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Bloomberg (07/10) --
Asian stocks fell, with the regional benchmark index extending last
week’s drop, as U.S. lawmakers wrangle over the debt limit and partial
government shutdown.
Blumont
Group Ltd. and Asiasons Capital Ltd. shares each fell by records on
resuming trading after the Singapore Exchange Ltd. imposed restrictions
on investors in their stocks. Sun Hung Kai Properties Ltd. declined 2.4
percent on a report the developer offered to sell some of the remaining
units at a Hong Kong residential project at a discount. Tokyo Electric
Power Co., the owner of the crippled Fukushima Dai-Ichi nuclear power
plant, sank 7.4 percent, leading a decline among utilities.
The
MSCI Asia Pacific Index fell 0.9 percent to 137.91 as of 1:53 p.m. in
Tokyo, with all but one of its 10 industry groups dropping. The gauge
lost 1.2 percent last week, the first weekly drop in more than a month,
as the partial U.S. government shutdown stoked concern lawmakers won’t
be able to agree on raising the nation’s $16.7 trillion borrowing limit
later this month.
U.S.
Speaker John Boehner said yesterday the House can’t pass an increase to
the debt ceiling without packaging it with other provisions -- a
nonstarter for President Barack Obama.
Japan’s
Topix index fell 1.2 percent, extending the longest losing streak since
July 2012. Financial markets in China are closed for a holiday today.
South Korea’s Kospi index lost 0.1 percent. New Zealand’s NZX 50 Index
slid 0.1 percent. In Australia, where many businesses are closed for
Labour Day, the S&P/ASX 200 Index fell 1 percent on trading volumes
about half the 30-day average for this time of day.
Hong
Kong’s Hang Seng Index slipped 0.7 percent. Singapore’s Straits Times
Index was little changed and Taiwan’s Taiex index lost 0.3 percent.
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Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 12:57 PM
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