Asia-Pacific equities gain amid European, US declines

Most equities markets in the Asia Pacific region saw gains on Friday. The major exception in Asia was India’s Sensex, which dropped 0.07 percent to 15,603.8. The Shanghai Composite added 0.73 percent to 5,312.18, while the Straits Times index was up 1.02 percent to 3,536.4. The Sydney Ordinaries gained 1.14 percent to 6,315 in Australia, while the S&P/ASX200 was 1.22 percent higher to 6,306.8. In Taiwan the Taiex index added 1.17 percent to 9,031.63. South Korea’s Kospi was up 1.19 percent to 1,870.02. Meanwhile in Hong Kong, the Hang Seng index closed at a new record high for the third day in a row as it gained 1.47 percent to 24,898.11.

The Tokyo equities markets were higher. The Nikkei 225 was 1.94 percent higher to 16,127.42. The Topix index gained 1.43 percent to 1,544.71, while the Mother’s market was up 1.34 percent to 637.25. The electronics sector, including digital camera makers and game console manufacturers, were higher, as were carmakers, brewers, and banks.

European markets declined on the session. The FTSE Eurofirst 300 was 1.07 percent lower to 1,508.11. The Paris CAC-40 dropped 0.49 percent to 5,538.92 and the Dax was down 0.51 percent to 7,497.74 in Frankfurt, while Madrid’s IBEX fell 1.54 percent to 13,861. Banks, retailers, airlines, and the IT sector saw losses. Automobile manufacturers were mixed, while utilities climbed.

The declines in London were even steeper, with the FTSE 100 1.17 percent lower to 6,289.3 and the FTSE 250 falling 1.95 percent to 10,954. Banks and mortgage lenders dropped after one bank had had to ask for help from the Bank of England. House builders were also lower, but the oil sector saw gains. Some retailers, publishers, miners, and the retail sector were also higher.

New York equities markets were down at midday on sales and consumer confidence data, although hopes for an interest rate decrease helped limit declines. In midday trade, the Dow Jones Industrial Average had dropped 0.08 percent to 13,413.99, while the Nasdaq Composite was down 0.14 percent to 2,597.47 and the S&P 500 had fallen 0.15 percent to 1,481.79. House builders and most airlines were higher despite the markets’ weaknesses.

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