Asian Equities slump as fiscal cliff hovers

Note: This section contains information in English only.
Source: Bloomberg
© scanpix/reuters

Asian equities dropped touching the lowest level in six weeks and the Japanese yen rallied on Barack Obama's re-election. Investors are setting to the sidelines fearing from the fiscal cliff. The MSCI Asia Pacific Index (MXAP) fell 1.3%, and 56% of the reading's companies reported lower-than-expected profits. Meanwhile the Nikkei 225 Stock Average index eased 1.6% on tumbling orders for Japanese machinery, and the Yen traded up against its major counterparts.

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Thu, 08 Nov 2012 08:06:22 GMT

Australian dollar touches 7-week high against kiwi

Aussie advanced to its seven-week high against the New Zealand's dollar and traded up versus its major peers amid improving employment in Australia, and expectations on Reserve Bank to cut borrowing costs in December. The Australian dollar gained 0.2% to NZ$1.2740, after peaking to NZ$1.2748 earlier. Meanwhile, the kiwi lost to the U.S. dollar, by dropping 0.2% to 81.67 cents on soaring unemployment.

Wed, 07 Nov 2012 16:43:25 GMT

German shares tumble as European Commission lowered forecast

German equities swung to losses as the eurozone's growth forecast cut outweighed US President's re-election. The European Commission also lowered its forecast for Germany from 1.7% to 0.8% for 2013. Adding to the negative mood of the stocks, German industrial production tumbled more than expected in September. An unexpected fall in the eurozone's retail sales also added to losses. The

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