Asian Stocks Mostly Lower

Posted by admin on Jul 7th, 2010 and filed under Business. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Asian Stocks Mostly Lower Asian stocks largely declined Wednesday after weak U.S. data refueled worries about the strength of the global economic recovery. Technology shares dropped, unimpressed by Samsung Electronics' forecast of a record operating profit. More MarketBeat: China Reaffirms U.S. Treasury Importance MarketBeat: Yuan's Rise to Slow, Won to Rally - Poll Dow Snaps Losing Streak "It's the same story from before; the market can't free itself from recent worries about slowing growth in the U.S. and China," said Samsung Securities analyst Oh Hyun-seok in Seoul. "The U.S. market's weakness toward the end of (Tuesday's session) is also negatively affecting sentiment."Japan's Nikkei Stock Average fell 0.6%, Australia's S&P/ASX 200 gave up 0.5%, South Korea's Kospi lost 0.6%, Taiwan's Taiex slipped 0.2% and India's Sensex gave up 0.6% in afternoon trade.China's Shanghai Composite Index ended 0.5% higher after enduring a choppy trading session, as gains in consumer and cement stocks offset broad declines in banks.[Read more...]

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