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发表于 7-6-2006 15:14:00|来自：新加坡
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<p>Asian Stocks Decline to Three-Month Low; China Plunges on IPOs:Bloomberg</p><p><table style="HEIGHT: 100%;"><tbody><tr><td valign="top"><span class="mediate" id="post_content">2006-06-07 02:36 (New York)<br/><br/><br/>By Darren Boey and Michael Tsang<br/>June 7 (Bloomberg) -- Asian stocks fell to a three-month low<br/>after U.S. central bankers reinforced speculation the Federal<br/>Reserve will keep raising interest rates. Exporters such as Sony<br/>Corp. and Samsung Electronics Co. dropped.<br/>``Further rate increases mean the U.S. economy may slow down,<br/>which is negative for stocks in export-oriented Asian markets,''<br/>said Kim Hyun Tae, who manages about $400 million at Landmark<br/>Investment Management Co. in Seoul.<br/>The Morgan Stanley Capital International Asia Pacific Index<br/>fell 1.8 percent to 123.99 at 3:08 p.m. in Tokyo, set to close at<br/>its lowest since March 8. All of the index's 10 industry groups<br/>slid.<br/>In Japan, the Nikkei 225 Stock Average declined 1.9 percent<br/>to 15,096.01. The broader Topix index lost 2.2 percent. Both<br/>indexes closed at the lowest since November. Automakers such as<br/>Toyota Motor Corp. declined after Nomura Securities Co. lowered<br/>its recommendation on the industry.<br/>China's Shanghai Composite Index plunged 4.9 percent, set<br/>for its biggest drop since January 2002, on concern share sales<br/>will sap demand for existing stocks.<br/>Indexes across the region fell, except in Malaysia, New<br/>Zealand and Sri Lanka. South Korea's Kospi index lost 2.7 percent<br/>to a six-month low after missing yesterday's region-wide sell-off<br/>because the nation's financial markets were shut for a holiday.<br/>Mining shares such as BHP Billiton and Jiangxi Copper Co.<br/>slid as metals prices including copper and zinc declined.<br/>The MSCI regional index slumped for a third day. The measure<br/>has declined 13 percent since reaching an all-time high on May 8<br/>on speculation that accelerating inflation will force the Fed to<br/>keep adding to its 16 straight rate increases.<br/><br/>Pulling Out<br/><br/>In the U.S., the Dow Jones Industrial Average fell 0.4<br/>percent. St. Louis Fed President William Poole told The Wall<br/>Street Journal that it would be ``a lot safer strategy to err on<br/>the side of going a little too far'' with rates.<br/>Separately, Kansas City Fed President Thomas Hoenig said<br/>it's premature to conclude that rates are too low, while Fed<br/>Governor Susan Bies said current inflation was high and it was<br/>unclear how many more rate increases were needed.<br/>Two days ago from Fed Chairman Ben S. Bernanke said recent<br/>increases in inflation measures ``are unwelcome.''<br/>Sony, the world's second-largest maker of consumer<br/>electronics, dropped 2.2 percent to 5,000 yen. Honda Motor Co.,<br/>Japan's third-largest automaker, dropped 2 percent to 7,190 yen.<br/>The company had 55 percent of its sales in North America in the<br/>year ended March 31, 2006, the highest percentage among Japan's<br/>three biggest automakers.<br/>Samsung Electronics, South Korea's largest exporter, dropped<br/>2.3 percent to 599,000 won. The company accounts for about 10<br/>percent of the nation's exports. Hyundai Motor Co., South Korea's<br/>largest automaker, declined 0.9 percent to 76,300 won. The U.S.<br/>accounted for 29 percent of its overseas sales last year.<br/><br/>Stagflation?<br/><br/>``Investors are worried about a slowdown in the U.S. economy<br/>more than anything,'' said Minoru Takada, who helps oversee about<br/>$61 billion at Mitsubishi UFJ Asset Management Co. in Tokyo.<br/>``The Fed is facing the dilemma of economic slowdown and<br/>accelerated inflation at the same time.''<br/>Interest-rate futures indicate traders are betting on an 80<br/>percent chance the Fed will raise rates again at a meeting later<br/>this month.<br/>The Shanghai Composite Index was set for the biggest drop<br/>since Jan. 28, 2002. Industrial & Commercial Bank of China, the<br/>nation's largest lender, aims to sell shares in the domestic<br/>stock market ``soon'' after it completes an initial public<br/>offering in Hong Kong, President Yang Kaisheng said yesterday.<br/><br/>Looking for More Shares<br/><br/>China Yangtze Power Co., owner of the world's biggest<br/>hydropower project, slid 4.8 percent to 6.56 yuan. Shanghai<br/>International Airport Co., which owns two of China's biggest air<br/>terminals, dropped 3.3 percent to 13.88 yuan.<br/>Bank of China Ltd. yesterday became the fifth company to<br/>announce plans to sell shares in China after the securities<br/>regulator last month ended a yearlong ban on new stock sales.<br/>The government banned new share sales in February 2005 to<br/>halt a four-year market slump and to allow more than $200 billion<br/>of mostly state-owned equity to be converted to tradable shares.<br/>``Big investors have been looking forward to subscribing to<br/>new shares and may have to sell part of existing stocks,'' said<br/>Fan Dizhao, who helps manage the equivalent of $1.8 billion at<br/>Guotai Asset Management Co. in Shanghai.<br/><br/>Automakers, BHP<br/><br/>Automakers in Japan fell after Nomura lowered its<br/>recommendation on the industry to ``neutral'' from ``bullish,''<br/>partly because of rising material costs and a lack of sufficient<br/>demand in Japan.<br/>Toyota Motor, the world's largest automaker by value, fell<br/>1.3 percent to 5,920 yen, while Nissan Motor Co., Japan's second-<br/>largest automaker, dropped 1.4 percent to 1,303 yen.<br/>BHP, the world's biggest mining company, slid 0.6 percent to<br/>A$27.85. Jiangxi Copper, China's largest listed producer of the<br/>metal, slid 6.3 percent to 10.48 yuan.<br/>Copper led declines in metals on speculation central banks<br/>will raise rates and slow world economic growth. A measure of six<br/>metals traded on the London Metal Exchange dropped 2.7 percent.<br/>Copper fell 3.2 percent, zinc dropped 3.6 percent and nickel slid<br/>2.3 percent.<br/><br/>--With reporting by Kevin Cho in Seoul, Makiko Suzuki in Tokyo<br/>and Zhang Shidong in Shanghai. Editor: Papuc (jdr) </span></td></tr></tbody></table></p> |
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