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Thursday 20th of November 2008
August 21, 2007

Asia-Pacific, European markets mixed


by Elaine Frei
Asia-Pacific, European markets mixed

Equities markets in the Asia-Pacific region were mixed on Tuesday. Taiwan’s Taiex index dropped 0.43 percent to 8,479.08, while the Jakarta Composite fell 2.38 percent to 1,993.01, and the Straits Times index was down 2.82 percent to 3,228.66 in Singapore. In India, the Sensex fell 3.04 percent to 13,989.11. Gainers included South Korea’s Kospi index, which added 0.28 percent to 1,736.18. Meanwhile, the Hang Seng gained 0.62 percent to 21,729.35 in Hong Kong.

In Australia, the Sydney Ordinaries were up 0.88 percent to 5,978.6 and the S&P/ASX200 was 0.96 percent higher to 4,989.4 after the Reserve Bank of Australia injected another A$3.45 billion in to the system. The Shanghai Composite added 1.03 percent to 4,955.21. The Philippine Stock Exchange index jumped 9.82 percent to 1,993.01 for its biggest gain since 22 January 2001. Tokyo’s markets were higher on the session as the Nikkei 225 added 1.07 percent to 15,901.34 and the Topix index was up 1.73 percent to 1,549.88 after the Bank of Japan put another ¥800 billion into the system. The Mothers index gained 1.23 percent to 703.72.

European markets were mixed as well. The FTSE Eurofirst 300 was 0.15 percent lower to 1,479.61. While the Dax and the CAC-40 were higher, by 0.23 percent to 7,424.75 and by 0.36 percent to 5,418.78 respectively, Madrid’s IBEX fell 0.21 percent to 14,239.8. London markets were also mixed, with the FTSE 100 up 0.12 percent to 6.086.1 but the FTSE 250 down 0.6 percent to 10,639.3.

Wall Street was higher in early afternoon trade. The Dow Jones Industrial Average was 0.04 percent higher to 13,126.39, while the Nasdaq Composite had added 0.48 percent to 2,520.55 and the S&P 500 was up 0.25 percent to 1,449.22.

Crude oil prices were lower as Hurricane Dean weakened, while metals prices were mixed but mostly lower. Among agricultural commodities corn, soybeans, and most livestock and meat were higher.

Sterling and the US dollar weakened in currencies markets, while the yen strengthened.

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