View the article online at http://citywire.co.uk/money/article/a606059
Asian equities decline on growth concerns
Hong Kong’s Hang Seng Index slid 2.6% dragged down by its largest constituent HSBC.
Asian shares declined in Monday in late morning trade on concern Greece may exit the currency bloc and as a Chinese central bank board member warned of slowing growth.
The MSCI Asia Pacific Index tumbled 1.5% at 11:14 a.m. in Tokyo. Equities fell after Song Guoqing, a member of the People’s Bank of China monetary policy committee, said that China’s economic expansion may cool for a seventh straight quarter to 7.4% in the three months to September.
In Europe, Greece’s creditors will meet this week amid doubts that the country will meet its bailout commitments. The Der Spiegel magazine reported that the International Monetary Fund will stop paying further rescue aid to Greece, making the country’s insolvency in September more likely.
In another bad news, when another region of Spain, Murcia, said on Sunday it would seek government financial assistance.
Hong Kong’s Hang Seng Index slid 2.6% dragged down by its largest constituent, HSBC, which tumbled 4.1%. China’s Shanghai Composite Index declined 1.15%.
Japan’s Nikkei Stock Average 225 declined 1.18% as local exporters with a large exposure to Europe were hit by the weakened euro. Sony fell 3.1% and camera maker Ricoh sank 5.6%.
Korea’s KOSPI Index fell 2.3% as investors offloaded banks and energy stocks at the start of a busy week of earnings reports, with releases from major companies like LG Electronics and Hyundai Motor on the slate.Australia’s ASX All Ordinaries Index was down 1.64% offsetting a large chunk of the 2.8% gain that it made last week.
News sponsored by:
The Citywire guide to investment trusts
In association with Aberdeen Asset Management
Andrew Friend, acting co-manager*, and Marcus Langlands Pearse, co-manager of the Henderson UK Property Unit Trust (HUKPUT), provide an overview of the key risks and opportunities for the UK commercial property market.
More about this:
Tools from Citywire Money
From the Forums
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add firstname.lastname@example.org to your safe senders list so we don't get junked.
by Gavin Lumsden on Apr 16, 2014 at 15:17