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To: Smiling Bob who wrote (288281)	11/2/2010 12:26:50 AM
From: Smiling Bob	Respond to of 306849

Most Asian Stocks Decline as Australia Raises Key Interest Rate Share Business ExchangeTwitterFacebook\| Email \| Print \| A A A By Shani Raja and Jonathan Burgos Nov. 2 (Bloomberg) -- Most Asian stocks fell as Australia’s central bank raised interest rates before policy meetings this week by the U.S. Federal Reserve and Bank of Japan. Leighton Holdings Ltd., Australia’s biggest construction company, slumped 7.8 percent. Elpida Memory Inc. and Honda Motor Co. sank at least 2.6 percent in Tokyo on concern a stronger yen will hurt the value of overseas sales. Earnings statements drove up Dena Co., a Japanese operator of shopping websites, and office-equipment maker Brother Industries Ltd. by more than 5 percent. Five stocks declined for every four that advanced in the MSCI Asia Pacific Index, which rose 0.2 percent to 130.51 as of 12:50 p.m. in Tokyo. The gauge fluctuated before a Fed policy meeting later today and tomorrow that may herald a new round of monetary easing to bolster the world’s largest economy, according to economists surveyed by Bloomberg News. The index climbed 2.4 percent in October for its second monthly advance. “The market has been buying in expectation of further quantitative easing in the U.S.,” said Lee King Fuei, a Singapore-based fund manager at Schroders Plc, which held $245 billion of assets as of June. “Clearly, that’s not sustainable. If the first quantitative easing didn’t work in turning around the economy and boosting employment, why a second one would work becomes a bigger question.” Australia’s S&P/ASX 200 Index dropped 0.1 percent, reversing an earlier gain of 0.1 percent, after Reserve Bank of Australia policymakers unexpectedly increased the benchmark interest rate by a quarter percentage point to 4.75 percent. The Nikkei 225 Stock Average lost 0.3 percent in Japan, where markets are closed tomorrow for a holiday. The Bank of Japan last week advanced its policy meeting to Nov. 4-5, following the Fed’s meeting. South Korea’s Kospi Index sank 0.2 percent, while China’s Shanghai Composite Index rose 0.3 percent. New Zealand’s NZX 50 Index rose 0.7 percent after the statistics bureau reported the nation’s wage growth nation accelerated for the second straight quarter. Futures on the U.S. Standard & Poor’s 500 Index were little changed. The index was little changed yesterday as growth in Chinese and American manufacturing and speculation the Fed will pump cash into the economy overshadowed a report that JPMorgan Chase & Co. was being probed for mortgage deals. The Institute for Supply Management said its factory index climbed last month to the highest level since May. To contact the reporters for this story: Shani Raja in Sydney at sraja4@bloomberg.net; Jonathan Burgos in Singapore at jburgos4@bloomberg.net. To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net. Last Updated: November 1, 2010 23:53 EDT Related Videos

To: Smiling Bob who wrote (288281)	11/2/2010 2:34:17 AM
From: koan	Respond to of 306849

Japan is struggling with a record high yen. Can't compete with China or even the uS. Japan is trying to hold it at 80, but the pros are saying 75. And their ecnomy is shitty. Same with euro becasue no one wants dollars. China is forced to buy them though. Nov. 1, 2010, 8:29 p.m. EDT Japan shares fall; autos sink on drop in sales TOKYO (MarketWatch) -- Japanese shares fell Tuesday morning in Tokyo, with auto makers trading mostly lower after the Japan Automobile Dealers Association on Monday reported a 26.7% drop in domestic sales of new vehicles in October from a year earlier. The Nikkei Stock Average (NIHON:JP:NI225) fell 0.1% to 9,142.79, and the broader Topix shed 0.3% to 800.90. Shares of Honda Motor Co. (TOKYO:JP:7267) (NYSE:HMC) lost 2.3%, and Mazda Motor Corp. (TOKYO:JP:7261) (PINK:MZDAF) was down 2.5%. Elpida Memory Inc. (TOKYO:JP:6665) (PINK:ELPDF) saw its stock drop 3.9% after the chip maker said it expects to report a second-quarter net profit of 8.8 billion yen ($110 million), down from a first-quarter profit of ¥30.7 billion. Elsewhere, South Korea's Kospi (KOREA:XX:$SEU) traded nearly unchanged in early dealings.