Bloomberg, (16/4) -- Asian stocks
fell, dragging the regional benchmark equities gauge lower for a second
day, led by raw-material producers amid concern slower growth in China
will curb the global economic recovery.
The MSCI Asia Pacific Index lost 0.8 percent to 135.98 as of 10:33 a.m. in Tokyo, with more than four shares falling for each that rose. The gauge retreated yesterday from the highest level in 20 months after reports showed Chinese growth and industrial production expanded less than economists estimated and gold plunged the most since 1980.
“Brace yourselves today,” said Evan Lucas, a market strategist at IG Markets Ltd., a provider of trading services in Melbourne. “The sell-off will be sharp and indiscriminate, loss will be across the board, not even the defensives will escape the flight to safety today.”
Japan’s Nikkei 225 Stock Average slid 1.1 percent and South Korea’s Kospi index lost 0.4 percent. Taiwan’s Taiex Index declined 0.3 percent, while Australia’s S&P/ASX 200 Index fell 0.7 percent. Hong Kong’s Hang Seng Index lost 1 percent, while China’s Shanghai Composite Index dropped 0.7 percent. New Zealand’s NZX 50 Index retreated 0.9 percent.
Shares on the MSCI Asia Pacific Index yesterday traded at 13.9 times average estimated earnings compared with 14 for the Standard & Poor’s 500 Index and 12.5 times for the Stoxx Europe 600 Index, according to data compiled by Bloomberg.
The MSCI Asia Pacific Index lost 0.8 percent to 135.98 as of 10:33 a.m. in Tokyo, with more than four shares falling for each that rose. The gauge retreated yesterday from the highest level in 20 months after reports showed Chinese growth and industrial production expanded less than economists estimated and gold plunged the most since 1980.
“Brace yourselves today,” said Evan Lucas, a market strategist at IG Markets Ltd., a provider of trading services in Melbourne. “The sell-off will be sharp and indiscriminate, loss will be across the board, not even the defensives will escape the flight to safety today.”
Japan’s Nikkei 225 Stock Average slid 1.1 percent and South Korea’s Kospi index lost 0.4 percent. Taiwan’s Taiex Index declined 0.3 percent, while Australia’s S&P/ASX 200 Index fell 0.7 percent. Hong Kong’s Hang Seng Index lost 1 percent, while China’s Shanghai Composite Index dropped 0.7 percent. New Zealand’s NZX 50 Index retreated 0.9 percent.
Shares on the MSCI Asia Pacific Index yesterday traded at 13.9 times average estimated earnings compared with 14 for the Standard & Poor’s 500 Index and 12.5 times for the Stoxx Europe 600 Index, according to data compiled by Bloomberg.
Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 9:37 AM
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