BHP Billiton lost 1.5 percent to A$43.41 in Sydney. Rio Tinto Group, the world’s second-largest mining company by sales, slid 1.6 percent to A$78.96. Jiangxi Copper Co., China’s biggest producer of the metal, declined 1.6 percent to HK$24.35 in Hong Kong. Cnooc Ltd., the nation’s biggest offshore energy explorer, fell 1.4 percent to HK$17.88. The MSCI Asia Pacific Index lost 2.2 percent this feather hair extensions wholesaleyear through May 20, compared with gains of 6 percent by the S&P 500 and 1.4 percent by the Stoxx Europe 600 Index. Stocks in the Asian benchmark are valued at 13.5 times estimated earnings on average, compared with 13.4 times for the S&P 500 and 11.2 times for the Stoxx 600.Nomura cut its share-price estimate on Komatsu by 11 percent and lowered its ratings on companies including Hitachi Construction, Kobe Steel, and Kawasaki Heavy. Oil, Metals Raw material producers dropped after oil and copper futures declined on speculation demand will weaken as Europe’s debt crisis deepens. Crude oil for July delivery fell as much as 1.2 percent to $98.98 a barrel today on the New York Mercantile Exchange. Copper for three-month delivery dropped as much as 1.5 percent to $8,935 a metric ton on the London Metal Exchange. Construction Machinery Japanese makers of construction machinery fell after Nomura Holdings Inc. reduced its estimate for sales of the equipment in China by 20 percent in the year ending in March 2012 as feather hair accessoriesgovernment measures to cool an overheated Chinese economy will likely weigh on demand in the construction industry. China’s manufacturing may expand at a slower pace this month, a preliminary reading of a purchasing managers’ index showed. Komatsu Ltd. (6301), the world’s second-biggest maker of construction machinery, plunged 6.1 percent to 2,376 yen. Hitachi Construction Machinery Co. declined 6.2 percent to 1,672 yen. Kobe Steel Ltd. dropped 4.4 percent to 175 yen. Kawasaki Heavy Industries Ltd. lost 4.9 percent to 291 yen. Europe’s debt crisis is not limited to that of Greece. Italy’s Treasury said it will “intensify” structural changes in the economy and push ahead with measures to balance the budget by 2014 after Standard & Poor’s said its debt rating is at risk of a downgrade. Spanish Prime Minister Jose Luis Rodriguez Zapatero led his Socialist party to its worst defeat in more than 30 years in local elections, prompting a transfer of power in Spain’s region that risks reviving concerns over the country’s public finances. Worst Performers Gauges of industrial and consumer discretionary companies were the worst performers among the 10 industry groups in the MSCI Asia Pacific Index, all of which dropped. Esprit, which gets about 83 percent of sales from Europe, declined 3.5 percent to HK$29.30 in Hong Kong. Cosco Pacific Ltd. (1199), which operates container facilities at Piraeus, Greece’s largest feather hair extensions wholesaleport, dropped 2.4 percent to HK$15.46. Canon, which counts Europe as its biggest market, slipped 1.6 percent to 3,635 yen in Tokyo. Tokyo Electric slumped 7.1 percent to 341 yen in Tokyo, the biggest decline in the regional benchmark index. The company reported a loss of 1.25 trillion yen ($15 billion), the biggest for a non-financial Japanese company, as it booked a 1.1 trillion yen charge related to costs for the worst nuclear accident since the 1986 explosion at the former Soviet Union’s Chernobyl Nuclear Power Plant.
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