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Wednesday, 06 May 2009 09:57:31 GMT
Written by David Song, Analyst, Geng Chen, CFDtrading.com
Full Article
Price actions in Asia/Pacific region were mixed on Wednesday as investors turned wary ahead of the results of the U.S. bank stress test. Australia’s benchmark index slipped lower during the session as basic materials pulled back from the recent high, while reports that Bank of America will need to raise $34B in capital following the initial results of the stress test weighed on the overall market however.
Asia Session Key Developments
· BHP Billiton cuts outlook for iron ore production
· Bank of American may need to raise nearly $34B following the initial results of the ‘stress test’
Asian Stock Markets Mixed Ahead of U.S. ‘Stress Test’ Results, BofA May Need to Raise $34B in Capital
Price actions in Asia/Pacific region were mixed on Wednesday as investors turned wary ahead of the results of the U.S. bank stress test. Australia’s benchmark index slipped lower during the session as basic materials pulled back from the recent high, while reports that Bank of America will need to raise $34B in capital following the initial results of the stress test weighed on the overall market however, the Hang Seng Index managed to pare losses at the open, with banking shares advancing 3.18%.
NKY 225 8977.37
The Nikkei stock will be closed until Thursday.
HSI 16834.57
The Hong Kong stock market rose for a fifth day as the benchmark index added 404.49 points, or 2.46% to end the session at 16834.57 after falling as much as 1% during the morning trade. HSBC Holdings Plc, Europe’s biggest bank, gained 4.1% after JP Morgan Chase & Co. upgraded the firms rating, while New World Development Co. jumped 7.4% after Goldman Sachs Group Inc. raised its share-price estimate.
ASX 200 3867.10
Australia’s ASX 200 slipped 23.30 points, or 0.60% to close at 3867.10 in Sydney, weighed down by falling commodity prices. BHP Billiton Ltd., the world largest mining company, lost 1.7% after copper retreat from its highest in two weeks, while the company stated that its iron ore production may fall short of its previous projection by a ‘few million tons’ due to accidents arising at its mines in Western Australia.
Notable Asian Session Event Risk / Economic Releases
CFDTrading provides news on the economic reports and political events that influence the CFD traders.
Written by David Song, Analyst, Geng Chen, CFDtrading.com
Full Article
Price actions in Asia/Pacific region were mixed on Wednesday as investors turned wary ahead of the results of the U.S. bank stress test. Australia’s benchmark index slipped lower during the session as basic materials pulled back from the recent high, while reports that Bank of America will need to raise $34B in capital following the initial results of the stress test weighed on the overall market however.
Asia Session Key Developments
· BHP Billiton cuts outlook for iron ore production
· Bank of American may need to raise nearly $34B following the initial results of the ‘stress test’
Asian Stock Markets Mixed Ahead of U.S. ‘Stress Test’ Results, BofA May Need to Raise $34B in Capital
Price actions in Asia/Pacific region were mixed on Wednesday as investors turned wary ahead of the results of the U.S. bank stress test. Australia’s benchmark index slipped lower during the session as basic materials pulled back from the recent high, while reports that Bank of America will need to raise $34B in capital following the initial results of the stress test weighed on the overall market however, the Hang Seng Index managed to pare losses at the open, with banking shares advancing 3.18%.
NKY 225 8977.37
The Nikkei stock will be closed until Thursday.
HSI 16834.57
The Hong Kong stock market rose for a fifth day as the benchmark index added 404.49 points, or 2.46% to end the session at 16834.57 after falling as much as 1% during the morning trade. HSBC Holdings Plc, Europe’s biggest bank, gained 4.1% after JP Morgan Chase & Co. upgraded the firms rating, while New World Development Co. jumped 7.4% after Goldman Sachs Group Inc. raised its share-price estimate.
ASX 200 3867.10
Australia’s ASX 200 slipped 23.30 points, or 0.60% to close at 3867.10 in Sydney, weighed down by falling commodity prices. BHP Billiton Ltd., the world largest mining company, lost 1.7% after copper retreat from its highest in two weeks, while the company stated that its iron ore production may fall short of its previous projection by a ‘few million tons’ due to accidents arising at its mines in Western Australia.
Notable Asian Session Event Risk / Economic Releases
CFDTrading provides news on the economic reports and political events that influence the CFD traders.