Shanghai Composite has fallen off, Dow Jones Industrial Average expects for a new correction today

Shanghai Composite falling will affect the bidding for Dow Jones Industrial

In brief: Dow Jones Industrial Average may drop significantly after the fall of the Chinese stock market today.

Dow Jones Industrial Average is in direct proportion to the fall of the Chinese stock market. Dow Jones Industrial is located at the level of 10,434.17, and the correction for the Dow index is inevitable. At the same time, the bulls can play against the good vutrenney statistics. On Friday, June 18, the Asian indices have shown mixed dynamics. It was quite expected that after a long rally stock markets start to consolidate at current levels.

Conflicting statistics and doubts about the state budgets of many countries have good reason for a small rollback. Nevertheless, capital inflows into South Korea, China and India continues and is at maximum with the beginning of 2009 is obvious that investors are looking for the replacement of European assets. Perhaps the impetus for growth will forthcoming in the next week’s meeting of G20. The initiative of the European Union to stress tests of European banks also commendable, and if the results of stress tests would be acceptable, there would be every reason to continue the rally in Asia. Most of all rolled Chinese index, Shanghai Composite fell almost 2%. Indian and Japanese markets were closed moderately lower. Hong Kong and Australian indexes closed at an average of 0.5% above yesterday’s level. South Korean won continues to strengthen against the background of strong demand for the assets of the country. Prices for futures for Brent crude and copper fell a second day and traded at around $ 76 per barrel and $ 290 per pound, respectively. Japanese air conditioner manufacturer Daikin Industries rose 2.1% after the increase in recommendations for action to “better market” from “neutral” analysts Credit Swiss Group. By manufacturer of auto parts and equipment was also raised Exedy recommendation analyst at Morgan Stanley to “better market and the shares shot up 4.6%.

On the Chinese stock markets looked worse than the market shares of technological, pharmaceutical and consumer sectors. Harbin Pharmaceitical Group fell 5.78% on the assurances of the authorities to bring down drug prices. Company-based telecommunications equipment manufacturer China Satcom Guomai Communications slipped by 10%. Chinese regulators have not approved the secondary issue of shares and the sale of company assets. Japanese biopharmaceutical company CanBas fallen by 19% due to discord with Asia’s largest pharmacist, Takeda Pharmaceutical for cooperation in joint development of oncology drugs. The world’s largest exporter of fuel, the Australian company Centennial Coal has added a capitalization of about 3% after it officially became known that the largest Thai collier Banpu Public has increased its stake to 19.89% in Centennial Coal.

Ukrainian Globalist
2010-06-18 15:46, Economics.

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