Japanese shares tank on US fiscal impasse

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Source: Dukascopy Bank SA
Japanese shares tumbled on Friday amid fading hopes that US officials will manage to resolve a budget dispute timely. Moreover, investors were locking in gains before a three-day Christmas weekend. Depressing Japanese equities further, BoJ announced only modest easing on Thursday. However, sharp gains of the US equities as well as upbeat US data limited the downswing. The Nikkei 225 Index lost 0.99% to end the week below 10,000-mark at 9,940.06. Only four in ten industries climbed. Financials and oil and gas companies posted the biggest gains.  Sumitomo Mitsui Trust Holdings and Inpex Corp edged up 0.68% and 1.43%.  Meanwhile, property developers were also among the top-gainers, with Tokyo Tatemono and Heiwa Real Estate climbing 7.16% and 3.49% amid speculation that the inflation target will help to cut borrowing costs. Tokai Carbon surged 10.34% after Daiwa Securities Group raised its share rating to "buy". At the same time, industrials and basic materials led losses, with Mitsumi Electric and Nippon Steel & Sumitomo Metal tumbling 3.98% and 4.31%.


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Fri, 21 Dec 2012 12:48:20 GMT

Hong Kong stocks dropped on US budget uncertainty

Hong Kong equities ended the week in the red territory as lack of progress in the US budget talks weighted on the risk sentiment. However, strong gains of US counterparts capped losses of Hong Kong stocks. The Hang Seng Index dropped 0.68% to close at 22,506.29. Eight out of nine sectors plunged. The only gainer was utility industry, with Power

Fri, 21 Dec 2012 12:37:18 GMT

Aussie drops as U.S. Republicans canceled tax vote

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