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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (45171)	12/1/2008 2:46:12 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 71821

Asia Markets Brief Asian Stocks Weak Out Of The Gate Forbes.com Staff, 11.30.08, 10:32 PM EST Honda Motor Co., Ltd.Mon Dec 01 2008 02:44 EST $22.08$-0.26-1.16%1 day3 mo1 yearAdvanced Tearsheet \| Chart \| News BHP Billiton plc ADSMon Dec 01 2008 02:44 EST $36.50$+0.73+2.04%1 day3 mo1 yearAdvanced Tearsheet \| Chart \| News Rio Tinto PLCMon Dec 01 2008 02:44 EST $100.00$+1.50+1.52%1 day3 mo1 yearAdvanced Tearsheet \| Chart \| News Asian stocks were mixed Monday, with a large bankruptcy in Japan and poor trade data in South Korea offering more evidence of the slowing of the global economy. In Tokyo, the Nikkei 225 fell 2.0% to close the morning session at 8,345.83 points, in part due to profit-taking following a roughly 8% rise last week. Real estate companies were leading to the downside following the failure of Morimoto Co., which filed for court protection with debts of $1.7 billion. It's the second-biggest bankruptcy so far this year in Japan as a string of developers have gone belly up amid a downturn in the property market and a tightening of credit. Morimoto shares were untraded, with a glut of sell orders at 420 yen ($4.41). Article Controls email print reprint newsletter comments share del.icio.us Digg It! yahoo Facebook rss Yahoo! BuzzAutomakers were broadly lower, with all signs continuing to point to weak sales in crucial overseas markets. Suzuki Motor plunged 8.7% to 1,175 yen ($12.33) as investors fretted that the terrorist attacks last week in Mumbai will impact India's economy and sales there for the Japanese automaker's joint venture Suzuki Maruti. Mazda (other-otc: MZDAF.PK - news - people ) lost 5.5% to 155 yen ($1.63) and Honda Motor (nyse: HMC - news - people ) slumped 4.9% to 1,982 yen ($20.79). Public broadcaster NHK said that the Bank of Japan will hold an emergency meeting this week to take steps to make it easier for companies to raise money. The yen was slightly stronger against the dollar at 95.29. Seoul's benchmark Kospi index was virtually unchanged at 1,076.28, a strong performance considering the release of gloomy trade data Monday for the export-dependent country. Exports plunged 18.3% in November from a year ago, the largest drop since December 2001, amid a deepening global recession. An official said the government expects the country to post a trade deficit of over $10 billion for the year. In 2007, South Korea posted a $14.6 billion trade surplus. Australia's S&P/ASX 200 fell 0.6% to 3,722.60, with banking stocks and large resources stocks weak. Westpac Banking (nyse: WBK - news - people ) was off 3.4% to 17.29 Australian dollars after it announced it had completed its acquisition of St. George Bank. Mining heavyweights BHP Billiton (nyse: BBL - news - people ) and Rio Tinto (nyse: RTP - news - people ) dropped 3.1% and 5.4%, respectively. [Johnny: There is typical a rally after a long weekend. Let see if traders are still keying off the US Economy as opposed to Europe or Asia.]