Stocks

Weak trend in most Asian markets

Agencies Mumbai | Updated on February 10, 2011

Most Asian shares fell on Thursday after the Federal Reserve Chairman, Mr Ben Bernanke, signalled that the recovery in the world’s biggest economy was still fragile and cautioned against sharp spending cuts.

Mr Bernanke suggested that the US economic conditions were still too weak for the central bank to pull back on its vast monetary stimulus, despite a drop in the jobless rate.

Japan’s Nikkei 225 was down 10.57 points or 0.1 per cent at 10,607.26. Hong Kong’s Hang Seng fell 185.59 points or 0.8 per cent at 22,978.44. Singapore’s Straits Times shed 22.38 points or 0.71 per cent to 3,127.18. South Korea’s Kospi was down 16.17 points or 0.79 per cent at 2,029.41.

Australia’s S&P/Asx 200 was up 4.7 points or 0.1 per cent at 4,909.50. China’s Shanghai Composite gained 21.73 points or 0.78 per cent to 2,795.80. Taiwan’s Taiex declined 86.31 points or 0.96 per cent to 8,920.51.

Published on February 10, 2011

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