Source - http://www.bloomberg.com/
By - Glenys Sim & Jonathan Burgos
Category - Hotel Reservations In Santa Clarita
Posted By - Hampton Inn Santa Clarita
By - Glenys Sim & Jonathan Burgos
Category - Hotel Reservations In Santa Clarita
Posted By - Hampton Inn Santa Clarita
 |
| Hotel Reservations In Santa Clarita |
Asian stocks headed for the first monthly decline since October as a drop in Japanese brokerages and shipping lines limited a rebound in the nation’s shares. The Indian rupee and equities fell as a report showed the nation’s economy grew at its slowest pace in a decade.
The MSCI Asia Pacific Index was little changed at 135.64 as of 2:41 p.m. in Tokyo, after climbing as much as 0.8 percent, and is down 4.6 percent in May. Japan’s Topix (TPX) index swang between gains and losses. Standard & Poor’s 500 Index futures and FTSE 100 Index contracts were steady. The yen fell against all 16 major counterparts. The so-called Aussie slid 0.3 percent to 96.38 U.S. cents.
India’s gross domestic product increased 5 percent in the year ended March 31, compared with 6.2 percent in the previous period, a government report showed. Data due today may show U.S. consumer spending stagnated, reducing bets the Federal Reserve will scale back its purchases of bonds. Japan’s industrial production expanded 1.7 percent in April, an initial sign of success for Prime Minister Shinzo Abe’s economic revival campaign.
“Price moves are being exaggerated by thin volume” as investors stay on the sidelines, said Alex Wong, a Hong Kong-based director at Ample Capital Ltd. “You can’t be bullish after the market fell so much, but with foreign markets being so resilient, you can’t be too bearish.”
The Topix slumped yesterday, passing the 10 percent threshold some investors use to define a correction. Even after yesterday’s plunge, the gauge is still up more than 30 percent this year after the Bank of Japan pledged to reach 2 percent inflation within two years with unlimited bond buying and by doubling the monetary base.
Shipping, Brokerages
Shipping companies dropped the most among 33 industry groups on the Topix, with Mitsui O.S.K Lines Ltd. falling 4.9 percent. Nomura Holdings Ltd. declined 2.7 percent to lead a slide among securities firms. Sony Corp. increased 3.3 percent after people familiar with the matter said the electronics maker is consulting banks about a proposal to take part of its entertainment unit public.
“The market is trying to find a place to settle,” said Takashi Aoki, a Tokyo-based fund manager at Mizuho Asset Management Co., which oversees about $33 billion. “We don’t know where the bottom is yet.”
The Indian rupee declined 0.3 percent to 56.51 per dollar, while the S&P BSE Sensex retreated 1.2 percent, the most among Asian indexes.
As many stocks rose as fell on the MSCI Asian gauge. South Korea’s Kospi (KOSPI) index added 0.2 percent and Australia’s S&P/ASX 200 Index climbed 0.2 percent. Shares in Hong Kong, Taiwan and China fluctuated. Singapore’s Straits Times Index slipped 0.7 percent and Thailand’s SET Index lost 0.6 percent.
Yen, Aussie
The yen weakened 0.3 percent to 101.03 per dollar, while Japan’s 10-year government bond yield slid three basis points to 0.86 percent as signs of deflation suggested the Bank of Japan will need to sustain stimulus. Consumer prices excluding fresh food fell 0.4 percent in April from a year earlier, the statistics bureau said in Tokyo today, matching the median estimate of 29 economists in a Bloomberg News survey.
Australia’s dollar fell today after having risen 0.5 percent in the previous two sessions. It’s headed for its biggest monthly decline in more than two years on speculation a slowdown in China will weigh on the economy, encouraging the Reserve Bank to cut interest rates this year.
Gold for immediate delivery gained as much as 0.6 percent to $1,422.10 an ounce, the highest since May 15, before trading at $1,420.08. Prices are up 2.4 percent this week.
Data yesterday showed that the U.S. economy grew at an annualized 2.4 percent pace in the first quarter, down from a preliminary reading of 2.5 percent, boosting speculation the Fed may maintain its purchases of $85 billion of Treasury and mortgage debt a month.
The MSCI Asia Pacific Index was little changed at 135.64 as of 2:41 p.m. in Tokyo, after climbing as much as 0.8 percent, and is down 4.6 percent in May. Japan’s Topix (TPX) index swang between gains and losses. Standard & Poor’s 500 Index futures and FTSE 100 Index contracts were steady. The yen fell against all 16 major counterparts. The so-called Aussie slid 0.3 percent to 96.38 U.S. cents.
India’s gross domestic product increased 5 percent in the year ended March 31, compared with 6.2 percent in the previous period, a government report showed. Data due today may show U.S. consumer spending stagnated, reducing bets the Federal Reserve will scale back its purchases of bonds. Japan’s industrial production expanded 1.7 percent in April, an initial sign of success for Prime Minister Shinzo Abe’s economic revival campaign.
“Price moves are being exaggerated by thin volume” as investors stay on the sidelines, said Alex Wong, a Hong Kong-based director at Ample Capital Ltd. “You can’t be bullish after the market fell so much, but with foreign markets being so resilient, you can’t be too bearish.”
The Topix slumped yesterday, passing the 10 percent threshold some investors use to define a correction. Even after yesterday’s plunge, the gauge is still up more than 30 percent this year after the Bank of Japan pledged to reach 2 percent inflation within two years with unlimited bond buying and by doubling the monetary base.
Shipping, Brokerages
Shipping companies dropped the most among 33 industry groups on the Topix, with Mitsui O.S.K Lines Ltd. falling 4.9 percent. Nomura Holdings Ltd. declined 2.7 percent to lead a slide among securities firms. Sony Corp. increased 3.3 percent after people familiar with the matter said the electronics maker is consulting banks about a proposal to take part of its entertainment unit public.
“The market is trying to find a place to settle,” said Takashi Aoki, a Tokyo-based fund manager at Mizuho Asset Management Co., which oversees about $33 billion. “We don’t know where the bottom is yet.”
The Indian rupee declined 0.3 percent to 56.51 per dollar, while the S&P BSE Sensex retreated 1.2 percent, the most among Asian indexes.
As many stocks rose as fell on the MSCI Asian gauge. South Korea’s Kospi (KOSPI) index added 0.2 percent and Australia’s S&P/ASX 200 Index climbed 0.2 percent. Shares in Hong Kong, Taiwan and China fluctuated. Singapore’s Straits Times Index slipped 0.7 percent and Thailand’s SET Index lost 0.6 percent.
Yen, Aussie
The yen weakened 0.3 percent to 101.03 per dollar, while Japan’s 10-year government bond yield slid three basis points to 0.86 percent as signs of deflation suggested the Bank of Japan will need to sustain stimulus. Consumer prices excluding fresh food fell 0.4 percent in April from a year earlier, the statistics bureau said in Tokyo today, matching the median estimate of 29 economists in a Bloomberg News survey.
Australia’s dollar fell today after having risen 0.5 percent in the previous two sessions. It’s headed for its biggest monthly decline in more than two years on speculation a slowdown in China will weigh on the economy, encouraging the Reserve Bank to cut interest rates this year.
Gold for immediate delivery gained as much as 0.6 percent to $1,422.10 an ounce, the highest since May 15, before trading at $1,420.08. Prices are up 2.4 percent this week.
Data yesterday showed that the U.S. economy grew at an annualized 2.4 percent pace in the first quarter, down from a preliminary reading of 2.5 percent, boosting speculation the Fed may maintain its purchases of $85 billion of Treasury and mortgage debt a month.
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