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Falling Aussie Stocks Follow Weak US Finish, While Japan Sees Early Gains
Edited by : AL CIRCLE
2 min read
Australian shares fell in early Tuesday trading, taking cues from a weak finish for US stocks on concerns about slower global growth, while markets saw a rise in Japan.
The benchmark S&P/ASX 200 in Sydney lost 0.5 percent, to hit 4,240.90.
Major miners lost ground, with BHP Billiton Ltd. down 1.9 percent and Rio Tinto Ltd. off by 2.2 percent, after prices for raw materials eased overnight.
Other commodity-linked stocks also fell, with OneSteel Ltd. down 2.9 percent and Alumina Ltd. shedding 3.2 percent.
Japanese stocks bobbed up in early action as tech exporters clawed back some losses from the previous session, with the Nikkei Stock Average adding 0.4 percent to reach 9.732.42 and the Topix ahead by 0.3 percent.
A drop of more than three percent in shares of Sony Corp. on Monday helped attract buyers on Tuesday, sending the stock back up by 1.1 percent. Likewise, Sharp NEC Corp. advanced 1.9 percent, Renesas Electronics Corp. traded 1.9 percent higher and Kyocera Corp. gained 1.4 percent.
Car makers traded mixed despite Credit Suisse upgrading the sector to overweight. Shares of Toyota Motor Corp. improved by 0.5 percent after the company's US unit announced a 7.9 percent rise in daily sales for February.
US stock indexes declined Monday after investors saw reason for concern in some of the components of a services-sector gauge. A lowered growth target from China and a survey showing contracting eurozone business activity also weighed.
The Dow Jones Industrial Average lost 14.76 points, or 0.1 percent, to 12,962.81. The S&P 500 Index declined 5.3 points, or 0.4 percent, to 1,364.33, while the Nasdaq Composite fell 25.71 points, or 0.9 percent, to 2,950.48.
The benchmark S&P/ASX 200 in Sydney lost 0.5 percent, to hit 4,240.90.
Major miners lost ground, with BHP Billiton Ltd. down 1.9 percent and Rio Tinto Ltd. off by 2.2 percent, after prices for raw materials eased overnight.
Other commodity-linked stocks also fell, with OneSteel Ltd. down 2.9 percent and Alumina Ltd. shedding 3.2 percent.
Japanese stocks bobbed up in early action as tech exporters clawed back some losses from the previous session, with the Nikkei Stock Average adding 0.4 percent to reach 9.732.42 and the Topix ahead by 0.3 percent.
A drop of more than three percent in shares of Sony Corp. on Monday helped attract buyers on Tuesday, sending the stock back up by 1.1 percent. Likewise, Sharp NEC Corp. advanced 1.9 percent, Renesas Electronics Corp. traded 1.9 percent higher and Kyocera Corp. gained 1.4 percent.
Car makers traded mixed despite Credit Suisse upgrading the sector to overweight. Shares of Toyota Motor Corp. improved by 0.5 percent after the company's US unit announced a 7.9 percent rise in daily sales for February.
US stock indexes declined Monday after investors saw reason for concern in some of the components of a services-sector gauge. A lowered growth target from China and a survey showing contracting eurozone business activity also weighed.
The Dow Jones Industrial Average lost 14.76 points, or 0.1 percent, to 12,962.81. The S&P 500 Index declined 5.3 points, or 0.4 percent, to 1,364.33, while the Nasdaq Composite fell 25.71 points, or 0.9 percent, to 2,950.48.
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