Asia Bizz: Asian Stocks Fall, After Grim US Economy Data
Bad news is prevailing everywhere, as the Asian stocks fell face forward after witnessing the grim US economic structure. Investors started to move out from the risky sectors after looking at the wobbling development in the US economy. The Yen on the other hand is flying high and is at the strongest against the dollar in 15 years, but experts say that even though the yen is good today but skeptical investors will not want to invest or take risks for the moment.
There was a huge downfall in the US home sales on Tuesday, and this was indicating that the recovery process in the States is infact very slow. This can boost the Yen power in equities as the US durable goods and home sales fall short of the predicted targets.
But even though the Asian stocks fell on the Wednesday opening, most of the Asian economic markets are still strong and showing good signs of resistance compared to the West. Japan automobile exports have been boosted recently, something that can be added to the strengthening of the Yen.
Source: Reuters
