Asian
stocks fell, following a decline in U.S. shares, as weak American
manufacturing data added to concern about a slowdown in global economic
growth.
The
MSCI Asia Pacific Index dropped 0.7 percent to 125.97 as of 9:02 a.m.
in Tokyo. Anemic demand from emerging markets including China translated
into leaner factory order books in the U.S., data showed Tuesday.
Futures
on the FTSE China A50 Index slid 1.5 percent in most recent trading in
Singapore, with contracts on the Hang Seng Index declining 0.7 percent.
Japan’s
Topix index declined 1.7 percent. South Korea’s Kospi index retreated
1.5 percent and New Zealand’s NZX 50 Index lost 1.3 percent. Australia’s
S&P/ASX 200 Index fell ahead of a report on the nation’s economic
growth. Markets are yet to open in Hong Kong and China.
In
addition to the U.S. manufacturing report, an official factory gauge in
China dropped to a three-year low in August, while measures for the
euro area signaled a divergence in the German and French economies. An
index for Germany expanded more than forecast and a French measure
showed contraction, according to Markit Economics. U.K. manufacturing
growth cooled as export orders declined for a fifth month.
Source : Bloomberg
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