Economy

xchrom

(108,903 posts)

13. Asian Stocks Fall on Concern Europe Solution Distant, Intel Forecast Cut

Tue Dec 13, 2011, 09:16 AM

Dec 2011

http://www.bloomberg.com/news/2011-12-13/asian-stocks-fall-on-concern-europe-solution-distant-intel-sales-forecast.html

Asian stocks declined, with the regional gauge heading for its lowest close in two weeks, after Fitch Ratings joined Moody’s Investors Service in warning that Europe faces lower credit ratings.

Mitsubishi UFJ Financial Group Inc. (8306), Japan’s largest lender by market value, fell 2.9 percent in Tokyo as the cost of insuring European debt rose toward a record. Advantest Corp. (6857) and other chip-related shares slid after bellwether Intel Corp. cut its sales forecast. BHP Billiton Ltd. (BHP), the world’s biggest mining company and Australia’s top oil producer, lost 1.9 percent after commodity prices fell.

“Asset prices, consumer sentiment and business conditions are all very dependent at the moment on a positive outcome from the euro situation,” said Angus Gluskie, who oversees about $300 million at White Funds Management in Sydney. “The euro nations are purely assuming an austerity agenda and they’re failing to consider the equally important aspect, which is to stimulate and encourage economic growth,”

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STOCK MARKET WATCH, Tuesday, December 13, 2011 [View all] Pale Blue Dot Dec 2011 OP

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So glad to provide amusement. Demeter Dec 2011 #25

oh that tansy... xchrom Dec 2011 #28

Watch what you say around here. Tansy_Gold Dec 2011 #34

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