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Sunday 16th of March 2008
June 5, 2007

Most Asia-Pacific markets see advances


by Elaine Frei
Most Asia-Pacific markets see advances

Asian and Pacific markets were mostly higher on Tuesday. The main exception was in Australia, where the Sydney Ordinaries dropped 0.31 percent to 6,399.9. In China, the Shanghai Composite added 2.63 percent to 3,767.1, while the Shenzhen Composite added 2.5 percent to 1,066.05 to begin to reclaim Monday’s losses. Elsewhere in the region, the Sensex added 0.27 percent to 14,535 in India, while the Hang Seng index was up 0.54 percent to 20,842.15 in Hong Kong and the Singapore Straits Times Index gained 0.98 percent to 3,572.9. In Tokyo, the Nikkei 225 gained 0.5 percent to 18,053.81, while the Topix index added 0.2 percent to 1,776.56.

In Europe, the markets were lower again. The FTSE Eurofirst 300 dropped 0.62 percent to 1,612.13. In Madrid, the IBEX fell 0.64 percent to 15,314.9, while the Dax was 0.71 percent lower to 7,919.83 in Frankfurt and the Paris CAC-40 dropped 0.77 percent to 6,078.54. In London, the FTSE 100 fell 0.47 percent to 6,632.8, while the FTSE 250 was 0.57 percent lower to 12,066.2.

Wall Street was lower in early afternoon trade. By early afternoon, the Dow Jones Industrial Average had dropped 0.65 percent to 13,587.9, while the Nasdaq Composite was 0.49 percent lower to 2,605.59 and the S&P 500 had fallen 0.58 percent to 1,530.22.

Crude oil prices were mixed on the session, while gold saw gains but base metals declined.

The yen and the US dollar lost ground on selling for carry trades in the case of the yen, and on comments from the US Federal Reserve chairman in the case of the greenback. US Treasury bond prices dropped and yields rose on growth in the US service sector.


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