Foreign markets round-up: European markets slump, Asian makets steady

Posted Jul 10th 2008 7:30AM by Brian White
Filed under: International Markets, Japan

European markets slumped and Asian markets held steady on the back of Wednesday's 236-point drop in the Dow Jones industrial average.

European markets:

The Dow Jones Euro Stoxx: closed at 3,293.85, down -48.63 (-1.45%)
The FTSE 100 Index: closed at 5,435.70, down -93.90 (-1.70%)
The CAC 40 Index: closed at 4,258.26, down -81.40 (-1.88%)
the S&P/MIB Index: closed at 28,590.00, down -181.00 (-0.63%)

Asia/Pacific markets:

The MSCI Asia-Pacific Index: virtually flat at 132.05 after a drop of about 0.6%. Tech stocks were the decliners, while financial stocks were the advancers
Nikkei 225 Average: up to 13,067.21, a gain of 0.1%. Singapore's economy expanded at the slowest pace in five years while New Zealand's manufacturing industry shrunk for the third time in four months in June. Said Chua Hak Bin with Deutsche Bank Private Wealth, "We think growth will be sub-par until the end of next year and there are signs the slowdown in the U.S. is broadening." Mitsushige Akino with Ichiyoshi Investment Management in Tokyo added, "Investors have realized there's no reason to sell Japanese banks based on the U.S. credit crisis ... they've been picking up more business overseas.''
Hang Seng Index: up to 21,821.78, a climb of 0.073%. The Hang Seng's decline since November's high of over 31,000 isn't showing any decent recovery as of late. No surprise there.

Tags: DJIA, Hang Seng, HangSeng, Nikkei