Asian-Pacific Markets Decline; Foreign Selling Weakens Nikkei
May 12, 2011
Tokyo stocks plunged to their lowest level since mid-March amid foreign selling and arbitrage unwinding. Shares in Hong Kong declined as investors took profits ahead of the weekend. South Korean shares rallied on rumors the government is discussing raising the foreign stock-ownership limit. Wall Street's losses overnight weakened the Australian bourse, while Malaysian shares gained as investors returned to the market. Taiwan stocks dropped amid profit-taking, while Philippine shares were mixed. Shares in Singapore, Indonesia and Thailand slid amid thin trading. As of 5:30 a.m. EDT Friday, the Dow Jones China 88 Index gained 3.49 to 98.95, after rising 2.25 Thursday. The Dow Jones Shanghai Index added 3.18 to 104.26, after gaining 1.74 the previous day. The Dow Jones Shenzhen Index added 5.17 to 109.88, after rising 3.58 the previous day. In dollar terms, the Asian-Pacific sector of the Dow Jones World Stock Index fell 1.10 to 114.52 Friday, after dropping 0.67 Thursday. The world as a whole lost 0.54 to 138.27, after falling 1.15 the previous day. Plantation and air-freight shares led Dow Jones Industry Groups, while overseas-trading and consolidated-electronic issues were among the laggers. Asian Stock Market Indexes Market Australia
