Asian stock markets outlook for April 12, 2011 : Asian stock markets ended lower on Tuesday, led by declines from commodities after International Monetary Fund (IMF) cut its outlook for the US economy.
The IMF's World Economic Outlook has put world economic growth at 4.4 per cent this year, down from five per cent last year. It has forecast the world's biggest economy, the US, to expand by just 2.8 per cent in 2011, compared to its previous forecast of three per cent, saying lackluster jobs growth and high oil prices will hold the recovery back.
Tokyo shares declined after Japan nuclear agency has raised severity level of the crisis at a stricken nuclear plant Tuesday to rank it on par with the 1986 Chernobyl disaster. Benchmark Nikkei declined 1.69 percent or 164.44 points to 9,555.26.
Exporters’ shares declined as yen gained against dollar and euro. Sony Corp. declined 2.87 percent and Nikon Corp. declined 3.3 percent, while Canon Inc. fell 1.11 percent.
Commodity shares fell as energy and metals prices declined. Inpex Corp. declined 5.19 percent to 620,000 yen.
Hong Kong shares ended lower as energy stocks plunged after a sharp pullback in crude-oil prices. Hang Seng index fell 326.70 points or 1.34 percent to 23,976.37 and Chinese Shanghai composite gained 0.02 percent or 0.58 points to 3,022.33.
Cnooc Ltd. declined 2.88 percent to HK$19.86 and PetroChina Co. plunged 4.86 percent to HK$11.74 as crude oil prices fell below $109 on profit taking.
South Korean Seoul composite declined 32.99 points or 1.55 percent to 2,089.40. Samsung Electronics declined 1.34 percent and Hyundai Motor fell 2.91 percent, while LG Chem Ltd. declined 3.2 percent.
The IMF's World Economic Outlook has put world economic growth at 4.4 per cent this year, down from five per cent last year. It has forecast the world's biggest economy, the US, to expand by just 2.8 per cent in 2011, compared to its previous forecast of three per cent, saying lackluster jobs growth and high oil prices will hold the recovery back.
Tokyo shares declined after Japan nuclear agency has raised severity level of the crisis at a stricken nuclear plant Tuesday to rank it on par with the 1986 Chernobyl disaster. Benchmark Nikkei declined 1.69 percent or 164.44 points to 9,555.26.
Exporters’ shares declined as yen gained against dollar and euro. Sony Corp. declined 2.87 percent and Nikon Corp. declined 3.3 percent, while Canon Inc. fell 1.11 percent.
Commodity shares fell as energy and metals prices declined. Inpex Corp. declined 5.19 percent to 620,000 yen.
Hong Kong shares ended lower as energy stocks plunged after a sharp pullback in crude-oil prices. Hang Seng index fell 326.70 points or 1.34 percent to 23,976.37 and Chinese Shanghai composite gained 0.02 percent or 0.58 points to 3,022.33.
Cnooc Ltd. declined 2.88 percent to HK$19.86 and PetroChina Co. plunged 4.86 percent to HK$11.74 as crude oil prices fell below $109 on profit taking.
South Korean Seoul composite declined 32.99 points or 1.55 percent to 2,089.40. Samsung Electronics declined 1.34 percent and Hyundai Motor fell 2.91 percent, while LG Chem Ltd. declined 3.2 percent.
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