Japanese stocks slid; defensive shares led losses

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Source: Dukascopy Bank SA
© Scanpix/Reuters
Japanese equities retreated on Monday amid mounting uncertainty over presidential elections in the US. However, recent strong data from the US labour market coupled with slower Yen appreciation were supportive for Japan's blue chips. The Nikkei 225 Index moved lower by 0.48% to close at 9,007.44. Oil and gas firms as well as consumer goods were the only two sectors to climb. Showa Shell Sekiyu was the second biggest gainer as bottom-fishing boosted crude oil prices in Asian trading. Meanwhile, Minebea was the top-performer despite reporting slightly weaker-than-expected quarterly results on Friday. On the downside, utilities and telecommunications dropped 1.36% and 1.10%. Kansai Electric Power and Tokyo Electric Power plunged 6.81% and 1.49% while KDDI and Nippon Telegraph & Telephone sagged 0.16% and 1.24%. Sharp dropped 6.67% after Fitch Ratings downgraded the firm's credit rating to B minus.  Panasonic extended previous losses on Monday, falling 5.60%.


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Mon, 05 Nov 2012 16:14:16 GMT

Hong Kong equities retreated on caution ahead US elections

Hong Kong shares moved lower on Monday amid increased cautiousness among traders ahead of the US presidential elections due on Tuesday. Limiting the downswing, US non-farm employment rose more than expected in October while manufacturing contraction in the eurozone slowed last month. The Hang Seng Index shed 0.48% to close at 22,006.40. Only two sectors included in the index inched

Mon, 05 Nov 2012 15:43:14 GMT

Dow sank ahead of US presidential elections

Dow plunged in a volatile trading session on Friday as investors fled to save-haven assets ahead of the US presidential elections due next week. However, upbeat job reports from the national economy coupled with better-than-expected PMI releases from the eurozone limited the upswing of the US blue chips. The Dow Jones Industrial Average Index sank 1.05% to end the week

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