Monday 28 September 2009

Asian stocks fall on earns concerns, Yen continues with its strengthening

Mon, Sep 28 2009, 07:00 GMT (Barcelona) – Asian stocks markets have started today's session following the weak note posted by Wall Street last Friday on the back of concerns on earnings and yen strengthening. European markets seem to continue with the red numbers. USD/JPY fell to 8-month low.

Nikkei 225 collapses 2.50% today to trade just above 10,000 points level. Hang Seng index drops 1.66% so far today, S&P 500 posts 0.75% declines, MSCI Asia Apex 50 decreases 1.75%.

Asian stocks, as well as European markets, are concerning on earnings on the back of the Yen strengthening and the Japanese finance minister blessing the recent appreciation

Yen has continue today with its strengthening against the Dollar with the pair losing 0.35% on the day from opening price at 89.63 to the current 89.30, and collapsing around 335 pips from last Thursday high at 91.60 to 8-month low at 88.22.

EUR/USD is falling 0.90% from opening price action at 1.4704 to the current 1.4610/20 after posting 1.4560 as 2-week low. GBP/USD is trading at 4-month lows close to 1.5800, 0.90% below todqay's opening price action at 1.5966.

EUR/JPY trades 0.75% lower than 131.76 opening price to the current 130.80. GBP/JPY declines 1.00% from opening at 143.10 to the 141.50 zone.

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