Asia-Pacific markets mixed as Europe, US see gains

| November 20, 2007
Asia-Pacific markets mixed as Europe, US see gains

Equities markets in the Asia-Pacific region were mixed on Tuesday. Gains came in China, where the Shanghai Composite added 0.45 percent to 5,293.7, as well as in Singapore and Hong Kong where the Straits Times index was up 0.78 percent to 3,438.27 and the Hang Seng was 1.13 percent higher to 27,771.21. In Taiwan, the Taiex index traded even at 8,680.86.

Decliners in the region included South Korea’s Kospi index, which fell 1.12 percent to 1,872.24. In Australia the Sydney Ordinaries and the S&P/ASX200 each dropped 1.68 percent, to 6,490.2 and 6,425.4 respectively, while the Sensex was down 1.8 percent to 19,280.8.

Tokyo’s markets were mixed, with major indices higher on sentiment that recent declines have been too much. The Nikkei 225 gained 1.12 percent to 15,211.52 while the Topix index added 0.87 percent to 1,469.27. However, the Mothers market of small and mid-caps dropped 0.49 percent to 819.08.

European equities markets bounced back from Monday’s declines. The FTSE Eurofirst 300 was up 1.16 percent to 1,479.71. Madrid’s IBEX gained 1.03 percent to 15,700 while the Paris CAC-40 was 1.36 percent higher to 5,506.58 and the Dax added 1.58 percent to 7,630.31. London’s markets also saw gains. The FTSE 100 was up 1.73 percent to 6,226.5 while the FTSE 250 added 0.92 percent to 10,499.9.

Just before the close of trade on Wall Street, the Dow Jones Industrial Average was 0.47 percent higher to 13,019.9 while the Nasdaq Composite added 0.07 percent to 2,595.17 and the S&P 500 gained 0.56 percent to 1,441.32.

Crude oil prices were higher while heating oil rose to a new record. Precious metals prices were up while base metals were mixed. Grains prices were higher.

A return to carry trades left the yen weaker, while the US dollar dropped to new lows versus both the euro and the Swiss franc.

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