Indonesia Leads Asia Shares Lower as Grains, Metals Rise Asian shares fell, with losses in emerging markets outweighing gains in Japan, as economies and currencies showed signs of weakening from Indonesia to India. Commodities rose, led by grains and silver, while Treasuries fell, sending 10-year yields (USGG30YR) to a two-year high. The MSCI Asia Pacific Index of stocks lost 0.2 percent at 134.06 by 1:18 p.m. in Tokyo, after rising as much as 0.1 percent earlier. Standard & Poor’s 500 index futures added 0.1 percent. Wheat, corn and soybeans climbed at least 1.1 percent. Silver extended gains from a three-month high and nickel lost 0.8 percent. Indonesia’s rupiah dropped to the weakest level since June 2009, and India’s currency slid to a record low. China’s new home prices rose for a third month in all but one city in July, while a market rout in India is pressuring officials for fresh steps to stem capital outflows. U.S. home sales probably climbed to a three-year high, data may show Aug. 21, the same day minutes of the Federal Open Market Committee’s July meeting are released. “The market’s going to be watching the FOMC minutes this week to see if there’s any more indication in regards to potential of tapering in September,” Martin Lakos, a Sydney-based director at Macquarie Private Wealth, told Bloomberg TV, adding that his company expected a reduction in the Federal Reserves quantitative easing measures next month. “There are still some concerns that a big move in QE will be disruptive.” bloomberg/news/2013-08-18/gold-holds-gains-as-asian-futures-slip-after-u-s-retreat.html
Posted on: Mon, 19 Aug 2013 05:07:02 +0000
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