Asian-Pacific Shares Decline; Markets Await U.S. Jobs Data
May 19, 2011
In Tokyo, stocks slid as investors reacted to the possibility of a general election in October. Thai stock prices plunged below the 1000-point level for the first time in 35 months in skittish trading, but recovered somewhat late in the session on talk of a new support fund coming into the market. Meanwhile, the Australian bourse plunged because of weak prices in base metals and U.S. equities. Shares in the Philippines and Hong Kong declined as investors were sidelined ahead of the release of U.S. employment data Friday. Taiwan stocks slipped as recent foreign institutional selling in the technology sector sidelined investors. Stocks in South Korea were mixed because of weakness in blue chips. Weaker blue chips led the Singaporean bourse's plunge. The Malaysian market was mixed as second-tier issues rose but blue chips fell. Indonesian shares gained as local investors bargain-hunted and foreigners selectively bought blue chips. At the end of trading in Asia Friday, the Dow Jones China 88 Index shed 1.06 to 97.97, after gaining 0.94 Thursday. The Dow Jones Shanghai Index fell 1.42 to 103.48, after rising 2.03 the previous day. The Dow Jones Shenzhen Index lost 0.77 to 108.65, after losing 0.21 the previous day. In dollar terms, the Asian-Pacific sector of the Dow Jones World Stock Index lost 0.70 to 113.74 at 6 a.m. EDT Friday, after gaining 0.58 Thursday. The world as a whole fell 0.32 to 136.59, after dropping 0.40 the previous day. Air-freight and industrial-technology shares led Dow Jones Global Industry Groups, while fishing and container-and-packaging issues were among the laggers. Asian Stock Market Indexes Market Australia
