Sensex declines amid Asia-Pacific gains

Most equities markets in the Asia-Pacific region were up Thursday. The Shanghai Composite added 1.05 percent to 5,032.49 to rise above the 5,000 level for the first time, while the Straits Times index gained 1.49 percent to 3,370.91 in Singapore. In South Korea, the Kospi index was up 2.29 percent to 1,799.72. The Sydney Ordinaries added 2.54 percent to 6,149.7 in Australia, while the S&P/ASX200 was 2.58 percent higher to 6,159.7. In Hong Kong, meanwhile, the Hang Seng was up 2.77 percent to 22,966.97, while Taiwan’s Taiex was 2.82 percent higher to 8,732.84. One of the few decliners on the day came in South Asia, where India’s Sensex fell 0.59 percent to 14,163.98.

In Tokyo, the markets were higher after the Bank of Japan voted 8 to 1 to hold interest rates at 0.5 percent, as expected. The Nikkei 225 gained 2.6 percent to 16,316.32, while the Taiex added 3 percent to 1,591.81 and the Mothers market jumped 5.18 percent to 740.02.

In Europe, most equities markets were higher, but in Madrid the IBEX dropped 0.46 percent to 14,292.5. The FTSE Eurofirst 300 added 0.38 percent to 1,511.08, while the CAC-40 was up a bare 0.09 percent to 5,523.33 and the Dax gained 0.15 percent to 7,511.96 in Frankfurt. London’s markets were higher, although the FTSE 100 only managed a gain of 0.01 percent to 6,196.9.

After an initial gain on enthusiasm about Bank of America’s (NYSE: BAC; TYO: 8648) purchase of $2 billon in preferred stock in mortgage lender Countrywide Financial (NYSE: CFC), Wall Street was lower in midday trade. The Dow Jones Industrial Average was down 0.28 percent to 13,199.47, while the Nasdaq Composite had dropped 0.71 percent to 2,534.56 and the S&P 500 was 0.44 percent lower to 1,457.61.

Crude oil prices were higher. Base metals prices were higher, while precious metals were mixed. In agricultural commodities, meanwhile, grains were higher.

The yen weakened in midday trade in London in reaction to the Bank of Japan decision to keep interest rates on hold. In the United States, meanwhile, prices for Treasury bonds were higher after an official for a mortgage lender predicted a recession.

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