Mixed day for Asia-Pacific markets as Europe, US see declines

Asia-Pacific equities markets were mixed to end the week on Friday. Shippers were higher in the region on advances in cargo rates, while shipbuilders also saw gains. Taiwan’s Taiex added 0.14 percent to 7,876.37 while the Hang Seng was up 0.53 percent to 24,148.43 in Hong Kong. The FTSE Straits Times index was 1.41 percent higher to 3,088.68 and the Sensex gained 1.96 percent to 18,115.25. The Kospi was 0.16 percent lower to 1,694.77 while the Shanghai Composite fell 1.21 percent to 4,497.13. In Australia, the Sydney Ordinares dropped 1.19 percent to 5,679.8 and the S&P/ASX200 was down 1.38 percent to 5,606.6.

Markets were mixed in Tokyo. The Nikkei 225 dropped 0.03 percent to 13,622.56, but the Topix added 0.18 percent to 1,334.89 and the Mothers market jumped 7.28 percent to 655.44. The Topix was up, for its best week since November, on advances by shares related to commodities. Traders were higher and the oil sector saw gains on expectations that oil prices will continue to rise.

European equities markets were lower on concerns that banks will see even more losses than they already have. The pan-European FTSE Eurofirst 300 was 1.96 percent lower to 1,309.34. The Paris CAC-40 was down 1.79 percent to 4,771.79 and the IBEX fell 1.8 percent to 13,073.9 while the Dax dropped 1.87 percent to 6,832.43 in Frankfurt. The pharmaceuticals sector saw declines on broker downgrades within the sector. Chipmakers also declined, as did utilities and airlines. There were only 6 winners on the CAC-40 while the Dax only saw three companies make gains, with medical devices manufacturers leading the Frankfurt index. Food processors, carmakers, and steel products manufacturers were among the winners on the CAC-40.

London’s markets were also lower on the session. The FTSE 100 was 1.56 percent lower to 5,787.6 while the FTSE 250 dropped 1.9 percent to 9,897.9. Most miners were lower, but still managed to take the top two spots on the winners list on the 100. The oil sector was also lower, as were airlines, banks, and retailers. Other sectors seeing gains included confectioners and chemicals.

Wall Street was down in midday trade as investors remained worried about the economy after a New York manufacturing index and consumer confidence were both reported down while import prices were higher, largely on gains in oil prices. The Dow Jones Industrial Average was 0.73 percent lower to 12,287.24 and the Nasdaq Composite fell 0.97 percent to 2,309.97 while the S&P 500 dropped 0.63 percent to 1,340.31. Consumer electronics retailers saw declines on a profits warning from one component of the sector. Banks, the chemicals sector, and bond insurers were also lower. There were gains among carmakers and in the pharmaceuticals and media sectors.

Story link: Mixed day for Asia-Pacific markets as Europe, US see declines