ShoppingMarket Report - Asia Shares Slump Pre-G20
2010-06-25 10:49
In today’s market report… Asian shares eased broadly on Friday, as U.S. market and economic worries weighed on regional sentiment, ahead of a weekend meeting of G20 leaders.
Differences among the G20 on financial regulation and economic uncertainty ahead of the Toronto summit limited buying, as leading indicators showed a slowdown ahead.
Fresh signs of weakness in U.S. consumer spending hit Japanese exporters such as Canon.
The Nikkei followed Wall Street lower, with Japanese retailers and some financial institutions also under pressure.
Mizuho Financial was lower, as Japan's No.2 bank prepared to sell up to 6 billion new shares to raise over $10 billion in fresh capital.
In Australia, mining giant BHP Billiton eased after rising Thursday on hopes the new government would alter its 40 percent mining tax.
Beijing set the yuan's daily mid-point at the highest since the July 2005 revaluation, but market reaction was limited on expectations of only limited appreciation of the Chinese currency ahead.
Differences among the G20 on financial regulation and economic uncertainty ahead of the Toronto summit limited buying, as leading indicators showed a slowdown ahead.
Fresh signs of weakness in U.S. consumer spending hit Japanese exporters such as Canon.
The Nikkei followed Wall Street lower, with Japanese retailers and some financial institutions also under pressure.
Mizuho Financial was lower, as Japan's No.2 bank prepared to sell up to 6 billion new shares to raise over $10 billion in fresh capital.
In Australia, mining giant BHP Billiton eased after rising Thursday on hopes the new government would alter its 40 percent mining tax.
Beijing set the yuan's daily mid-point at the highest since the July 2005 revaluation, but market reaction was limited on expectations of only limited appreciation of the Chinese currency ahead.
