The trade in the securities markets in the Asian and Pacific region stood at negative territory for the second straight day today as the main reason for this became auctions in banking and technology sectors. China made an exception because of the good performance of the companies in the construction and housing sector after the impressive data on the real estate market in 2009. The regional index MSCI Asia Pacific, which brings together ten companies stock Asian countries plus Australia and New Zealand, yielded a 0.4 percent to 125.73 points. Rising metals supported extractive companies, but they failed to compensate for the decrease in the index. Technology companies were the losers, followed by banks and insurance companies. Shares of Japanese exporters of cars and consumer electronics fell the exchange in Tokyo after the yen rose against the dollar. Government data showed that consumer confidence in Japan accounted for a sharp decline in December, which kicks off a difficult period for the economy. The index of blue chip Nikkei 225 fell 0.8 percent to end the session at 10 764.90 points. With minimal decline for the main Kospi index 0.1 percent from 1 710 points to end the trade in South Korea. Shares of the largest steel maker Posco in the country rose by 1% to 604 thousand won of South Korea in Seoul stock exchange after news that billionaire Warren Buffett, who is chairman of investment company Berkshire Hathaway, wants to increase its stake in the company.
(more…)