The MSCI Asia Pacific Index lost 0.4% and dropped to 133.65 points in the end of Asian trading session on Tuesday. Investors were concerned about Italian elections, which might reignite European debt crisis. Also, China's government announced that it may introduce more tools to curb real estate prices and cool the market, what potentially may hurt total domestic growth.
Farm commodities except for corn finished in the red territory on Monday amid improving weather conditions in the US and South America. Sending rural commodities lower, speculators continued to reduce net long positions after the USDA at its Outlook conference expressed optimism about this year's harvest. Wheat plunged to an eight-month low as the second snowfall brought a relief to US
Energy futures apart from natural gas were steady on Monday on weak demand for risky assets amid elections in Italy. Solid greenback and caution ahead of the Fed Chairman Ben Bernanke testimony due on Tuesday also put pressure on the commodity complex. Crude oil retreated amid appreciation in the US Dollar. Pushing the commodity lower, China's manufacturing activity expanded at
Industrial metals were mixed on Monday amid elections in Italy and concerns over recession in the Eurozone. Stockpiling at the LME warehouses and weaker-than-expected HSBC flash manufacturing PMI data also put heavy selling pressure on the base metals complex. China's manufacturing PMI reached a four-month low of 50.4 in February, compared to expectations of 52.2. Aluminum prolonged its slump after
Precious metals were mixed on Monday on speculation the Fed Chairman Ben Bernanke will support continuation of the growth-boosting measures at his testimony on Tuesday. Moreover, precious metals regained their safe-haven appeal amid uncertainty over Italian elections. Gold jumped on signs of rising demand in China. Daily volumes for spot gold on the Shanghai Gold Exchange have more than doubled
U.S. blue chips were red on Monday amid speculation Berlusconi's victory in the Italian parliamentary election would favour political instability in Italy and worsening debt crisis in Europe. The Dow Jones Industrial Average plunged 1.6% to 13,784.17 at its close. All sectors in the gauge paired losses and only two companies among all blue chips posted positive results. McDonald's Corp.
The Australian Dollar rose versus most of the major counterparts, halting earlier losses, as increase in metal prices boosted demand for the currency of the South Pacific country. The Aussie added as much as 0.1% to $1.0271 as of 4:36 p.m. in Sydney from a day earlier, when it fell 0.6%. The Currency climbed 0.3% to 94.43 yen, jumping form
South Korea's Won declined for a second straight day as Italy's election results boosted concerns the Eurozone debt crisis is deepening. The Won fell 0.1% to 1,087.73 per U.S. Dollar at 10:17 a.m. in Seoul. One-month implied volatility increased 11 basis points to 7.47%. Government bonds climbed, pushing 3-year yield to a record low.
Japan's currency declined versus the U.S. Dollar amid speculation the BOJ will expand monetary stimulus further to boost economic growth in the world's third-largest economy. The Japanese Yen lost 0.1% to 91.90 per greenback at 1:45 p.m. in Tokyo after touching 90.88 yesterday, the highest level since January 31. The Yen traded at 119.88 per Euro, after sliding 1.2%.
German shares edged higher, extending their gains for a second consecutive day on speculation the nominee for the BOJ governor's position is likely to extend monetary stimulus and Pier Luigi Bersani might win the parliamentary election of Italy. All but one group in the benchmark gauge advanced. The DAX Index rose 1.18% to 7,750.65 by 17:36 p.m. in Frankfurt. Deutsche
U.K. equities extended their gains for a second straight day, sending higher the FTSE 100 Index at the beginning of the session, yet pairing losses later in the session. However, the index is heading towards its longest winning steak in fifteen years, as BP Plc. and Anfogasta Plc. Shares rallied, offsetting the downgrade of country's credit rating. The FTSE
Hong Kong equities advanced on Monday, rebounding from their Friday's 2013 low, as city government announced more stimulus to cool the market and strong results of HSMC Holdings offset the local developers' weakness. The Hang Seng index rose 0.2% to 22,280.1. All but two groups edged higher. The property sector of Hong Kong shrank after the city government introduced higher
Spot price of gold was higher by 0.6% to $1.590.89 an ounce in the morning of London trading session on Monday. Prices slipped by 1.8% last week and reached $1,555.55 on 21 February. Today gold increases for the third day, as data indicated that central banks in Russia and Kazakhstan extended their bullion stocks last month.
Wheat futures for May settlement were lower by 0.5% to $7.1225 per one bushel in the very beginning of Chicago trading session on Monday. Wheat dropped to an eight month low as investors speculate that snowstorm will help to ease drought situation in the U.S. Great Plains, before crops arise from dormancy. Currently the winter wheat are very poor condition as drought period was
Japanese stocks jumped on Monday, sending the Nikkei 225 Stock Average to close at its four year high, as the Yen depreciated after the Prime Minister Shinzo Abe named a candidate for BOJ's governor position that is more likely to be in favour of more monetary stimulus. The Nikkei 225 Stock Average rallied 2.4% to 11,662.52, the highest level
U.S. stocks rose on Friday, as comments from the officials of Federal Reserve downplayed concerns over ending the growth-boosting activities. The Dow Jones Industrial Average rallied 0.86% to close at 14,000.57. All but one group in the benchmark index advanced. Hewlett-Packard gave a strong boost for the Dow after posting higher-than-expected revenue. Coca-Cola Co climbed 2.2% to $38.52 and lifted
U.S. shares were bullish on Friday, supported by sound results from Hewlett-Packard Co. In addition, concerns over Federal Reserve's Policy faded. The S&P Index rallied 0.88%, yet posting a 0.3% decline on the week. All sectors in the gauge edged higher. Hewlett-Packard took the market leader position with its shares jumping 12.3% to $19.20 after the PC maker posted strong
Despite the forecast rise of U.K mortgage approvals to 34,000, there was a rapid drop to 32,288 in January from 33,440 the month before. Meanwhile, gross mortgage borrowing was above the latest monthly average rising to 7.7 billion GBP in January. According to BBA report, consumer claims for borrowings and overdrafts stayed quite low and the reimbursement of insecure personal
West Texas Intermediate oil almost reached two-day high ahead of negotiations with Iran on its nuclear programme tomorrow in Kazakhstan. WTI April-delivery oil was little changed on Monday in New York and was settled $93.05 a barrel, 8 cents lower, after gaining to $93.13 on February 22, the strongest since February 20. The contract for Brent oil April-delivery lost 19
Chinese manufacturing growth unexpectedly slowed in February as foreign orders declined and output expanded at a slower pace, clouding hopes of economic rebound in the beginning of 2013, according to data released by Markit Economics. The HSBC flash Manufacturing PMI fell to 50.4, the lowest level in 4 months, from 52.3 in January. The manufacturing output index declined to 50.9
Asian shares advanced, prolonging last week's gain, as Japan's stocks rose amid speculation the next BOJ Governor will implement aggressive monetary easing. The MSCI Asia Pacific Index added 0.3% to 134 at 3:44 p.m. in Tokyo after increasing 0.5% last week. Japan's Topix Index climbed 1.8%, while the Nikkei 225 Stock Average advanced 2.3%, heading for the highest close since
The Australian Dollar fell versus most of the major counterparts as preliminary data indicated China's manufacturing activity expands at a slower pace, clouding the outlook for Australia's exports. The Aussie fell 0.4% to $1.0278 as of 4:59 p.m. in Sydney. It fetched 97.73 yen, the strongest level since August 2008, before touching 96.81, 0.4% above the close on Friday.
The Yen depreciated to the weakest since May 2010 as Japan's government decrease number of candidates for the position of the Bank of Japan governor. The Yen weakened versus all its main counterparts on concerns Shinzo Abe, Lapar Prime Minister, will nominate Huriko Kurodo, the president of Asian Development Bank, for BOJ governor. The Asian currency dropped 0.9% versus the U.S. Dollar to 94.21 per Dollar
Farm commodities were mixed on Friday, with softs advancing and grains sliding. Pushing the commodity group higher, port workers began a strike in Brazil, stopping a loading of sugar and corn onto boats in Santos. However, improving weather conditions in the US Great Plains as well as bearish USDA report put heavy selling pressure on grains. Wheat plunged on hopes that