As the Wall Street sales drop MF Global Bankruptcy

As the Wall Street sales drop MF Global Bankruptcy

Wall Street closed the best month in 20 years on Monday in a decrease with the failure of a trading company MF Global Holdings Ltd. and renewed concerns about Europe's debt crisis hit financial stocks.
In a sign that the problem of Europe is still far completed, yields on Italian and Spanish bonds surged, pushing the European Central Bank to buy its debt, while the shares of European banks were under selling pressure.
MF Global Holdings Ltd., futures brokers who make big bets on European sovereign debt, filed Chapter 11 bankruptcy protection the U.S., making it the largest U.S. victims of the crisis the euro zone.
Financial stocks fell sharply. Morgan Stanley, which tend to perform poorly when worries about Europe increased, decreased 8.6%. Losses on Monday marked the reversal of the euphoria over the deal last week with European leaders to stem the debt crisis.
News at the end of the day that Greece asks unexpected referendum on new EU aid package to confuse investors and adds to the uncertainty.
Contributing to the downward pressure, the U.S. dollar surged to a three-month high against the yen as the Japanese government intervened to stop the appreciation of its currency, which hurt the export-based economy.
Surge in energy stocks and the dollar led to natural resource companies fell sharply. S & P energy index fell 4.4% and became the hardest hit sectors.
Despite this decline, the benchmark S & P 500 rose nearly 11% for the month of October and recorded the best monthly percentage rise since December 1991. Nasdaq also rose 11% in October, while the Dow Jones rose 9.5%.
Most of the increase occurred driven by the policy of the European leaders to improve regional bailout and recapitalization.
But despite the gains in October, the S & P 500 flat for so far this year.
The Dow Jones industrial average fell 276.10 points, or 2.26%, to 11,955.01. Standard & Poor's 500 index fell 31.79 points, or 2.47%, to 1,253.30. The Nasdaq Composite lost 52.74 points, or 1.93%, to 2,684.41.

USD / IDR Gains; But Could Fall Into 8.820 Tuesday

USD / IDR Gains; But Could Fall Into 8.820 Tuesday

USD / IDR rose at 8.855 versus 8.825 after the Japanese government intervened to boost the U.S. dollar against the USD, dealers said.

"The dollar-rupiah could slip again tomorrow as the sentiment is still positive at this local unit if Japan did not intervene anymore," said a dealer.

He estimates that USD / IDR 8.820 will test support again Tuesday, with resistance at 8.880.

Led by China Shares Lower Property Developers

Led by China Shares Lower Property Developers

China 's shares ended lower Monday, ending a five-day rising streak on the main index, due to a decrease in property companies on the weekend after Beijing lowered expectations of policy easing directly in this sector.
The benchmark Shanghai Composite Index, which tracks A and B shares, ended down 0.2% at 2468.25. The Shenzhen Composite Index rose 0.5% to 1040.93, driven by gains in media and publishing company.
Shanghai index rose 4.6% in October, the first increase in four months, but analysts say further gains may be limited in the cooling Chinese economy.
"China Promises to policy easing concerns over further monetary tightening, but can not remove the concerns on the market because the company's margins to deteriorate," said Li Lei, an analyst at Gold State Securities. "Thus, the profit-taking can not be avoided and the market trend will be very limited."
Chinese companies listed in 2304 reported a net profit growth average of 19% in the period from January to September, lower than the increase of 22% in the first half of this year, the Shanghai Securities News reported Monday, citing its own statistics.
But not all analysts pessimistic about the prospects. Amy Lin, an analyst at Care Capital Securities said the correction in the normal market because the profit of 7% in the last five sessions.
"Sharp correction in recent months have been fully appreciated in the hope of a slower economy," he said. "I think the worst for the local market on the back we promised that the government will improve policies will help the investor confidence back."
Property developers led the broader market decline due to profit taking and after the central government at the weekend urged local governments to remain vigilant in keeping real estate prices.
China Merchants Property fell 0.2% to CNY17.65 and Beijing Vantone Real Estate fell 1.6% to CNY4.27. Shares of real estate companies rose sharply on Friday after the minister's house shows that China's implementation of a home purchase limit will be removed immediately.
Banks also fell on concerns over slower earnings growth. Bank of China ended down 0.7% at CNY3.00, Citic Bank fell 1.3% to CNY4.45 and Bank of Communications fell 1.3% to CNY4.71.
However, media and publishing company bucked the trend that larger markets, extend their recent gains on expectations that the government will spend billions of yuan to support the cultural industry. Shanghai Xinhua Media rose 4.3% to CNY7.96, Huawen Media Investment rose 8.0% to CNY7.39 and the Northern United Publishing & Media Group ended up 3.3% at CNY9.97.

Tokyo Stock Exchange Closed Low; Benefits Only While Yen Intervention

Tokyo Stock Exchange Closed Low; Benefits Only While Yen Intervention

Tokyo stocks closed sharply lower despite the yen after Japan's intervention in currency markets, but the advantage is only temporary, with the currency-sensitive exporters such as Canon and Nikon join the affected stocks such as Daiichi Sankyo's profit dragged the major indexes lower.
Nikkei Stock Average closed down 62.08 points, or 0.7%, to 8988.39 following the 1.4% rise on Friday. End of the session selling pressure pushed the index closed at its intraday lows.
The Topix index of all First Section of Tokyo Stock Exchange also fell 7.37 points, or 1.0%, to 764.06, with 26 of 33 subindexes ended in negative territory.
The main index begins with a negative refractive players respond to the book profits after strong gains following two agreements in Europe on a plan to deal with the debt crisis in the region last week.
Shares jumped into positive territory mid-morning, however, the yen weakened as a sudden and sharp currency market intervention by the finance ministry.
Prime Minister of Japan Yoshihiko Noda said that the government intervene to avert damage to the export economy of the yen's strength.
Takuji Okubo, chief Japan economist at Societe Generale Corporate & Investment Banking, commented that the rules of Japanese official intervention in the yen made to withstand the strength of the yen, but not to weaken the yen.
"The conditions in which they intervened at this time according to the rules of a perfect rule of conduct also states that the yen should not weaken too much because of the intervention."
He pointed out that the dollar, which rose from the mid-level mid-Y79 Y75 until the close of trading on the stock market at 0600 GMT.
Meanwhile, the euro also rose sharply, breaking the mark Y111.
Shares of major Japanese exporters rose by Canon, Nikon, Kyocera and other currency-sensitive stocks rose sharply. But the advantage did not last long due to profit taking soon enter each of the three successful dututup higher on the day, closing up 1.0% to Y3, 600, up 1.8% to Y1, 789, and up 0.9 % at Y7, 010, respectively.
But stocks like Honda Motor and Fanuc down. The pair ended down 3.7% at Y2, 406 and down 1.1% at Y12, 930. Honda shares may also have been influenced by a Nikkei report that flooding might force Thailand to shut down a key plant for six months.
Tokyo Electron is among a number of companies that will report results after the market close of business Friday. The company said that net income for the second quarter fell 46% from a year earlier. Some analysts say the numbers as expected. The company also revised its outlook for full year net profit of Y34 billion to Y40 billion.
Other companies reacted negatively to the business results delivered Friday to Seiko Epson, which ended down 1.0% to Y1, 054 after posting second-quarter operating profit of Y3.1 billion, slightly below its guidance of Y3.4 billion.
Important reporting company during trading hours, including Fujifilm Holdings, which closed down 2.3% at Y1, 950 after saying sales and earnings for the fiscal first half ended September 30, down from the previous year due to strength of the yen and higher raw material costs.
Drugmaker Daiichi Sankyo also lost 3.5% to Y1, 536 after saying that net income for the three months through September declined 39% from a year earlier. It also lowers full-year earnings outlook for the yen and the decline in unit sales in India, Ranbaxy Laboratories.
Konica Minolta Holdings stock up 4.1% at Y580 after a quarter better than expected second solid. The company cuts full-year operating profit target to Y40 billion from Y42 billion.
December Nikkei 225 futures closed down 90 points, or 1.0%, in 8960 at the Osaka Securities Exchange.

Crude Oil Still Down; Meeting of the Central Bank, U.S. Jobs Eyed

Crude Oil Still Down; Meeting of the Central Bank, U.S. Jobs Eyed

Crude oil will remain low as continued profit taking on a stronger dollar against major currencies amid a relatively thin trading. "Traders are trying to find a cue that the way to go," said Mitsubishi UFJ Research Consulting analyst Tomomichi Akuta, on doubts over how the rescue plan will work.



In addition to meeting the U.S. Federal Open Market Committee on Tuesday and Wednesday, the ECB monetary policy decision on Thursday, and U.S. jobs data on Friday will be in focus, he added. Nymex December crude oil fell 90 cents at $ 92.42/bbl on Globex ICE December Brent is off 91 cents at $ 109.00/bbl.

Wait G20, Asia Oil Stable

Wait G20, Asia Oil Stable

World oil in Asian trade on Monday (31/10) is stable as investors awaited the results of the G20 meeting this week in Paris.

U.S. crude oil types liight sweet rose 5 cents to U.S. $ 92.46 per barrel through electronic trading on the New York Mercantile Exchange (NYMEX). While Brent crude fell 1% to U.S. $ 109.90 per barrel in London.

On Saturday last week, Spain and Portugal confirm European debt crisis is a global problem. They called on the U.S. and the G20 to help find a solution. G20 group will meet this week in Cannes, France on 3-4 November.

U.S. dollar exchange rate had the lowest pressure against the yen to 75.77 yen in Asian trade today. This is potentially the more confirmed kebiajakan Japanese government to intervene.

Closed Kospi down 1.1%; Support Soon 1900

Closed Kospi down 1.1%; Support Soon 1900

Kospi ended down 1.1% at 1909.03 sale by the local institutions which release KRW263 billion worth of shares, as investors were cautious about how Europe will carry out his plan to resolve the debt crisis on the continent, analysts say.
Although the lower end, the index rose nearly 8.0% in October as fears of recession, the market potential of the global economic decline compared with September and August.

Analysts peg the immediate support for the index in 1900, then around 1850, with resistance at the psychologically important 2000 mark for the short term.

Broad-based losses, with some chemical stocks heavyweight reported a sharp decline after the rise recently; SK Innovation fell 3.9% to KRW170, 500 and LG Chem fell 4.2% to KRW364, 000.

Among banks, KB Financial down 3.6% to KRW43, 400 following 3Q results are below expectations. On the rising edge, the electronics giant Samsung Electronics rose 2.4% to KRW968, 000 on hopes for better 4Q earnings.

HSI Down 1.4%; range from 19.400 to 20.400

HSI Down 1.4%; range from 19.400 to 20.400

HSI down 1.4% at 19,740.08, profit-taking after the index rose 11.3% during the last six sessions, but the modest trading volume at HK $ 36.67 billion, indicating that selling pressure is not really heavy.

South China Research tips HSI will remain in the range of 19.400 to 20.400 in the near future. House estimates will trade sentiment cautious ahead of a number of events this week, including the G-20 Summit, the details of the injection of funds allocated EFSF China to Europe, as well as any announcements related to the QE3 after the U.S. FOMC policy meeting.

Chinese property stocks fell after China's PM Wen Jiabao said Saturday the country should proceed firmly tightening the property for the remainder of 2011. China Overseas fell 5.7% at HK $ 14.66 and China Resources Land down 5.3% at HK $ 11.56.

IHSG sales drop 1.7% First Session; 3750 Support

IHSG sales drop 1.7% First Session; 3750 Support

Indonesia stock market declined by 1.7% in the first session 3765,125 level caused by the weakening Asian markets that inspired some traders to make profit taking after a sharp rise recently, traders said.

They estimated the support level of the index will be in 3750.

"Action sale occurred amid anxiety that the correction will probably continue until this weekend," said one trader from a local securities firm.

Astra fell by 3.1% at level IDR67.750, Bank Rakyat fell by 2.2% while the Earth IDR6.650 level fell by 4.1% at level IDR2.350 on profit-taking.

Nikkei flat, Effect of Intervention Reduced

Nikkei flat, Effect of Intervention Reduced

Nikkei nearly flat, is now up only 0.02% at 9052.69, after falling back into negative territory after the currency market intervention by Japanese authorities to weaken the JPY.


Market participants "know that the trend (yen strength) applicable will not change even if the Japanese to intervene unilaterally in the market," said Hideyuki Ishiguro, a supervisor at the investment strategy at Okasan Securities.

However, the index is likely to persist in 9000 for the remainder of the session, as market focus shifts to U.S. economic indicators in the coming days, he said.

12/33 Topix subindexes higher. Among companies that reported earnings during the afternoon session, Sumitomo Chemical fell 2.9% to Y297 after cutting operating profit.

Mitsubishi Estate fell 2.0% to Y1, 366 after its 1H operating profit to fall. Mitsubishi Heavy Industries rose 1.2% to Y329 after the company reported a net income increase per year in 1H. Nikkei 225 futures fell 0.1% in December 9040.

Kospi down 1.0%; Support Soon 1900

Kospi down 1.0%; Support Soon 1900

Kospi fell 1.1% at 1907.73 in afternoon trade, take a breather after a recent recovery, with domestic institutions sell local shares worth KRW190 billion, while foreigners sold a net worth of KRW13 billion, analysts said.

Tips direct support to the mark in 1900, about the level of 1870. The fall of the current stock price does not imply serious damage to investor sentiment, said Tong Yang Securities analyst Lee Jae-mahn.

Participants just want to hint again about how Europe will carry out his plan to resolve debt problems on the continent, he added.

Several heavyweight stocks led the decline following the chemical recent sharp rise, with SK Innovation lost 3.9% to KRW170, 500 and LG Chem down 3.3% to KRW367, 500.

To rise, chipmakers heavyweight shines on hopes for increased profit in the fourth quarter; Samsung Electronics rose 2.2% to KRW966, 000, while Hynix was up 0.4% at KRW23, 000

Gold Down; Hope Of Support Volatility

Gold Down; Hope Of Support Volatility

Emas lebih rendah di Asia, tetapi pasar mengambil dukungan dari bunga berkelanjutan safe-haven karena para investor mengantisipasi volatilitas jangka dekat karena kekhawatiran atas pertumbuhan AS terus memperlambat ekonomi dan krisis utang di zona euro analis, Helen Lau, senior di UOB broker KayHian, kata. "Beberapa orang tidak ingin menjual karena mereka berpikir akan ada banyak volatilitas akan maju," katanya, tip jangka dekat dukungan pada $ 1.700 per troy ounce.

Spot emas berada pada $ 1,714.95 / ons, turun $ 28,45 dari pemukiman sebelumnya sebagai USD menguat tekanan komoditas denominasi dolar. EUR / USD yaitu sebesar 1,4004 1,4147 akhir Jumat dari; harga komoditas dalam USD menjadi lebih mahal untuk investor yang memegang mata uang lainnya ketika greenback kuat. Setelah USD melembutkan lagi, harga emas cenderung meningkat, kata Lau.

HSI sales drop 1.1% First Session; 19 300 Support

HSI sales drop 1.1% First Session; 19 300 Support

Hangseng Index decreased by 1.1% at 19791.74 level of the first session with the index experienced profit taking pressure after an increase of 11.3% in the last six sessions, said Daniel So, an analyst at Sun Hung Kai Financial.

He estimates the short-term support will be at level 19 300.

"Consolidation is very reasonable after the recent rise in the index are sharp, while the low trading volume indicates that selling pressure is not too heavy", he said.

The volume of trade amounting to HK $ 34 billion.

China property stocks declined after Chinese Prime Minister Wen Jiabao said Saturday that the country should be firmly in the continuing tightening of the property sector for the remainder of 2011.

China Overseas fell by 5.9% to HK $ 14.62 and China Resources Land fell by 5.9% to HK $ 11.48.

China Shares First Session sales drop

China Shares First Session sales drop

China 's shares declined in the first session on profit taking and concerns over slower growth in corporate earnings results in coming quarters.

Shanghai Composite fell by 0.5% at 2460.42 level and is expected to consolidate around the 2450 area during the day.

"Letup on a tightening of monetary policy of China has been reduced but this will not remove the overhang on the market such as corporate margins are deteriorating," said Li Lei, an analyst at Gold State Securities.

"Thus, the profit-taking can not be avoided and market gains will be limited", he added.

China Vanke fell by 0.6% at the level of CNY7.86, China Merchants Property fell by 1% at level CNY17.52 and Shanghai New Huangpu Real Estate fell by 1.4% at CNY8.56 level.

Shenzhen Composite Index fell by 0.2% at 1033.93 level.

IHSG sales drop 0.4%; 3800 Support

IHSG sales drop 0.4%; 3800 Support

Indonesia stock market declined by 0.4% at 3815.33 level on the weakening Asian stock markets so far so as to provide inspiration for profit taking after a sharp rise recently, traders said.

They estimated the support level of the index will be in 3800.

"The main index is moving to restrict who can reflect the attitude of caution over the bearish trend in the regional market," said one trader from a local securities firm.

Astra fell by 0.3% at level IDR69.700 and Bank Rakyat fell by 0.7% at level IDR6.750 on profit-taking.

Gold Down, But Euro-Zone Worries Increase

Gold Down, But Euro-Zone Worries Increase

Gold could reaffirm its status as a safe-haven assets this week if the risk of fading amid lingering fears the euro-zone debt issues, Mitsui Global Precious Metals said in a statement. Sentiment remained cautious because many commentators see the European bailout deal last week as "little more than short-term fix," says the home. "A lot of the big questions of implementation remain unanswered, and the positive sentiment ... maybe weakened when the realization is fully absorbed," he said.

This uncertainty can help to increase the price of gold in the coming days as investors once again looking for a safe store value, he added. "Gold is back to form (last week) after a period of indifferent performance will win back some support," says Mitsui, gold rose 6.3% last week. Gold lower in Asia as investor appetite company USD damps; spot gold was at $ 1,712.40 per troy ounce, down $ 31 from the previous close.

Crude Oil Extends Losses On Light Profit-Taking

Crude Oil Extends Losses On Light Profit-Taking

Crude oil extend losses early mild profit-taking, such as the USD strengthened against major currencies.

EU debt crisis is not over, but the market is likely to rule out problems to see the results of the FOMC meeting to be held on Tuesday and Wednesday and ECB interest rate decision will be released this week, said Daiichi Shohin analyst Koichi Murakami; the October business reports by the U.S. Institute of supply Management on Tuesday will also observe the signal.

Nymex December crude oil fell 53 cents at $ 92.79/bbl on Globex; December ICE Brent from 96 cents at $ 108.95/bbl.

Hang Seng Slim Down, Some Blue Chips Still Supports

Hang Seng Slim Down, Some Blue Chips Still Supports

Hong Kong's Hang Seng index moved in the range of 20.000 on Monday morning as trading profits by some components of the major blue-chip index offset weakness in the property sector and other sectors.

Hang Seng Index down 0.28% at 19963.06 after being entered into the territory positf at the opening, while the Shanghai Composite lost 0.1%.

In early trading, HSBC Holdings PLC rose 0.8%, while Bank of Communications Co. rose 0.7%. But worries about China's real estate market memeukul some stocks of certain developers, with China Resources Land Ltd. dropped, Agile Property Holdings Ltd. fell 3.6%, China Overseas Land & Investment Ltd. and is lower by 4.8%.

Decrease the attenuation Stock Exchange China Property Trigger

Decrease the attenuation Stock Exchange China Property Trigger

China 's shares opened lower, take a hint from the weakness of regional exchanges. Shanghai Composite Index down 0.1% at 2470.25 level and is expected to move within the range of 2450-2500 levels.

"This correction is normal after last week's rapid rise. The weak performance of Asian markets is also an impact on trading sentiment," said Amy Lin of Care Capital Securities.

Property developers fell in active trading after the central government at the weekend urged local governments to maintain a tightening in the real estate sector; China Vanke fell by 0.8% at the level of CNY7.85, China Merchants Property fell by 1% at level CNY17.51 ​​and China Poly real Estate fell by 0.8% at CNY10.09 level.

Shenzhen Composite Index down 0.1% at 1035.30 level. 

Kospi Flat In Trade Chopper

Kospi Flat In Trade Chopper

Kospi moving flat at 1929.59 level in choppy trading despite the technology sector strengthened; local institutions do for KRW37.8 billion net buy foreign stocks while doing net buy of KRW14.3 billion.

Samsung Electronics rose by 2.5% at level KRW969.000 as institutional investors increase their portfolio after the results of the third-quarter earnings report was strong; "when there is still caution about the prospects for a wider market and you still take action to buy something, it will usually be a blue chip stocks, "said Park Seok-hyun, an analyst at KTB Investment & Securities.

Park added that the market is expected to wait for policy measures are more to support the financial markets, but for now, the increase tends to be limited by the index will likely be overshadowed by profit taking.

KB Financial down 2.4% at level KRW43.900 after lower outlook on third quarter earnings results.  

Precious Metals Fall, Gold Slips 1%; USD Stronger

Precious Metals Fall, Gold Slips 1%; USD Stronger

Precious metals are gold slipped lower by 1.0% rebound in Asian trade as USD strengthened. Dollar-denominated commodities more expensive for holders of other currencies appear, when the greenback strengthened. EUR / USD is at 1.4086 vs 1.4147 late Friday in New York.

Traders said the outlook for this weekend remained cautious ahead of key central bank meetings, release of economic data and after a round of buying last week after the announcement of a plan to contain Europe's debt crisis. Spot gold fell $ 17 to $ 1,726.40 / oz, but off a session low of $ 1,725.80 / ounce, silver down 27 cents at $ 35.02/oz, platinum dropped $ 35 at 1.612 U.S. dollars / ounce, and palladium was at $ 655/oz, down $ 10 from the previous close. 

Yen Intervention Jumped Sharply Post Comments minister

Yen Intervention Jumped Sharply Post Comments minister

The U.S. dollar surged against the yen on Monday morning, was around 78.50 yen compared with 75.77 yen in late trading Friday. The euro also rose against the yen, was disekitat 110.30 yen, compared with 107.24 yen on Friday.

The dollar reached a new record low against the yen on Monday morning, and Japanese Finance Minister in June Azumi said that Japan will take firm steps to stem the rise of its currency if needed, but did not provide specific details, according to news reports.

Japanese stocks turned positive after the fall of the yen, with Japan's Nikkei traded up 0.9% after moving in negative territory earlier in the morning. 

Asia Lyrics Profit Japan And China data

A number of major corporate earnings reports Japan and China manufacturing data will likely be key to the movement of trade in Asia in the coming weeks.

With Japan's earnings season in full swing, a number of blue-chip companies are closely watched ready to announce financial results interimnya.

Honda Motor Co. and Panasonic Corp. are scheduled to release a report on Monday, Hitachi Ltd. on Tuesday, and Sony Corp. and Nissan Motor Co. is ready to announce on Wednesday.

Many of these companies have seen their production - who is recovering from the devastating earthquake and tsunami in March - was flooded in Thailand, shut down their factories or their suppliers.

Sony, for instance, said earlier this month that they would delay the launch of a new digital camera because the related production problems in Thailand, while Honda has seen flooding this closing production lines in Southeast Asian countries.

Analysts will be watching closely the earnings outlook of these companies and any effect of the situation of Thailand, as well as the Japanese yen continued to be strong which has eroded profits abroad. The U.S. dollar has fallen to around level 76 yen, down from about 81 yen a year ago at this time.

Earnings report itself may show some of the issues of post-quake production from the initial quarter. Honda, for example, is expected to record 61% decline in second-quarter earnings, according to the median forecast from a Reuters survey.

Meanwhile, a pair of keys from a survey of China's manufacturing sector is scheduled for release Tuesday, and is expected to show an increase from the previous month.

Last week, HSBC released preliminary results of China Purchasing Managers Manufacturing Index, which showed a return to growth.

Index called the "flash", is based on the initial response of 85% to 90% of the survey, the figure 51.1, up from 49.9 in September and above the 50 level that separates expansion from contraction of the overall whole.

Sekuruh coming week will see the release of HSBC survey, along with government-sponsored version of the China Federation of Logistics & Purchasing, which tend to be more charges against a large company.

China stocks in particular tend to react significantly to the results of the survey, which also includes a sub-component index on the input and output prices that will be watched closely for clues whether the central bank will loosen policy in the near future.

Meanwhile, Australia's central bank will also be a focus, with policy decisions that will come out on Tuesday.
By the third quarter consumer inflation comes at a relatively mild, speculation has grown that the Reserve Bank of Australia will cut interest rates.

Also due out of Australia in the coming week is Australian retail sales for September, which is scheduled on Thursday, and earnings from Westpac Banking Corp.