Asian Stocks Swing on Economic Uncertainty


06/03/2012 05:49 AST  Bloomberg

Asian stocks swung between gains and losses after conflicting economic data from the U.S. and Europe clouded the earnings outlook for Asia’s exporters.

Samsung Electronics Co. (005930), South Korea’s biggest exporter of consumer electronics, rose 1.5 percent. BHP Billiton Ltd. (BHP), Australia’s biggest mining company lost 2.3 percent as metal prices slid after Chinese Premier Wen Jiabao yesterday cut the growth target for the world’s second-largest economy. Bridgestone Corp. (5108), the world’s largest tiremaker, jumped 1.5 percent after saying it will build a plant in Thailand.

The MSCI Asia Pacific Index was little changed at 126.88 as of 9:56 a.m. in Tokyo after swinging between gains and losses at least four times. The measure lost 1 percent yesterday.

For more on this Click Here

Global News
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | News Archive
Most Viewed Companies
Ticker Price Volume
ALKHODARI 31.28 2,212,424
EEC 36.99 13,824,673
EMAAR 6.7 17,612,394
SABIC 86.29 5,700,970
TAWUNIYA 68.47 421,477
RIBL 17.53 1,517,399
AMANAINSURANCE 15.72 2,625,883
Recent News

Kuwait: Credit at 5.9% in November with 2014 expected at 7% y/y
Credit growth was up in November, but failed to make up for recent weakness. Growth ticked up to 5.9% y/y on a KD 222 million gain in lending during the month, but remained weaker than expectations.

Ooredoo Oman Q4 profit falls 17pc to $21m
Ooredoo Oman, a leading telecoms operator, reported a net profit of RO8.3 million ($21.6 million) in the fourth quarter of 2014, down from RO10 million ($25.8 million) in the year-earlier period, mar

Funds turning positive on Saudi as oil stabilises
Middle East funds are turning positive on Saudi Arabia's stock market because of signs that oil prices are starting to stabilise, the latest Reuters survey of asset managers shows.

Many fu

New plan aims to boost investment in Saudi
A new plan aims to transform Saudi Arabia’s investment landscape by further diversifying the economy, building its knowledge base, creating job opportunities and maintaining the ease of doing busines

Saudi Arabia’s Alhokair planning IPO of Egyptian malls unit
Saudi Arabia’s Fawaz Alhokair Group plans to raise as much as $400 million from the sale of shares in its Egyptian malls unit, owner of one of the country’s largest shopping centres.

The f

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?