Asia markets mostly higher

| August 3, 2007 | 0 Comments
Asia markets mostly higher

European markets reversed course and declined again on Friday. The FTSE Eurofirst 300 was 1.34 percent lower to 1,516.42. The IBEX was 0.98 percent lower to 14,534.3 in Madrid, while the Dax fell 1.31 percent to 7,435.67 and the Paris CAC-40 was down 1.48 percent to 5,597.89. In London, the FTSE 100 was 1.21 percent lower to 6,224.3 and the FTSE 250 fell 0.42 percent to 11,185.8.

The New York equities markets were lower in early afternoon trade after the US Labor Department released new data showing that fewer jobs were created in July than had bee anticipated and that unemployment had risen slightly. The Dow Jones Industrial Average was 0.6 percent lower to 13,380.99, while the Nasdaq Composite fell 0.8 percent to 2,555.59 and the S&P 500 had dropped 0.9 percent to 1,458.85.

Asia-Pacific equities markets were mixed but mostly higher on the session. In Australia, the Sydney Ordinaries added 0.09 percent to 6,055.9, while the S&P/ASX200 gained 0.15 percent to 6,021. In Hong Kong, the Hang Seng index was 0.42 percent higher to 22,538.44. The Sensex was up 1.02 percent to 15,138.4 in India, while in Taiwan the Taiex index gained 1.2 percent to 9,057.82. South Korea’s Kospi index jumped 1.28 percent to 1,876.8, and in China the Shanghai composite added 3.47 percent to 4,560.77. In Singapore, however, the Straits Times index dropped 0.08 percent to 3,436.04.

Tokyo’s Nikkei 225 was also slightly lower, falling 0.03 percent to 16,979.86. On the other hand, the Topix index managed a gain of 0.19 percent to 1,672.54 and the Mothers market was 0.53 percent higher to 834.57.

Crude oil prices dropped to end the week but analysts and traders have their eye on weather forecasts as the height of the hurricane season approaches. Metals prices were mixed on the day.

The US dollar was weaker on Friday, but still managed a slight gain over the yen for the week.

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