Asian stock markets take a breather
events, features, news, publications, top news July 2nd, 2010A little respite on Friday in Asian markets. After more than five consecutive days of decline, the most important place on the continent Asia-Pacific represents a reversal of trend. The Nikkei started Friday's session up 0.47% earning 43 points to 9234 points. An advance that the Tokyo market has struggled to keep since mid-session, the majority of gains were erased.
In contrast, Hong Kong, the trend is clearly down because the benchmark Hang Seng yield 1.38%. In Australia, the Sydney Stock Exchange ahead slightly (+0.1%).
The mining stocks rose
In Tokyo, the market is mainly guided by higher mining shares following the downward revision of tax on the profits of these companies decided by the Australian government. This has encouraged new JX Holdings Inc., an oil refiner and producer of copper jumped 3.5%.Inpex, oil explorer, rose 3.2%. Komatsu, the largest manufacturer of earthmoving Asia, gaining 1.5%.
In contrast, the values are auto oriented down significantly, especially for Honda (-1.89%) and Toyota (-2.27%), after the monthly statistics considered disappointing sales in the United States.
Evolution contrast to oil
On the oil market, crude prices were mixed in electronic trading. In morning trading, a barrel of light sweet crude for August delivery gained 18 cents to 73.13 dollars a barrel, while Brent North Sea for delivery in August, yielding six cents to 72.28 dollars. Oil prices fell Thursday in New York on a market worried that sent the barrel under $ 73.
Volatility remains high on the market
Investors remain nervous about the possibility that the slower recovery of the global economy becomes more pronounced. On Friday afternoon will be known monthly unemployment statistics in the United States before the opening of Wall Street. They could reflect a deterioration of the labor market for the first time since December, according to economists.
The indicators Thursday were accentuated anxieties of investors. The ISM index of activity in the manufacturing sector declined more than expected to 56.2%. On the front real estate, the promise of selling homes fell more than expected in May (-30%). In China also, the two indices of purchasing managers showed a slowdown in manufacturing activity in June
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