Asia equities drop as uncertainty sneaks back into markets

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/AFP
On Wednesday Asian shares experienced modest decline as European Finance Ministers announced further meetings will be held in next month, returning uncertainty back to markets. China's Shanghai Composite index lost 2.3%, South Korea's Kospi traded down 0.7% while Hong Kong's Hang Seng Index declined 1.9%. Australian S&P/ASX 200 fell 0.1% and Japan's Nikkei Stock Average edged down 1.3%.

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Wed, 30 Nov 2011 08:43:29 GMT

S&P cuts ratings on 15 banks, 20 other left unchanged

On Tuesday Standard & Poor's Ratings Services downgraded ratings of 15 international banks. The downgrade takes place amid new rating methodology implementation. New system incorporates into banks' ratings the degree of government provision. So far, new criteria have affected 37 banks. Among firms that experienced immediate cut were four major US banks: Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and J.P. Morgan Chase

Tue, 29 Nov 2011 16:00:45 GMT

ECB drains from banks EUR 194.199Bln

The ECB drained EUR 194.199 billion from banking system in line with its seven-day liquidity declining project. However, the amount is less than expected as the bank planned to drain EUR 203.5 billion. The bank also reported that 85 banks made bids reaching EUR 194.1986 billion.

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