Bernanke’s speech makes Hang Seng index and the Nikkei 225 to go deep into the red zone

Red Zone Calls Hang Seng and Nikkei 225

In brief: Bernanke gave the bears a chance to reduce the Hang Seng and Nikkei 225. Asian stock market will begin trading in the red zone.

Hang Seng and the Nikkei 225 will be reduced today. Hang Seng may lose about 1% as the Nikkei 225 will force investors to sell up to 2% loss. Trading on the stock exchanges in Asia Thursday, July 22, will likely fall in quotations to demonstrate against the speech Fed Chairman Ben Bernanke, quarterly reports, as well as the outcome of trading in the States. Recall that trading in the U.S. on Wednesday, July culminated with the collapse of stock indices. Quarterly reports of American companies have been mixed. The pressure on the market also had a speech of the Federal Reserve Ben Bernanke, who called the U.S. economic outlook uncertain.

As a result of trading the index of “blue chips” Dow Jones Industrial Average fell 109.43 points or 1.07%, to 10121 points. The index of wide market S & P 500 closed at lowering 13,89 points or 1,28%, at around 1070 points. “High-tech” Nasdaq Composite closed down 35.16 points to fall, or 1.58% at around 2187 points. Federal Reserve Chairman Ben Bernanke warned the U.S. Congress that the prospects for the U.S. economy remains uncertain. Bernanke, speaking in Congress on Wednesday presented the most complete picture of the Fed’s plans concerning the withdrawal of money from the system and improve short-term rates after the improvements in the economy. However, he does not expect its rapid recovery from recession. Bidding for the second largest in Asia, Tokyo Stock Exchange on Wednesday, July 21, the fourth consecutive day, closed the fall of quotations on the background of a strong yen and fears of investors before Bernanke speech and the results of stress tests of banks in Europe.

As a result of trading the main index Nikkei, reflecting the quotation 225 largest companies in the country, fell by 21.63 points (0.23%) and was 9 278.83 points. The index of wide spectrum Topix lost 2.91 points and reached a 829.35 item. At the close of the stock Toyota Motor Corp., Automaker, 70% of sales which accounted for outside of Japan fell by 0,8%. Papers of high-tech Toshiba Corp. lost 1.1%. Covokupny index of securities on the Shanghai Stock Exchange at the close of trading amounted to 2,535.39 points, having increased by 0.26% or 6.66 points compared with the previous trading session. At the time of closing Hang Seng index in Hong Kong Stock Exchange amounted to 20,487 points, an increase of 222 points or 1.1% compared with the previous trading session. Volume of transactions per day amounted to 55.1 billion HK dollars. Index of shares in public enterprises inland areas of China, listed on the Stock Exchange, was at the close of trading 11689 points, an increase of 182 points or 1.59% compared with the figure the previous trading day.

Ukrainian Globalist
2010-07-21 23:58, Economics.

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