Thursday, April 1, 2010

US and Asia Regional Market Summary

Asia Regional Market Summary

Singapore shares closed lower on Wednesday with the blue-chip Straits Times Index down 45.93 points to 2,887.46. Volume was 1.65 billion shares worth $1.85 billion. Losers led gainers 377 to 142.

Hong Kong stocks closed 0.63 per cent lower on Wednesday on profit-taking, snapping three consecutive gains. The benchmark Hang Seng Index gave up 135.44 points to 21,239.35. Turnover was HK$67.06 billion (US$8.35 billion).

Malaysia stocks ended slightly higher on Wednesday following profit-taking in key heavyweights like Maybank and Sime Darby. The benchmark FTSE-Bursa Malaysia Kuala Lumpur Composite Index finished at 1,320.57, up a nett 1.22 points or 0.09 per cent. Turnover was at 961.369 million shares valued at RM1.540 billion (US$470.925 million). Losers led gainers by 441 to 275.

Japan ' s Nikkei average hit an 18-month intraday high before paring gains on Wednesday, the final day of the financial year, but further gains were expected in the new quarter as a global economic recovery picks up strength. The benchmark Nikkei inched down 0.1 per cent or 7.20 points to 11,089.94 after rising as far as 11,147.62, its highest intraday level in about 18 months. The Nikkei climbed 5.2 per cent in the January-March quarter. The broader Topix dipped 0.1 per cent to 978.81.

Source: BT Online

US Market Summary

Stocks fell on Wednesday as a report showing a surprising drop in private-sector employment stoked concerns about the health of the laboUr market two days before the government's key jobs data.

Wall Street took a one-two punch from ADP Employer Services data showing US private-sector employers unexpectedly cut jobs in March and a separate report that showed US Midwest business activity expanded less than expected last month.

The Dow Jones industrial average dropped 50.79 points, or 0.47 per cent, to close at 10,856.63. The Standard & Poor's 500 Index shed 3.84 points, or 0.33 per cent, to 1,169.43. The Nasdaq Composite Index fell 12.73 points, or 0.53 per cent, to end at 2,397.96.

Source: Reuters

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