A bit of mixed bag as far as the Asian Equities Markets go at the moment:
Australia – ASX200 – closed vitualy flat with the Materials sector providing the bulk of the gains while the Financials and Industrials taketh away. The biggest mover on the day was MGX (iron ore producer) closing at 0.49 (+15.3%) while today’s giant raspberry for the biggest loser goes to Qantas Airways 1.87 (-18.34%) with a number of Property based companies filling a number of the bottom 10 places today.
Japan – NIKKEI225 – currently down less than 0.5%. Energy providing the gains today with all other sectors in the negative. I will provide leaders and losers update once the market is closed.
Hong Kong – Hang Seng – Steaming ahead today, currently up 2.5 – 3% with most sectors on the positive side of the ledger excluding Utilities and Cons Cyclicals. Leaders and losers to come.
Overall it appears as though the weakness in the financials on Wall Street overnight have flowed through to the majority of the Asian Equity Markets. Not a bad thing if you are laying in wait to buy some shares in Australian Banks.
