Asia Market Reports

Nikkei 225 Hang Seng Bse Sensex S&P/ASX 20

Asian Markets End Lower Following China's Monetary Tightening Asian markets ended Monday's trading session in negative territory with modest losses on concerns about the sustainability of global economic recovery after China announced further monetary tightening measures to cool off its rapid economic growth. The People's Bank of Chinaannounced that it would increase the reserve ratio requirement of banks by 50 basis points with effect from Thursday next, to cool off the growth rate amid rising inflation metrics in the economy. While the markets in Australia and China managed to end in the green with minor gains, all the other markets in the region ended in the negative territory. In Australia, the benchmark S&P/ASX200 Index advanced 9.80 points, or 0.20 percent, to close at 4,861.90 points, while the broader All Ordinaries Index ended at 4,945.40 points, representing a minor gain of 6.10 points, or 0.12 percent from previous close. Light sweet crude oil futures for May delivery was trading at $108.85 in electronic trading, down $0.81 per barrel from previous close at $109.66 a barrel in New York on Friday. Banking stocks ended in the green with moderate gains. ANZ Banking Group advanced 0.51 percent, Commonwealth Bank of Australia added 0.59 percent, National Australia Bank gained 0.38 percent, and Westpac Banking Corp. was higher by 0.60 percent. Investment banking company Macquarie Group ended in the positive territory with a modest gain of 0.46 percent. Mixed trading was witnessed among resource related stocks. BHP Billiton slipped 0.08 percent,Fortescue Minerals declined 0.62 percent, Iluka Resources edged down 0.22 percent, Mincor Resources fell 1.52 percent, Murchison Metals plunged 2.75 percent, Minara Resources was down 1.22 percent, Oz Minerals lost 1.97 percent, and Rio Tinto was lower by 0.18 percent. However, Gindalbie Metals bucked the trend and added 0.48 percent, and Macarthur Coaladvanced 0.34 percent. Mixed trading was also witnessed among energy related stocks. While Woodside Petroleumended in the green with a gain of 0.56 percent and ROC Oil Ltd surged up 4.55 percent, Santos Ltddeclined 0.70 percent, Origin Energy slipped 1.97 percent, and Oil Search Ltd edged down 0.41 percent. Gold related stocks also ended mixed. While Newcrest Mining ended in the negative territory with a loss of 0.44 percent, Kingsgate Resources ended in the positive territory with a gain of 0.67 percent. Among telecom related stocks, Telstra gained 1.07 percent, and Telecom Corporation of New Zealand surged up 4.29 percent. In Japan, the benchmark Nikkei 225 index slipped 34.87 points, or 0.36 percent, to close at 9,556.65, while the broader Topix Index of first section issues declined 4.95 points, or 0.59 percent, to 836.34. Insurance related stocks ended in the negative territory. The Dai-Ichi Life Insurance Co. declined 2.65 percent, T&D Holdings plunged 3.94 percent, Tokio Marine Holdings slipped 0.88 percent,NKSJ Holdings fell 2.14 percent, and MS&AD Insurance Group Holdings shed 0.43 percent. Stocks of major banks also ended in the negative territory. Sumitomo Mitsui Financial declined 2.03 percent, Mitsubishi UFJ Financial fell 2.59 percent, Mizuho Financial slipped 1.55 percent, and Resona Holdings was down 1.05 percent. Among gas related companies, Osaka Gas Co. slipped 0.32 percent, and Tokyo Gas Co. was down 0.82 percent from previous close. Stocks of Electric machinery also ended weaker. TDK Corp. plunged 3.69 percent, Kyocera Corp. declined 0.86 percent, Fanuc Ltd edged down 0.23 percent, and Mitsumi Electric Co. Ltdshed 1.94 percent. Mixed trading was witnessed among the real estate stocks. Among the gainers, Mitsui Fudosan Co. added 0.59 percent, Mitsubishi Estate Co. advanced 0.58 percent, Tokyu Land Corp. was higher by 1.20 percent and Sumitomo Realty & Development edged higher by 0.13 percent. However, Heiwa Real Estate bucked the trend and ended weaker by 0.56 percent,and Tokyo Tatemono Co. was lower by 0.35 percent. In China, the benchmark Shanghai Composite Index ended in the green with a gain of 6.46 points, or 0.21 percent, at 3,055.98.. In Hong Kong, the benchmark HangSeng Index ended at 23,830.31, registering a loss of 177.76 points, or 0.74 percent from previous close. In Indonesia, the benchmark Jakarta Composite Index ended in negative territory with a minor loss of 3.44 points, or 0.09 percent, at 3,727.07. In Singapore, the Strait Times Index ended in the negative territory with a loss of 8.92 points, or 0.28 percent, at 3,144.38. In South Korea, the benchmark KOSPI Index ended flat at 2,137.72, registering a minor loss of 2.78 points, or 0.13 percent from previous close. In Taiwan, the benchmark Taiwan Weighted Index ended at 8,714.48, registering a loss of 3.64 points, or 0.04 percent, from previous close. In India, the benchmark BSE index is presently trading in the negative territory with a loss of 299.77 points, at 19,087.33, while the broader Nifty index is losing 92.75 points, and trading at 5,731.80, fifteen minutes before the scheduled close of trading.