View the article online at http://citywire.co.uk/money/article/a726175
Asian shares down on China services data
Energy and telecommunication services led decline after a gauge of China’s services industries dropped, signalling growth may be sluggish in the world second-biggest economy.
Asian shares declined on Monday in midsession led by energy and telecommunication services after a gauge of China’s services industries dropped, signalling growth may be sluggish in the world second-biggest economy.
The MSCI Asia Pacific Index slipped 0.8% to 139 as of 12:25 pm in Tokyo. Japan’s Topix index fell 1% as the nation’s markets reopened after holidays. The Nikkei 225 dropped 2.2% after climbing on 30 December to its highest close since November 2007.
South Korea’s Kospi index gained 0.5%, while Australia’s S&P/ASX 200 Index fell 0.6% and New Zealand’s NZX 50 Index was little changed. Singapore’s Straits Times Index rose 0.1% and Taiwan’s Taiex index declined 0.4%. Hong Kong’s Hang Seng Index slid 0.8%, while China’s Shanghai Composite Index lost 2%.
Shares declined after a private index of China’s services industry released today by HSBC and Markit Economics declined to 50.9 last month from 52.5 in November.
In corporate news, SoftBank Corp., a Japanese mobile phone operator, fell 2.7% after the rating of Sprint Corp., which SoftBank acquired last year, was slashed at Cowen and Company.
Fast Retailing Co., Asia’s biggest apparel chain, lost 4% in Tokyo as the Nikkei 225 Stock Average slipped from a six-year high.
China Railway Group Ltd. slumped 6.4% in Hong Kong after the company said its president died in an accident.
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 email@example.com to your safe senders list so we don't get junked.
by Gavin Lumsden on Dec 19, 2014 at 17:24