Asian stocks fall on result of commodity price and weak US data

Asian stocks fell today and shed all the week’s gain over reports of US economic slowdown, decline in home sales and increase in unemployment level. All the Asian stocks fell with regional benchmark headed for one weeks low as commodities entered the bear market. Moody’s trimmed the ratings of 17 global banks which increased risk of Bonds.

MSCI Asia pacific index declined to 1.11 per cent in Tokyo.

Nikkei decreased by 27.22 point or 0.31 per cent, South Korea’s Kospi plunged 42 point or 2.22 per cent, Hang Seng index declined by 197.56 points or 1.03 per cent, Straits Times trimmed 15.23 points or 0.54 per cent. Jakarta Composite descended by 32.03 points or 0.82 per cent.

The only index in green was KLSE composite which gained 5.26 points or 0.33 per cent. 

Shanghai Composite remained closed today due to the dragon boat festival.