Financial News and Economical Crisis

 

Wednesday, October 21, Asian stock markets retreated for the first 3 days. Fixing the lead tech and commodity sectors, respectively, against the backdrop of disappointing financial results of the Chinese telecom giants and lower oil prices.

Japanese benchmark index Nikkei 225 closed at a slight minus, Hong Kong's Hang Seng declined by 0,4%, while South Korea's Kospi lost 0.3%. Only the markets of Vietnam and Sri Lanka have managed to resist the bear's spirit in the region. The regional index MSCI Asia Pacific fell by 0,3%.

The world's largest by market value of the cellular provider China Mobile has left in a minus on 1,4% after the publication of quarterly financial results that are not too impressed investors - profit rose by only 2,6% and amounted to 28.6 billion yuan ($ 4.2 billion), did not justify the consensus forecast.

China's largest phone company, China Telecom lost 2.1% after the publication of statements, according to which net profit fell by 47% to a level of 2.98 billion yuan, ie much worse than expected.

Chinese oil and gas company Cnooc closed in a minus on 1,8% against decrease in futures correction in New York. Also in the Wall Street Journal released information that the 9-month profit Cnooc before tax fell by 46% compared to the same period last year.

Following the retreat of industrial metals in London, including copper and nickel, without a 1,6% market value in Japan remained the largest nickel producer Sumitomo Metal Mining.

Among the outsiders of today's session proved to Asian manufacturers of liquid crystal displays, which sued the U.S. telecommunications company AT T. The world's largest manufacturer of railway screens to Samsung Electronics lost 2.3%, the Taiwanese company AU Optronics lost 2% and LG Display has remained without 0,6%. Recall that AT T has accused these and a number of companies in the creation of the illegal cartel to fix prices on the screens and eliminate competition.

at auction in Seoul, shares of Samsung SDI fell by 3,9% despite the fact that the company reported an increase in quarterly profit by 48%. Regional analysts still lowered rating Samsung SDI.

Pays investors today have brought the paper's second-largest producer in the world of microchips Memory Toshiba, which grew by 4% due to the recommendation for the purchase of analysts CLSA. In addition to the growth of Toshiba distinguished in the region's largest airline Japan Airlines - the reason for the jump in shares of 6,8% was the message Nikkei newspaper about the future financing of the company by the government.

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