2011年4月12日星期二

Asian, products stocks drop on Japan Quake, growth perspectives

April 12, 2011, 2: 41 am EDT by Shiyin Chen and Akiko Ikeda

April 12 (Bloomberg)--Asian stocks declined, sending index of reference of the region down by the most in a month and crude oil products has led after lower earthquake shook Tokyo and the Monetary Fund International cut the US and Japanese economic growth forecasts. The Swiss franc and the yen climbed.

The MSCI Asia Pacific Index fell 1.4 percent to 3 hours in Tokyo and the Nikkei 225 Stock average dropped 1.7 per cent. Future Euro Stoxx 50 Index dragged 0.7%. Those on the index of Standard & Poor s 500 has slipped 0.5%. Oil headed for the largest loss of two days since November, lost 0.8 percent copper and wheat fell 2 percent. Won the Korea of the South sank more than two months.The Japanese Government has raised the level of seriousness of the nuclear crisis today, when an earthquake of magnitude-6. struck 2 Chiba, East of Tokyo and an another hit of Fukushima. The record March 11 temblor prompted the IMF to minimize the economic of the Japan prospects, while the higher prices has stimulated a cut in its U.S. growth forecasts. "Alcoa Inc. sales that missed estimates, while JPMorgan Chase & Co. and Bank of America Corp. may show a decline in revenue in the first quarter, this week analysts show.""It seems that the uncertainties will remain for a long period of time," said Ikuo Mitsui, that allows to manage the 270 million to perennial Capital Management Co. "" as the Japan supply chain has been affected, there is a concern how that will affect the world economy. ""Almost eight shares collapsed for each acquired on the index of Asia - Pacific of the MSCI, while 214, dragged the Nikkei 225 members. The MSCI emerging markets Index fell by 1.2%, destined to fall more large operator of 15.Tepco, AlcoaTokyo Electric Power Corp., March of the damaged nuclear Fukushima Dai-Ichi, declined 10 percent after the company said the total quantity of radiation released in the complex may eventually exceed that of the disaster of Tchernobyl.Alumine Ltd., an Alcoa partner in the largest producer in the world of the material used to make aluminum, sank to 6 percent in Sydney. Alcoa, the aluminum U.S. producer, fell by more than 3% in trade extended after their turnover in the first quarter to increase billion, behind the average estimate 6.06 billion in eight analysts in a survey of Bloomberg.Signal of the S & P 500 futures can withdraw todayextending a three-day slump. JPMorgan may report net adjusted rose 41 per cent in the year previous quarter $ 4.68 billion, while income has probably decreased by 9.5% to $ 25 billion, considers that analysts surveyed by Bloomberg. Bank of America can say profit dragged 2.8 per cent to 3.09 billion over a drop of 19 per cent of the income of $ 26.5 billion, showed a separate study.Copper, OilInpex Corp. dropped from 5.2% in Tokyo and Cnooc Ltd. fell by 3.2%, Hong Kong stimulation of declines in energy producers. Korea Zinc Co. collapsed 2.1% and BHP Billiton Ltd. fell by 1.4 percent in Sydney.S & P GSCI Index of 24 materials decreased 1%, extending the decline of 1.3 per cent yesterday. Immediate delivery but dropped by 0.5% to $1,455.80 an ounce. Copper for the delivery of three remote months of 0.8 per cent of $9,773.75 per tonne on the London Metal Exchange. Corn fell by 1.1% to $7.725 a bushel, while wheat sank 2 percent to $8.1525 a bushel.Oil for may delivery fell as much from 1.9% to $107.87 US per barrel before reaching $108.49 after hours of electronic trade on the New York Mercantile Exchange. Futures lost 2.5% yesterday, takes a maximum of 30 months after the IMF growth forecasts and the African Union has attempted to negotiate a ceasefire in Libya. The loss of two days will be the most since 17 November the threat of further increases in oil prices has become a "key downside risk" for global growth, the IMF said in its World Economic Outlook Report.Inflation Concern "too high inflation is of course always something of concern" Andreas Roemerinvestment officer head for emerging markets based on Frankfurt DWS Investment Management GMBH, said in an interview with Singapore. "Forecasts for the global economy have declined but the growth of emerging markets remains very solid."The cup of IMF growth forecast 2011 for the United States to 2.8 percent from 3 percent and lowered its estimate for the Japan to 1.4 per cent of 1.6%. The earthquake on March 11 can lead to a greater success in the economy than previously estimated, said today at the Japan Economic and fiscal policy Minister Kaoru Yosano. forecast by the IMF for the growth of the Euroregion was raised by 0.1 percentage point each to 1.6% in 2011 and 1.8% in 2012. Index ZEW of the Germany of the investor and the expectations of analyst, which aims to predict developments in six months in advance, fell to 11.3 14.1 in March, according to the median forecast of 36 economists surveyed by Bloomberg before today's report.Risk AversionThe yen appreciated to 83.92 per dollar of 84.60 yesterday. The Japan currency increased by 1.2% at 120.74 per euro, while the franc rose 0.4% to 1.3034 per euro.Reactor at the Fukushima plant were eliminated after an earthquake of magnitude 9 on March 11, which triggered a tsunami. Nuclear and industrial safety of the Japan Agency lifted the level of rating on leakage of radiation from Fukushima at 5 7, an agency official said today in a briefing televised, corresponding to that of the 1986 Chernobyl accident. "" The aversion to the intense risk that could have earthquakes and nuclear fallout at the Japan is that affect their ability to take on the foreign investment, ", said Greg Gibbs, a strategist at Royal Bank of Scotland Group Plc Sydney. "These factors could make the yen a bit of force." The risk is still to a weakening of the US dollar. "Won, won Korea AussieSouth fell by 0.9% to 1,093.70 per dollar, set for the largest daily loss since February 11. The Korea Bank has kept rates unchanged interest today after two increases this year, opting to see how rising oil prices and the earthquake of the Japan affects growth. Australian dollar weakened to $ 1.0496 $1.0428 in New York yesterday.Yields on the treasures of 10 years has decreased three 3.55% basis points, according to Bloomberg Bond Trader. The United States sell notes to 3 years now $ 32 billion, $ 21 billion of the debt of 10 years tomorrow and $ 13 billion of 30-year bonds on 14 April, the cost of protecting the Asia-Pacific increased payment obligationswith the index of Asia iTraxx Markit of 50 borrowers outside the Japan investment-grade climbing 1.5 points base 105 basis points, according to Credit Agricole CIB. The benchmark risk moves to end above since April 1, the CMA Awards show in New York.

-With the help of Ben Sharples in Melbourne, Candice Zachariahs Sydney, Yusuke Miyazawa in Tokyo and Ron Harui, Wes Goodman and Weiyi Lim at Singapore. Publisher: Rocky Swift

To contact the reporters on this story: Shiyin Chen to Singapore to schen37@bloomberg.net; Akiko Ikeda in Tokyo at the iakiko@bloomberg.net.

To contact the editor responsible for this story: Rocky Swift to the rswift5@bloomberg.net


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