Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a726175

Asian shares down on China services data

by Himanshu Singh on Jan 06, 2014 at 05:20

Asian shares down on China services data

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.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Long time coming: is the recovery here to stay?


Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

More about this:

Archive

On the road

Click here to find out more from the Audience Development team.

Read more...

Revealed: the fund stars of the future

on Apr 24, 2014 at 14:30

Sorry, this link is not
quite ready yet