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  • » 06/30/2010, 00.00

    ASIA

    Asian stock markets fall, doubts about recovery in China



    Nikkei at minus 2.13; Hong Kong and Shanghai negative. Consumer confidence in the U.S. falls, forecasts for growth in China reduced from 1.7 to 0.3 (April). Yen strengthens, penalizing exports from Japan.

    Hong Kong (AsiaNews / Agencies) - Asian stock markets are down after heavy falls yesterday on Wall Street and in Europe. According to analysts, there are doubts about recovery in the U.S. but also in China, problems surrounding the euro and a soaring yen that penalizes exports from Japan.

    By mid-morning Hong Kong was down to minus 1.14, the Shanghai market had opened at minus 0.7, at midday the Tokyo Stock Exchange was minus 2.13, minus 1.42 in Seoul.

    Optimism has been curbed by fears that the U.S. recovery is much slower than previously thought. A research institute, the Conference Board found that consumer confidence in the U.S. fell from 62.7 in May to 52.9 in June, while it had been expected that the index would remain virtually unchanged.

    The economic index even fell for China. In April, it showed a growth of 0.3%, while it had been estimated at 1.7%. China's growth is constrained by a reduction in Government incentives and the European debt crisis.

    In Tokyo, exports have been affected by a high value of the yen, which yesterday gained strength on 16 currencies, while the euro continues to fall to its lowest in eight years. One euro is trading at 107.98 yen, the U.S. dollar at 88.53 yen.

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    See also

    12/06/2012 ASIA - EU
    Asian markets drop after euphoria over Spain cools and fears for Italy and Greece emerge
    Stock markets drop to almost 1%. Lack of commitment on growth. For China aid to Spain contain short-term crisis, but no safeguard to stability. On 17 June, Greece votes for or against the euro.

    28/04/2010 ASIA - EU
    Asian markets fall in wake of crisis in Greece
    All markets down in Asia down 2-3%. The Greek government bonds described as "junk." Fears of a new crisis in the eurozone and worldwide.

    12/05/2011 ASIA
    Asian markets dragged down by Wall Street sell-off
    Negative indices caused by the fall of prices in oil, silver and gold. The dollar gains on the euro because of crisis in Greece.

    10/11/2011 ASIA – ITALIA
    Asian shares and currencies plunge because of Italian crisis
    Hong Kong loses 4.5 per cent; Tokyo, 2.86; Seoul, 3.79; Shanghai, 1.05. Currencies are also down. Filipino exports decline. China’s exports only grew by 15.9 per cent in October, the lowest rise in two years. Chinese imports climb by 28.7 per cent.

    22/07/2010 ASIA
    Bernanke’s "uncertainties" slow Asian stock markets down
    Negative indexes in Tokyo, Hong Kong, Seoul, Taipei, Singapore, Jakarta. For the Fed chairman U.S. prospects are "unusually uncertain". China should revalue the Yuan by 10-30%.



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