Asian Stocks stretch rout after China factory data
February 3, 2014 10:06 am
Asian stocks dropped as the regional benchmark gauge extended its sharpest monthly slack since May, following the slowdown in Chinese manufacturing growth, which added concern to a worldwide economic recovery, is unsteady. Hokkaido Electric Power Co. (9509) fell 8.4%, the major loss in the MSCI Asia Pacific Index, as the Japanese index predicts a whole year lump.
Hyundai Merchant Marine Co., the largest shareholder in a firm that controlled trips to North Korea’s Mount Geumgang resort, slumped 4.2% in Seoul after North Korea did not reply to South Korea’s proposed dates for a new series of reunions. The said resort is the place of reunions in 2010 between families which are separated by war.
The MSCI Asia Pacific Index missed 0.5% to 134.14 at 10:01 a.m. (Tokyo time), leading to the lowest close since September 6. More than three shares sank for every rise. The mensuration fell 4.6% in January for three consecutive monthly decrement. A global rout erased around $1.9 trillion from the value of listed equities last month, prodded by weaker economic data from China and a sell-off in emerging market currencies.
Regional Gauges
Japan’s Topix index moved back to 0.7% and the Kospi index in South Korea, which were closed in the last two days last week, dropped 0.6%. Australia’s S&P/ASX 200 Index dived 0.2% while the New Zealand’s NZX 50 Index went down 0.6%. China, Hong Kong, Malaysia, Taiwan, and Vietnam markets are shut today because of the Chinese New Year holidays. Japan’s Nikkei 225 Stock Average, which went down 8.5% last month for the biggest plunge among 24 developed markets monitored by Bloomberg, fell 0.9% today. The MSCI Emerging Markets Index plummeted 6.6% in January, the worst drop since June.
Of the 180 companies in the MSCI Asia Pacific Index that have listed earnings since January and which estimates are provided, 51% of it did not reach analyst postulation for profit, based on the data gathered by Bloomberg.
The MSCI Asia Pacific index listed at the end of last week at 12.7 times projected earnings, as compared to Standard & Poor’s 500 Index’s 15.2 and Stoxx Europe 600 Index’s 13.7.
China Data
China’s Purchasing Managers’ Index scored at 50.5, said the National Bureau of Statistics and China Federation of Logistics and Purchasing. That met the medial estimate of analysts polled by Bloomberg News and in comparison to December’s 51 data point. Numbers above 50 signify expansion. The survey reflected jobs and export orders lessening, enlarging risks of a deeper downturn as Communist Party leaders was set on the $6 trillion shadow-banking industry and interbank borrowing costs increase. A private manufacturing benchmark from by HSBC Holdings Plc. and Markit Economics pointed to the first condensation in the next six months.
Futures on the S&P 500 went up 0.3%. The gauge last week finished a third consecutive loss, the longest fall off since 2012, following the Fed cut down stimulus even if a rout in emerging markets urged concern on the global economy.
The material has been provided by InstaForex Company – www.instaforex.com
Asian stocks dropped as the regional benchmark gauge extended its sharpest monthly slack since May, following the slowdown in Chinese manufacturing growth, which added concern to a worldwide economic recovery, is unsteady. Hokkaido Electric Power Co. (9509) fell 8.4%, the major loss in the MSCI Asia Pacific Index, as the Japanese index predicts a whole year lump.
Hyundai Merchant Marine Co., the largest shareholder in a firm that controlled trips to North Korea’s Mount Geumgang resort, slumped 4.2% in Seoul after North Korea did not reply to South Korea’s proposed dates for a new series of reunions. The said resort is the place of reunions in 2010 between families which are separated by war.
The MSCI Asia Pacific Index missed 0.5% to 134.14 at 10:01 a.m. (Tokyo time), leading to the lowest close since September 6. More than three shares sank for every rise. The mensuration fell 4.6% in January for three consecutive monthly decrement. A global rout erased around $1.9 trillion from the value of listed equities last month, prodded by weaker economic data from China and a sell-off in emerging market currencies.
Regional Gauges
Japan’s Topix index moved back to 0.7% and the Kospi index in South Korea, which were closed in the last two days last week, dropped 0.6%. Australia’s S&P/ASX 200 Index dived 0.2% while the New Zealand’s NZX 50 Index went down 0.6%. China, Hong Kong, Malaysia, Taiwan, and Vietnam markets are shut today because of the Chinese New Year holidays. Japan’s Nikkei 225 Stock Average, which went down 8.5% last month for the biggest plunge among 24 developed markets monitored by Bloomberg, fell 0.9% today. The MSCI Emerging Markets Index plummeted 6.6% in January, the worst drop since June.
Of the 180 companies in the MSCI Asia Pacific Index that have listed earnings since January and which estimates are provided, 51% of it did not reach analyst postulation for profit, based on the data gathered by Bloomberg.
The MSCI Asia Pacific index listed at the end of last week at 12.7 times projected earnings, as compared to Standard & Poor’s 500 Index’s 15.2 and Stoxx Europe 600 Index’s 13.7.
China Data
China’s Purchasing Managers’ Index scored at 50.5, said the National Bureau of Statistics and China Federation of Logistics and Purchasing. That met the medial estimate of analysts polled by Bloomberg News and in comparison to December’s 51 data point. Numbers above 50 signify expansion. The survey reflected jobs and export orders lessening, enlarging risks of a deeper downturn as Communist Party leaders was set on the $6 trillion shadow-banking industry and interbank borrowing costs increase. A private manufacturing benchmark from by HSBC Holdings Plc. and Markit Economics pointed to the first condensation in the next six months.
Futures on the S&P 500 went up 0.3%. The gauge last week finished a third consecutive loss, the longest fall off since 2012, following the Fed cut down stimulus even if a rout in emerging markets urged concern on the global economy.
The material has been provided by InstaForex Company – www.instaforex.com
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