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    Andre Setiawan
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    Asian shares tumbled as concerns over the European banking sector spread to the region. Japanese stocks fell sharply as the yen strengthened against the dollar and euro, hurting export-oriented companies. Several major Japanese companies, including Advantest and Daikin Industries, saw their shares decline. In Hong Kong, China Mobile dropped after Vodafone sold its stake in the company for $6.5 billion. Most Hong Kong stocks ended lower as property developers faced potential new regulations in China.

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    Asian Market Review - September 8th 2010

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    MG 080910a

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    Asian shares tumbled as concerns over the European banking sector spread to the region. Japanese stocks fell sharply as the yen strengthened against the dollar and euro, hurting export-oriented companies. Several major Japanese companies, including Advantest and Daikin Industries, saw their shares decline. In Hong Kong, China Mobile dropped after Vodafone sold its stake in the company for $6.5 billion. Most Hong Kong stocks ended lower as property developers faced potential new regulations in China.

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    Download as PDF, TXT or read online from Scribd
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    32 views1 page

    Market Review: Asia

    Uploaded by

    Andre Setiawan
    Asian shares tumbled as concerns over the European banking sector spread to the region. Japanese stocks fell sharply as the yen strengthened against the dollar and euro, hurting export-oriented companies. Several major Japanese companies, including Advantest and Daikin Industries, saw their shares decline. In Hong Kong, China Mobile dropped after Vodafone sold its stake in the company for $6.5 billion. Most Hong Kong stocks ended lower as property developers faced potential new regulations in China.

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    of 1

    Market Gazer Hong Kong - Japan - Germany - UK - North America

    market review : asia US$150 million. Shares of Swire Pacific


    slipped 0.6% to HK$97.90.
    Asian shares tumbled
    as jitters on European Property stocks were also hit by the
    banking sector report by 21st Century Business Herald
    haunted the region, that new curbs will include ending loans
    following the fate of the US shares which to real estate developers, a compulsory
    also slipped overnight. Especially for reduction of housing prices, and a ban on
    Japan, yen’s resurgence against the dollar third-home purchases. The source was
    and the euro also sent the shares of said to be an unidentified person close to
    export-oriented companies reeling. the Ministry of Housing and Urban-Rural
    USDJPY reached ¥83.34 today, while Development.
    EURJPY fell to as low as ¥105.78. Nikkei
    225 average slumped 201.40 points or In Japan, other than Advantest which shed
    2.18% to end at 9,024.60, Hang Seng 4.35% on Wednesday, Daikin Industries
    Index tumbled 312.93 points or 1.46% to and TDK Corporation also fell. Daikin
    finish at 21,088.86, and Shanghai Stock retreated 3.56% to ¥2,927 while TDK was
    Exchange retreated 0.11% to 2,695.29. down 3.16% at ¥4,595.

    Advantest was down Most shares in Hong Kong ended in the


    4.35% to ¥1,583 after its president Haruo red zone, with China Resources Enterprise
    Matsuno talked down the forecast which and China Shenhua lost 3.14% and 2.98%,
    expected the end of the fiscal year (March respectively, joining China Mobile
    2011) would yield profit of ¥17 billion. languishing at the bottom. Bucking the
    broad-based decline, BOC Hong Kong and
    In Hong Kong, China Mobile was hit by the Cathay Pacific advanced 1.79% and 1.25%,
    sale of its 3.2% stake held by Vodafone respectively.
    yesterday. The European company’s stake
    Disclaimer: This report is provided for information purposes
    was valued at $6.5 billion and the sale was only. It is not an offer to sell or to buy any securities. This
    the biggest divestment done since Vittorio report has been prepared based on sources believed to be
    reliable, but there is no assurance or guarantee regarding its
    Colao took the lead at Vodafone in 2008. completeness & and accuracy. The author accepts no
    China Mobile ended 3.8% down at responsibility or liability arising from any use of the report.

    HK$78.90.

    Swire Pacific
    announced that it agreed to sell its stakes
    in two beverage-can joint ventures to
    Crown Holdings, another partner in the
    joint ventures. The sales will worth

    E-mail: market.techspeak@gmail.com
    8 September 2010 Page 1

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