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Sep 17, 2013

The Lexington Group reports Asian markets fall after the Dow Jones. Most were down due to a drop on the Dow, but the Australian S&P/ASX was supported by gold mining firms.

Aug. 16, 2013 - CHIYODA-KU, Japan -- Most markets in Asia fell on Thursday after a 100 point drop on Wednesday the Dow Jones Industrial Average. In Tokyo the Nikkei Stock Average fell 2.1% to erase solid gains made in the two previous trading sessions, Taiwan´s Taiex lost 0.8% and the in China the Shanghai Composite dipped 0.9%. The Hang Seng in Hong Kong finished will a marginal loss, while Australia´s S&P/ASX 200 gave up a tenth of a percent. The Kospi in South Korea was closed for a holiday.

Losses in Tokyo were spread across a broad range of sectors with some of the most notable decliners including; Mitsubishi Motors Corp. lost 2.9%, Panasonic Corp. slid 3.2%, and Daiwa Securites Group gave up 3.7%.

Gold mining firms rose in Australia as the yellow metal´s price rose 1% yesterday; Kingsgate Consolidated climbed 3.1% and Newcrest Mining Ltd. rose 1.3%. The financial services firm AMP Ltd. gained 3.5% even after announcing that first half of the year profits fell 9% but still beat earlier projections. The fall in profits came from a poor performing life insurance division which experienced unusually high number of claims.

In Hong Kong, a number of blue-chip companies released earnings reports and the markets responded in turn. The personal computer manufacturer Lenovo Group Ltd climbed 2.1% after reporting a 23% increase in its first half of the fiscal year profits. Logistics company Li & Fung jumped 11.6% despite a drop in half year profits, investors were pleased with their forecasts for the second half. The internet giant Tencent Holdings Ltd. gave up half a percent after its profits did not reach expectations.

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Posted: Tuesday September 17, 2013, 7:19 pm
Tags: group the - contact asia lexington report thelexingtongroup.com 81345209601 16.08.2013 [add/edit tags]

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Fred Hoekstra (6465)
Saturday September 28, 2013, 6:53 am


Folks, do not Note this, or follow the Link to the Website, because it is nothing more than Spam!

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\nAnalysts at The Lexington Group predict gold to rally strongly in the second half of 2013. Citing a variety of factors including military intervention in the Middle East, quantitative easing, and increased consumption.\r\nGold has been one of the worst...


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