Asia-Pacific markets remain mixed as Europe, US see declines

| December 4, 2007 | 0 Comments
Asia-Pacific markets remain mixed as Europe, US see declines

Asia-Pacific equities markets were mixed again on Tuesday. Among the gainers, the Straits Times index was up 0.18 percent to 3,527.87 in Singapore while Hong Kong’s Hang Seng index was 0.77 percent higher to 28,879.59. The Taiex added 0.79 percent to 8,651.28 in Taiwan while in South Korea the Kospi index gained 0.81 percent to 1,917.83. The Shanghai Composite was up 0.97 percent to 4,915.89.

On the losing side, Australia’s S&P/ASX200 fell 0.04 percent to 6,530.8 and the Sydney Ordinaries were down 0.13 percent to 6,588.8 while in India the Sensex was 0.38 percent lower to 19,529.5. Tokyo’s markets were lower as well. The Nikkei 225 dropped 0.95 percent to 15,480.19 while the Topix index was down 1.09 percent to 1,515.5 and the Mothers market fell 0.98 percent to 911.89.

Equities markets declined in Europe. The FTSE Eurofirst 300 dropped 1.32 percent to 1,500.47. In Madrid, the IBEX was down 0.17 percent to 15,708.2 while the Dax was 0.36 percent lower to 7,808.94 and the Paris CAC-40 fell 1.46 percent to 5,547.21. In London the FTSE 100 was 1.12 percent lower to 6,315.2 while the FTSE 250 dropped 2.76 percent to 10,268.9.

Wall Street was lower in mid-afternoon trade on Tuesday ahead of next week‘s decision on interest rates by the Federal Reserve. The Dow Jones Industrial average was 0.13 percent lower to 13,297.66 while the Nasdaq Composite was down 0.26 percent to 2,630.22 and the S&P 500 had dropped 0.33 percent to 1,467.62.

The price of crude oil fell, while precious metals were higher and copper declined. Grains prices were up at last report.

Risk aversion helped the yen and the Swiss franc but sterling declined as fears of an interest rate cut resurfaced.

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