Asia stocks slide on continued Europe woes; Hang Sen down 0.77%
Published Jan 08, 2012 10:18PM ET
During morning Asian trading Monday, Hong Kong's Hang Seng Index was down 0.77%, Australia's S&P/ASX200 was down 0.07%, while Japanese markets were closed due to holiday.
While fears may be ebbing that Iran will make good on threats and close the Strait of Hormuz, and while U.S. economic indicators illustrate a firming labor market and improved manufacturing output, Europe's uncertainty served as the markets' primary steering current.
Hong Kong's leading losers included Sino Land, down 2.55%, SHK Prop, down 1.91%, and Cheung Kong, down 1.19%.
In Australia, the top declines included Aquila Resources, down 3.99%, Goodman Fielder, down 3.80%, and Mesoblast, down 3.76%.
European stock futures indicated losses.
France's CAC 40 futures pointed to a loss of 0.38%, while Germany ’s DAX 30 futures signaled a loss of 0.41%. Meanwhile, in the U.K., the FTSE 100 futures indicated a decline of 0.22%.
Dow Jones Industrial Average futures were down 0.34% while the broader S&P 500 futures were down 0.41%.
Later Monday, markets will await a eurozone report on investor confidence in the currency bloc, as well as data on German industrial output.
Also Monday, Federal Reserve Open Market Committee member Dennis Lockhart is set to speak.
U.S. consumer credit figures will be released while in Europe, traders will keep an eye on Swiss unemployment and retail sales figures.
Also on Monday, data on changes in U.K. home prices will hit the wire as will Chinese trade balance figures.
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Written By: Investing.com
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