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- Asian Stocks close: most stocks declined due to the stronger yen and the increased China’s bad loans
Asian Stocks close: most stocks declined due to the stronger yen and the increased China’s bad loans
Most Asian
stock indices declined due to the stronger yen and the increased China’s bad
loans. Japanese shares were extending losses into a third straight session,
caused by a stronger yen and a sharp fall in U.S. bond yields. The strong yen
had a negative impact on exporters.
Chinese
banks had the biggest quarterly rise in bad loans since 2005.
The Chinese
stock index Shanghai Composite managed to close above the flatline. Foreign
direct investment in China rose at annual rate of 3.4% in April.
Indexes on
the close:
Nikkei
225 14,096.59 -201.62 -1.41%
Hang
Seng 22,712.91 -17.95
-0.08%
Shanghai
Composite 2,026.5 +1.53 +0.08%
Japan
Display Inc. dropped 12% after the company forecast a drop in profit for this
fiscal year.
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