinko Electric Industries Co. followed suit, losing 2.5% and 12% respectively. DeNA Co. climbed by 3.7%. China’s Sinopec along with PetroChina slid by 0.2% and 0.4% respectively. Australia’s Boart Longyear surged by 40% while Leighton Holdings added 1%. LG Display and Hyundai Motor are up by 2% and 1% respectively.
Chief investment officer at Platypus Asset Management Ltd., Donald Williams, commented to Bloomberg that the volatility will be extended with China taking the neutral in the current situation, the data released will be on the spotlight as it gives high or low indications.
US stocks advanced for a fourth day in a row yesterday with the S&P 500 and the Nasdaq leading the market as corporate earnings optimism stimulate a rebound from last week’s slump. A slew of corporations will be reporting corporate earnings in the following days. Over at in Europe, the ECB is speculated to expand stimulus. With the Federal Reserve easing up its stimulus,investors are turning its focus to the ECB and the Bank of Japan for stimulation of the global economy.
The material has been provided by InstaForex Company – www.instaforex.com
Asian stocks fell following the lead of US stocks, cutting down the previous day’s rally, as investors await the release of Chinese manufacturing data.
The MSCI Asia Pacific Index shed 0.3% to 137.45, 9:01 am, Tokyo time. The index advanced by 1.4% in the previous trading session after the S&P 500 reached its highest advance for the year. The Standard & Poor’s 500 plummeted today by 0.73% or 14.17 points to 1,927.11 with energy companies dragging the market as oil prices fell.
Japan’s Nikkei 225 Index and South Korea’s KOSPI Index lost 0.37% or 56.81 points 15,138.96 and 0.27% or 5.32 points to 1,931.65 respectively. Hong Kong’s Hang Seng Index and China’s Shanghai Composite Index slid by 0.41% or 97.10 points to 23,308.03 and 0.91% or 21.52 points 2,305.04 respectively. Australia’s S&P/ASX 200 fell by 0.05% or 2.77 points to 5,383.10.
In Japan, Honda Motor Co. was the biggest laggard in the Topix with JX Holdings Inc. and Shinko Electric Industries Co. followed suit, losing 2.5% and 12% respectively. DeNA Co. climbed by 3.7%. China’s Sinopec along with PetroChina slid by 0.2% and 0.4% respectively. Australia’s Boart Longyear surged by 40% while Leighton Holdings added 1%. LG Display and Hyundai Motor are up by 2% and 1% respectively.
Chief investment officer at Platypus Asset Management Ltd., Donald Williams, commented to Bloomberg that the volatility will be extended with China taking the neutral in the current situation, the data released will be on the spotlight as it gives high or low indications.
US stocks advanced for a fourth day in a row yesterday with the S&P 500 and the Nasdaq leading the market as corporate earnings optimism stimulate a rebound from last week’s slump. A slew of corporations will be reporting corporate earnings in the following days. Over at in Europe, the ECB is speculated to expand stimulus. With the Federal Reserve easing up its stimulus,investors are turning its focus to the ECB and the Bank of Japan for stimulation of the global economy.
The material has been provided by InstaForex Company – www.instaforex.com
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