Asian markets decline for 5 consecutive days
Feb 17th, 2010 | By admin | Category: News International MarketsStock Market U.S.
The bill proposed by U.S. President restricting the activities of banks in dealing with risky instruments in the financial markets has caused a massive fixation of speculative positions in the stock markets. JPMorgan Chase Co. and Bank of America Corp. up to the closing of the day lost more than 6% of market price, becoming leaders in the lower part of the financial sector. Exxon Mobil Corp. decreased by 2% while the shares of a gold miner Freeport-McMoRan Copper Gold left in the minus zone of breaking the mark 8% against a background of falling prices for oil and gold.
European stock market
European stock indexes declined on the basis of trading on Thursday because of losses of the banking and steel sectors. Pan-European index of "blue" chip FTSEurofirst 300 dropped to 1,52 percent to 1.036,51 points - its lowest since December 22. The Australian newspaper Sydney Morning Herald reported on Thursday that the local tax reform calls for a tax for the steel companies. As a result, quotes Anglo American, BHP Billiton, Fresnillo, Kazakhmys, Rio Tinto, Vedanta and Xstrata lost from 3,1 to 6,2 percent.
| FTSE-100 | -1,58% |
| DAX | -1.79% |
| CAC40 | -1.70% |
Asian stock market
Asian markets declining for 5 consecutive days against the backdrop of falling prices in commodities markets, as well as fears of rising interest rates in China. MSCI Asia Pacific Index lost 1.4% in trading in Tokyo because of lower equity markets in Taiwan and South Korea more than 2%. Shanghai Composite Index fell more than 1% like in the beginning of the year decline, a loss of 4.5%. Shares of steel companies Jiangxi Copper Co. and Aluminum Corp. of China Ltd. lost nearly 2% after lowering the recommendation to "hold" to "sell" by Goldman Sachs.
| NIKKEI 225 | -277.86 | -2.56% |
| HANG SENG INDEX | -136.49 | -0.65% |
| SHANGHAI SE A SHARE INDX | -31.56 | -0.95% |
| SHANGHAI SE B SHARE INDX | -5.47 | -2.08% |
| KOSPI INDEX | -37.66 | -2.19% |
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