Arab Today, arab today china data offsets effect of wall street losses on asia
Last Updated : GMT 07:11:16
Arab Today, arab today
Arab Today, arab today

China data offsets effect of Wall Street losses on Asia

Arab Today, arab today

Arab Today, arab today China data offsets effect of Wall Street losses on Asia

Beijing- Arabstoday

Asian markets were mixed yesterday as the effect of big Wall Street losses sparked by weak reports and forecasts from top US companies was offset by an improvement in Chinese manufacturing. However, selling was also given impetus by concerns over Spain as well as profit-taking after an impressive run by global markets in recent weeks following easing measures in the US, Japan and Europe. Tokyo closed 0.67% lower, shedding 59.95 points to 8,954.3, Seoul fell 0.67%, or 12.85 points, to 1,913.96 and Sydney ended down 0.82%, or 37.3 points, at 4,505.8. Hong Kong ended 0.31% higher, adding 66.23 points to 21,763.78 while Shanghai edged up 0.07%, or 1.54 points, to 2,115.99. Investors took fright at big falls in New York after poor earnings figures and guidance from DuPont, United Technologies, UPS, Xerox, Radio Shack and 3M suggested that the US corporate earnings boom is stalling. Chemicals giant DuPont was the stand-out loser, lowering its 2012 outlook after posting a 98% fall in earnings in the three months to September. It also said it would cut around 1,500 jobs over the next 18 months. Data out of Beijing yesterday indicated China’s manufacturing sector was showing signs of recovery. The HSBC Purchasing Managers Index (PMI) hit 49.1 this month, the highest level in three months and up from 47.9 in September. A reading above 50 indicates growth. While the figures mark the 12th straight month of contraction, they also represent the second consecutive monthly improvement and add to recent indications the economy is on the mend after a slowdown. However, Qu Hongbin, HSBC’s chief economist for China, warned that problems in overseas economies including Europe and the US, as well as China’s job market, continue to pressure the economy. “This calls for a continuation of policy easing in the coming months to secure a firmer growth recovery,” he said in a statement. On currency markets the euro extended losses seen in New York late Tuesday. The single currency bought $1.2927 and ¥103.08 in late trade, compared with $1.2978 and ¥103.64 in New York. The dollar was at ¥79.74 against ¥79.84. Oil was higher, with New York’s main contract, light sweet crude for delivery in December, up seven cents to $86.74 a barrel and Brent North Sea crude for December gaining 30¢ to $108.55. Gold was at $1,708.50 at 1015 GMT compared with $1,710.66 late Tuesday. In other markets, Taipei fell 0.31%, or 22.6 points, to 7,314.88; Manila closed 0.62% lower, shedding 33.63 points to 5,398.69; Wellington closed flat, edging down 2.81 points to 4,001.45; Singapore closed down 0.20%, or 6.20 points, at 3,044.73; Kuala Lumpur rose 0.19%, or 3.09 points, to 1,664.90; Bangkok fell 1.18%, or 15.42 points, to 1,295.00 and Jakarta closed up 0.12%, or 5.23 points, at 4,335.38.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china data offsets effect of wall street losses on asia Arab Today, arab today china data offsets effect of wall street losses on asia

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday