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Market Report - China Bank Fears

2010-01-20 16:31

 

In today’s market report… Asian shares edged lower on reports China was again telling major banks to stop lending.

Shares in China and Hong Kong declined on official media reports that the central bank was telling some major banks to stop lending for the rest of the month.

Japan's Nikkei was flat, while the world's top automaker, Toyota, ran in place.

Toyota secured a new lithium supply deal to help expand hybrid car production, aiming to double global output of gas-electric cars to 1 million units next year.

Australian shares found support from a bullish outlook from miner BHP Billiton.

And finally, the euro fell to a four-month lows on concerns of a further slump, after facing a lashing on worries on European fiscal health and investor sentiment.