REF : BLOOMBERG
"July 11 (Bloomberg) -- Asian stocks declined for a fifth day, rubber dropped and the yen rose on concern slowing global growth will reduce demand for products from computer chips to air travel.
The MSCI Asia Pacific Index fell 0.3 percent as of 8:14 a.m. in Tokyo, heading for its longest losing streak since May. The Nikkei 225 Stock Average slid 0.5 percent, while futures on the Standard & Poor’s 500 Index were little changed. Rubber dropped 0.4 percent in Tokyo market while oil rose after slumping 2.4 percent yesterday. The yen strengthened against all 16 of its major peers.
Applied Materials Inc., the chipmaking-equipment provider, reduced its fiscal 2012 sales and profit forecasts amid weakness in Europe, China and the personal-computer market. China Southern Airlines Co., the nation’s biggest carrier by passengers, said first-half profit may fall more than 50 percent because of slowing economic growth and higher jet fuel prices.
To contact the reporter on this story: Richard Frost in Hong Kong at rfrost4@bloomberg.net "
Also quick Asian Summary 11 July 2012.
Asian stocks decline for a fifth day (MSCI Asia Pacific sliding 0.1%) on the continuing concern the slowing global economy will curb earnings growth. Commodities a mixed bag sees Oil gain 0.9% and Rubber losing 1.1%. Mondi group plans to acquire 93.4% of Nordenia International. Dow closes down 0.77% and the S&P declines 0.65% after SA futures close.
Steven
Steven Morris CA (SA)
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