Tokyo sees declines on economic worries

Tokyo’s equities markets were mostly lower on Tuesday on more data showing that the US economy is slowing down. The Nikkei 225 was down 0.27 percent to 15,207.86 and the Topix index fell 0.2 percent to 1,469.77. The Mothers market of small and mid-caps, however, added 2.1 percent to 800.61. Banks saw gains, but exporters were lower on fears that a slowing US economy will decrease demand for their products. Mobile phone service providers were mixed based on speculation about who will be granted new broadband licenses.

Markets in the rest of the Asia-Pacific region were mixed, also on worries about data about the US and global economies. New reports showed that homebuilder confidence is at a record low in the US, and manufacturing in both the US and Europe is growing more slowly. Gainers on the session included the Straits Times index, which added 0.47 percent to 3,369.31 in Singapore. The Hang Seng index was up 0.51 percent to 26,732.87 while South Korea’s Kospi index added 1.18 percent to 1,861.47.

Among decliners in the region, the Taiex index was down 0.3 percent to 7,807.39 in Taiwan. In Australia the ASX/S&P200 was 0.42 percent lower to 6,236.9 and the Sydney Ordinaries dropped 0.62 percent to 6,292.6. The Shanghai Composite fell 0.83 percent to 4,836.17 and India’s Sensex was down 0.94 percent to 19,709.64.

European markets were also mixed. The pan-European FTSE Eurofirst 300 dropped 0.16 percent. In Paris, the CAC-40 was down 0.1 percent to 5,509.37 and Madrid’s IBEX dropped 0.24 percent to 15,282.1, but the Dax added 0.32 percent to 7,850.74 in Frankfurt. Car and truck makers, some banks, and airlines saw gains. The oil and chemicals sectors and construction materials groups, on the other hand, were lower on the session.

In London, the FTSE 100 and FTSE 250 both saw gains. The 100 was up 0.02 percent to 6,279.3 while the 250 gained 0.46 percent to 10,187.2. Airlines and most miners were higher on the day, but banks and retailers were both mixed.

New York markets were higher in late afternoon trade, buoyed by the European Central Bank’s move to help the credit markets but guarded outlook statements from some sectors limited investor enthusiasm. The Dow Jones Industrial Average was 0.47 percent higher to 13,228.89 on a roller coaster day, while the Nasdaq Composite had added 0.66 percent to 2,591.53 and the S&P 500 was up 0.51 percent to 1,453.31. The banking and retail sectors both saw declines despite reports of gains in earnings from sector members.

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