Optimism is hard to make a comeback in the minds of Asian investors. On Tuesday too, they are unsure about what to do, juggling between red, green and balance since the market opening. The closing down of Wall Street Monday is only exacerbating the fears of operators in Asia to the cause of recession. Caution dominates so before a new round of macroeconomic indicators that will allow this week to get a clearer picture. On Tuesday, the U.S. will unveil the existing home sales for the month of July, while Europe will publish new orders in industry in June
In Japan, the Nikkei suffered the consequences of this pessimism. The key index of Japan, which had hit its highest level last year at the close, opened down 0.98%. He then widened its losses to fall below 9000 points at closing. A first since May 18, 2009.The index drops 1.33% to 8995.14 points while the broader TOPIX, yielded 0.86% to 817.73 points.
Markets are very disappointed by Monday's meeting between Prime Minister Naoto Kan and the President of the country's Central Bank Masaaki Shirakawa. They have not made any concrete announcements to fight against deflation and particularly to stem the rising yen leaden document. This morning, the dollar was hovering around 85 yen and the euro currency to 107.50 yen, just around, even falling in the morning at 107.21 yen, its lowest level in nearly nine years. This situation continues to penalize export values. Sony Corp., Canon and Tokyo Electron yield respectively 3.72%, 0.85% and 3.76% at closing.
The region follows the movement
In China, the doubts are even greater.At the Stock Exchange of Hong Kong, the Hang Seng is at equilibrium (-0.02% to 20,824 points) while in Shanghai, the Shanghai Composite is 0.94% to 2664 points.
The Korea Stock Exchange was steady at 1275 points. In Australia, the S & P lost 0.93%, still affected by the decline of BHP Billiton who drops 1.2%. Scholarships India and Pakistan were down 0.18% and 0.14%.
