Nikkei:8,382.98 (–73.14) Hang Seng:16,250.27 (–571.88) Values at yesterday's close
ASIAN STOCKS dropped yesterday, led by exporters, as a downgrade of Italy’s credit rating overshadowed signs that Europe may reach consensus on measures to protect its banks from the sovereign-debt crisis.
Markets from Tokyo to Taiwan dropped after Italy’s credit rating was cut by Moody’s Investors Service after US markets closed.
Toyota fell 2 per cent to ¥2,517 in Tokyo.
Sony, Japan’s top exporter of consumer electronics that depends on Europe for 22 per cent of its sales, slid 1.8 per cent to ¥1,404.
Brambles, a supplier of warehousing pallets, sank 0.5 per cent to A$6.17 in Sydney.
Tokyo Electric Power, the utility known as Tepco, plunged 12 per cent to ¥203.
Kansai Electric Power fell 4.2 per cent to ¥1,239.
GS Engineering and Construction slumped 15 per cent to 74,100 won in Seoul.
BHP Billiton gained 3.8 per cent to A$35.13 in Sydney.
Samsung Electronics, a maker of mobile phones, added 1.7 per cent to 842,000 won in Seoul after Apple unveiled an upgrade to the iPhone 4. – (Bloomberg)
