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Sunday 21st of September 2008
July 27, 2007

IBEX manages gain amid declines


by Elaine Frei
IBEX manages gain amid declines

Asia-Pacific equities markets were lower on Friday. Taiwan’s Taiex index dropped 4.22 percent to 9,162.28. South Korea’s Kospi index fell 4.09 percent to 1,883.22. The Sensex declined 3.43 percent to 15,234.57. In Australia, the S&P/ASX200 fell 2.81 percent to 6,082.9, while the Sydney Ordinaries dropped 2.76 percent to 6,127.3. In Hong Kong, the Hang Seng index also fell 2.76 percent to close at 22,570.41, while the Straits Times index was 2.42 percent lower to 3,592.68 in Singapore. The Shanghai Composite, fell 0.03 percent to 4,345.36. In Tokyo the Nikkei 225 closed 2.4 percent lower to 17,283.81, while the Topix index ended the session at 1,699.71, a drop of 2.2 percent. The Mother’s market of small and mid-caps was down 1.51 percent to 839.27.

Most European markets remained lower as well. The main exception was the IBEX, which was 0.23 percent higher to 14,574 in Madrid. The FTSE Eurofirst 300 dropped 0.54 percent to 1,519.59. In Paris the CAC-40 was 0.55 percent lower to 5,643.96, while the Dax fell 0.76 percent to 7,451.68 in Frankfurt. London’s markets were also lower on the day, but nearly as steeply as they were on Thursday. The FTSE 100 fell 0.58 percent to 6,215.2, while the FTSE 250 was down 0.44 percent to 10.984.5.

In New York, the Dow Jones Industrial Average was down again, by more than 100 points in midday trade, falling 0.96 percent to 13,344.56, while the Nasdaq Composite had dropped 0.89 percent to 2,576.32 and the S&P 500 was 1.12 percent lower to 1,466.1.

Crude oil prices rose, while precious metals declined and base metals prices were mixed.

The US dollar and the Japanese yen both saw gains during the week, with the yen gaining on the greenback. Other Asian currencies, however, declined in relation to the US currency on Friday.

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