World shares down amid Japan confidence drop
Thursday, 16 December 2010
BANGKOK, Dec 15 (AP): World markets were mostly lower Wednesday amid deteriorating sentiment among Japanese companies that underlined the slowdown in the world economic recovery.
In opening European trade, France's CAC 40 was off 0.7 per cent at 3,877.51 and Britain's FTSE 100 fell 0.5 per cent to 5,864.30. Germany's DAX shed 0.7 per cent to 6,979.03.
Wall Street was set to fall with Dow futures down 44 points, or 0.4 per cent, at 11,377. Broader S&P futures declined 5.6, or 0.5 per cent, to 1,231.20.
Earlier in Asia, Japan's Nikkei 225 stock average fell 0.1 per cent to 10,309.78.
The Bank of Japan's quarterly "tankan" survey of business confidences howed that the key index for large manufacturers fell for the first time in seven quarters. Companies surveyed also expect sentiment to keep dropping in the months ahead amid worries about a persistently strong yen and slowing global demand.
Markets across the region were mostly down, with benchmarks stuck in narrow ranges.
Hong Kong's Hang Seng index lost 2 per cent to 23,975.35 and the Shanghai Composite index fell 0.5 per cent to 2,911.41.
Australia's S&P/ASX 200 added less than 0.1 per cent to 4,767.80 and South Korea's Kospi reversed losses to close up 0.4 per cent at 2,017.48.
Elsewhere, benchmarks in India, Singapore and Indonesia were lower while Taiwan and New Zealand gained.
In New York Tuesday, the Dow Jones industrial average rose 47.98, or 0.4 per cent, to 11,476.54. after retail sales rose for the fifth straight month and a survey showed that large companies intend to hire more workers.
Retail sales jumped 0.8 per cent in November, the Commerce Department said Tuesday. A survey from the Business Roundtable, an association of CEOs of big US companies, showed that 45 per cent of executives say they expect to add workers over the next six months.
In opening European trade, France's CAC 40 was off 0.7 per cent at 3,877.51 and Britain's FTSE 100 fell 0.5 per cent to 5,864.30. Germany's DAX shed 0.7 per cent to 6,979.03.
Wall Street was set to fall with Dow futures down 44 points, or 0.4 per cent, at 11,377. Broader S&P futures declined 5.6, or 0.5 per cent, to 1,231.20.
Earlier in Asia, Japan's Nikkei 225 stock average fell 0.1 per cent to 10,309.78.
The Bank of Japan's quarterly "tankan" survey of business confidences howed that the key index for large manufacturers fell for the first time in seven quarters. Companies surveyed also expect sentiment to keep dropping in the months ahead amid worries about a persistently strong yen and slowing global demand.
Markets across the region were mostly down, with benchmarks stuck in narrow ranges.
Hong Kong's Hang Seng index lost 2 per cent to 23,975.35 and the Shanghai Composite index fell 0.5 per cent to 2,911.41.
Australia's S&P/ASX 200 added less than 0.1 per cent to 4,767.80 and South Korea's Kospi reversed losses to close up 0.4 per cent at 2,017.48.
Elsewhere, benchmarks in India, Singapore and Indonesia were lower while Taiwan and New Zealand gained.
In New York Tuesday, the Dow Jones industrial average rose 47.98, or 0.4 per cent, to 11,476.54. after retail sales rose for the fifth straight month and a survey showed that large companies intend to hire more workers.
Retail sales jumped 0.8 per cent in November, the Commerce Department said Tuesday. A survey from the Business Roundtable, an association of CEOs of big US companies, showed that 45 per cent of executives say they expect to add workers over the next six months.