View the article online at http://citywire.co.uk/money/article/a650599
Asian markets oscillate between gains and losses
Singapore property developers declined after the government rolled out additional cooling measures.
Asian stocks oscillated between gains and losses as Singapore property developers declined after the government rolled out additional cooling measures.
The MSCI Asia Pacific Excluding Japan Index lost 0.1% to 476 as of 10:32 a.m. in Hong Kong. Singapore’s Straits Times Index and Taiwan’s Taiex dropped 0.7%, while South Korea’s Kospi Index rose 0.2%. Hong Kong’s Hang Seng Index and China’s Shanghai Composite Index both gained 0.3%.
Australia’s S&P/ASX 200 Index added 0.3%, paring earlier gains as home-loan approvals unexpectedly dropped in November. The Japanese equity market is shut for a holiday.
CapitaLand Ltd. and City Developments Ltd., Singapore’s biggest developers, fell more than 5%. Li & Fung Ltd., the world’s largest supplier of clothes and toys to retailers, plunged 15% in Hong Kong after posting a 40% decline in operating income last year.
Northern Star Resources Ltd., an Australian gold producer, rose 4.2% in Sydney after reporting increased output.
Meanwhile, the yen plumbed a 2-1/2 year low against the dollar today as Japan's central bank faced further political pressure to deliver bold stimulus.
Prime Minister Shinzo Abe on Sunday said the Bank of Japan must set a 2% inflation target and make it a medium-term, not long-term, goal to pursue bold monetary easing.A slide in oil prices was also stemmed amid optimism about the global economy. US crude rose 29 cents to $93.85 a barrel, recovering from Friday's 26-cent fall, while Brent crude was little changed at $110.62 a barrel.
News sponsored by:
The Citywire guide to investment trusts
In association with Aberdeen Asset Management
What can SLI bring to the table for those who want to put their money into investment trusts?
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.