TMCnet News

ASIA PACIFIC [Pretoria News (South Africa)]
[October 24, 2014]

ASIA PACIFIC [Pretoria News (South Africa)]


(Pretoria News (South Africa) Via Acquire Media NewsEdge) STOCKS slid yesterday, paring Wednesday's jump after US equities declined, with telecoms shares leading the slide.

The MSCI Asia Pacific index lost 0.3 percent to 137.46 points at 4.09pm in Hong Kong after surging 1.4 percent on Wednesday. China's Shanghai shares slid 1 percent, while Singapore's rose 0.9 percent.

Citic 21CN, a provider of telecoms services, slumped 6 percent in Hong Kong. Nidec sank 4.1 percent after the Japanese precision motor maker reported earnings in line with estimates. Hyundai jumped 5.9 percent in Seoul trading after posting third-quarter operating profit that beat some analysts' estimates.




"There's going to continue to be volatility,'' Donald Williams, the chief investment officer at Platypus Asset Management in Sydney said. "It's a combination of profit taking and the fact that as the economy recovers, it's getting harder… to get the same earnings growth as you could earlier in the cycle." - Bloomberg Pretoria News (c) 2014 Independent Newspapers (Pty) Limited. All rights strictly reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

[ Back To TMCnet.com's Homepage ]