Wednesday, October 10, 2012

Japanese Stock Futures Decline on Spain Rating Downgrade

http://www.bloomberg.com/news/2012-10-10/japanese-stock-futures-decline-on-spain-rating-downgrade.html

Japanese stock futures fell after a cut in Spain’s debt rating by Standard & Poor’s reminded investors of the risk of Europe’s debt crisis, sapping demand for riskier assets. Australian equities dropped. 

American depositary receipts of camera maker Canon Inc. (7751), which gets 31 percent of its revenue in Europe, dropped 1.1 percent from the closing share price in Tokyo. ADRs of Komatsu Ltd. (6301), Japan’s largest construction machinery maker, dropped 1.1 percent after a preliminary report showed the nation’s machine tool orders fell last month. Lynas Corp. slumped 19 percent in Sydney after a court ruling further delayed the development of its rare-earth refinery in Malaysia. 

Futures on Japan’s Nikkei 225 Stock Average (NKY) expiring in December closed at 8,550 in Chicago yesterday, down from 8,590 in Osaka, Japan. They were bid in the pre-market at 8,530 in Osaka at 8:05 a.m. local time. Australia’s S&P/ASX 200 Index retreated 0.6 percent today. New Zealand’s NZX 50 Index dropped 0.4 percent in Wellington.

No comments:

Post a Comment

If you have a comment regarding the post above, please feel free to leave it here.