Asia
Japan
• NKY-2.11%, TPX -1.54%
• NKY fell with exporters hit as the yen climbed to a 15-mth high vs. the dollar on disappointing US economic data. Turnover on the TPX rose to 1.36 trillion yen from 1.13 trillion yen yesterday
• Stocks fell across most sectors led by tech, industrials, consumer, materials, oil & gas and health care. Utilities rose 0.03%
• Exporters fell on a strong yen: autos -2.12%, CE -2.35%, precision -2.60%.
• Best performing sectors on the TPX: pulp & paper +0.23%, electric power &
gas +0.05%, banks -0.17%; worst performing sectors: electric appliances -2.66%,
precision -2.60%, machinery -2.60%
Hong Kong
• HSI +0.43%; HSCEI +0.14%
China
• SHCOMP +0.44%; SZCOMP +0.74%
• Stocks rebounded as agriculture products climbed on prospect recent floods will boost food prices while alcoholic beverage makers rallied in anticipation of strong earnings. Turnover on the SHCOMP rose to 125.84B yuan from 108.77B yuan yesterday
• Stocks roses across most sectors led by consumer, tech and industrials.
• Farming & fishing +3.32%. Xinhua reported the Chinese Vice Premier Hui Liangyu called on local authorities to bolster late rice planting after floods in the nation damaged more than 7M hectares of farmland
• Banks -0.18%, real estate -0.16% extended fall as investors once again turned their attention to inflation driven by higher food prices. In addition, the Securities Journal reported China is continuing to crackdown on developers that leave sites idle speculative land banking. The Ministry of Land and Resources has identified 1,457 unused plots and passed the list to the CBRC to conduct risk assessments on the companies involved, showing the government has not relaxed its policy stance on properties market
• Autos +1.30%. The Ministry of Industry and Information Technology has completed drafting a development plan for the alternative energy vehicle industry for 2011 – 2020 and will submit it this mth to the State Council for approval
• Iron & steel -0.44% extended fall after China Iron & Steel Association reported slowing steel demand had led 40% of mills to cut output or put plants on maintenance yesterday