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  • mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato


    » 11/07/2008, 00.00

    ASIA

    Asian markets attempt rebound. Tokyo closes at – 3.6%



    Almost all markets rebound after heavy losses. Toyota reduces profit forecast by over two thirds. The Chinese economy feels the crunch.

    Hong Kong (AsiaNews/Agencies) – Contradictory signs emerged today from Asian markets, most of which recovered some percentage points after early lows.  Tokyo alone remained in the negative zone, down 3.6% on closing, shaken by Toyotas profit forecast and the sluggish US economy.

    Hong Kong's benchmark Hang Seng index was up 1.4 % by mid-afternoon. Taiwan stocks reversed the morning's sharp losses to climb 0.19 % after being almost 1 per cent down.

    South Korea's main stock index rebounded from a 4.9 % fall to close 3.9 % higher after the country's central bank cut interest rates by a quarter of a point - the third cut in less than a month- in a bid to boost an economy hammered by the global financial crisis.

    Investor sentiment took a hit after Japan's top automaker Toyota slashed its annual forecast to a third of what it was a year ago. Japan's leading automaker blamed a contracting US auto market, strong yen and higher materials prices.

    Singapore shares slumped 4.48% while Indonesia index was 2.6 % down at the opening.

    Shanghai had little movement, up by only 0.09%. Analysts said investors were unsettled by China's deteriorating economy after more index heavyweights posted weak sales or cut production, but the sell-off pressure was limited as new policy announcements were expected soon.

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    See also

    06/11/2008 ASIA
    Asian markets down: the recession eclipses the “Obama phenomenon”
    All stock markets are negative, following Wall Streets closure yesterday at -5%. Oil prices drop. Large companies that trade with America and airlines worst hit by recession.

    10/11/2008 ASIA
    Asian markets rally in wake of Beijing rescue plan
    China commits to a 4 billion Yuan project and across the continent markets rally. Only Taipei and Singapore fail to recover.

    20/11/2008 ASIA
    Asian markets fall tracking US pessimism
    After bleak forecasts of US growth, world markets slide: Tokyo closes at -6.89%, a five year low. Japanese exports tumble to their lowest in 7 years.

    22/01/2008 ASIA
    Asian stock markets continue free fall
    All markets have plunged some up to -8%. Mumbai stock exchange closes for an hour due to heavy losses. Chinese banks in difficulty. According to Soros it is the worst financial crises since the Second World War.

    14/11/2008 ASIA
    Asian markets recover as G20 gets under way
    Gains in almost all markets except Mumbay. Expectations ahead of today’s gathering in Washington.



    Editor's choices

    CHINA - VATICAN
    Vatican silence over Shanghai’s Mgr Ma Daqin causing confusion and controversy

    Bernardo Cervellera

    For some, Mgr Ma’s blog post praising the Patriotic Association and acknowledging his mistakes is nothing but “dirt”. For others, he chose humiliation for the “sake of his diocese”. Many wonder why the Holy See has remained silent about the article’s content and the bishop’s persecution. Some suspect the Vatican views the episode in positive terms. Yet, the Ma Daqin affair raises a major question. Has Benedict XVI’s Letter to Chinese Catholics (which describes the Patriotic Association as “incompatible with Catholic doctrine”) been abolished? If it has, who did it? A journey of compromises without truth is full of risks.


    CHINA – VATICAN
    Mgr Ma Daqin: the text of his “confession”

    Mons. Taddeo Ma Daqin

    Four years after quitting the Chinese Patriotic Catholic Association, the bishop of Shanghai “admits” his faults on his blog, praising the organisation that controls the Church. We publish his article, almost in its entirety. Translation by AsiaNews.


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