por admin » Mar May 18, 2010 8:00 pm
Las bolsas en el Asia caen por la prohibicion de Alemania al short selling.
Los indices entran a territorio de correccion.
El MSCI ha bajado 11% mas del 10% es correccion.
Asian Stocks Fall as Germany Bans Naked Short Sales, Oil Drops
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By Kana Nishizawa and Kotaro Tsunetomi
May 19 (Bloomberg) -- Asian stocks fell, dragging the MSCI Asia Pacific Index into a so-called correction, after German restrictions on short selling triggered a drop in the euro and oil prices.
Nippon Sheet Glass Co., which gets 42 percent of its revenue from Europe, tumbled 6.4 percent in Tokyo as a stronger yen dimmed the earnings prospects for Japan’s exporters. LG Display Co., a liquid-crystal display maker that gets about a fifth of its sales from Europe, lost 4.5 percent in Seoul. Woodside Petroleum Ltd., Australia’s second-largest oil and gas producer, dropped 1.4 percent in Sydney after oil retreated for a seventh consecutive day.
The MSCI Asia Pacific Index fell 1.2 percent to 115.03 as of 9:44 a.m. in Tokyo. The gauge has declined 11 percent from its high for the year on April 15 as Europe’s debt crisis and concern China will quell inflation eroded confidence in a global economic recovery. A decline of 10 percent is the level some analysts refer to as a correction.
“Investors are afraid that Germany’s ban on naked trading will reduce people’s appetite for risk,” said Hiroichi Nishi, an equities manager in Tokyo at Nikko Cordial Securities Inc. “The weakening euro is worrying investors about Japanese exporters’ earnings.”
Japan’s Nikkei 225 Stock Average dropped 1.9 percent. South Korea’s Kospi Index slumped 2.2 percent, and Australia’s S&P/ASX 200 Index declined 1.5 percent.
Futures on the Standard & Poor’s 500 Index sank 0.9 percent. The index fell 1.4 percent yesterday in New York as Germany’s financial-services regulator said that it will introduce a temporary ban on naked short selling and naked credit-default swaps of euro-area government bonds starting.
Short selling involves the sale of borrowed securities in the hope of profiting by buying them later at a lower price and returning them to the owner. When securities are sold naked, the trader fails to borrow the assets before sending an order to sell. Investors own naked credit-default swaps when they don’t hold the bonds the derivatives are linked to.
Crude oil for June delivery declined as much as 1.9 percent in New York, as the dollar climbed against the euro, curbing the investment appeal of commodities. Copper futures fell as much as 2 percent today.