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Tuesday 07th of October 2008
November 13, 2007

Asia-Pacific, European equities mixed


by Elaine Frei
Asia-Pacific, European equities mixed

Equities markets in the Asia-Pacific region were mixed Tuesday. Among gainers, the Kospi index was 0.49 percent higher to 1,932.89 in South Korea while Hong Kong’s Hang Seng index was up 0.5 percent to 27,803.35. The Taiex gained 0.65 percent to 8,727.21. In Australia, the Sydney Ordinaries added 0.73 percent to 6,570.9 and the S&P/ASX200 was up 0.93 percent to 6,515.2. India’s Sensex jumped 1.59 percent to 19,035.48.

Losers on the day included the Shanghai Composite, which was down 0.57 percent to 5,158.12. The Straits Times index was 1.02 percent lower to 3,475.47 in Singapore. Tokyo’s main indices fell for the eighth session in a row, with the Nikkei 225 down 0.46 percent to 15,126 and the Topix index 0.11 percent lower to 1,454.73. The Mothers market, however, gained 1.55 percent to 830.02.

European markets were mixed again Tuesday, with the Dax again being the major decliner with a drop of 0.38percent to 7,777.56. Otherwise, indices saw gains. The FTSE Eurofirst 300 added 0.27 percent to 1,516.42, while the Paris CAC-40 gained 0.06 percent to 5,538.91 and Madrid’s IBEX was up 0.25 percent to 15,814.8. London’s equities markets saw gains on the session as the FTSE 100 added 0.39 percent to 6,362.4 and the FTSE 250 gained 0.24 percent to 10,920.2.

Wall Street saw gains in midday trade. The Dow Jones Industrial Average was 1.29 percent higher to 13,154.84 while the Nasdaq Composite gained 1.89 percent to 2,632.88 and the S&P 500 added 1.27 percent to 1,457.44. Retailers were up amid better than expected results while some banks and mortgage lenders also did well.

Crude oil prices were lower in afternoon trade in New York, while precious metals prices and grains were mixed.

The yen declined as the Bank of Japan held interest rates steady, while both the yen and the Swiss franc were hurt by the resurgent popularity of carry trades. Meanwhile, sterling strengthened.

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