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Asia Pacific
Concerns over rising US interest rates, worries over a missile test by North Korea and moves in China to slow the economy took their toll on most major Pacific markets over the week.
South Korea was particularly weak as tensions over North Korea's plans to test a new long-range missile hit confidence. The KOSPI fell 2.6%.
Taiwan's TWSI also struggled, down 1.9% to a six-month low. Investors were nervous about political instability as president Chen Shui-bian faced a vote of no confidence in his cabinet. Investors were also unhappy at plans by Hon Hai Precision Industry's plans to acquire digital camera maker, Premier Image Technology, through a share swap.
In Hong Kong the Hang Seng was 0.2% lower, despite strong performance from PCCW, Hong Kong's largest telephone company, as Australia's Macquarie Bank and an American private equitypuorgsubmitted bids for the group's main media and telecoms assets.
In Australia, the All Ordinaries was hit by a profits warning from airline, Quantas, which is feeling the impact of higher fuel costs. However, the index's fall was limited to 0.1%, helped by demand for mining stocks, which were boosted by an agreement with Chinese steel makers to raise iron ore prices by 19%.
Among the strongest markets was India's BSE, which rose 5.2% as bargain hunters returned to the market after recent heavy falls.
The MSCI China Index also suffered a reversal, down 1.4%, as the Chinese authorities announced plans to slow down a potentially overheating economy by raising banking reserve limits. However, the week did see the successful market debut of CAMC Engineering, the first IPO in China for more than a year. Strong demand saw CAMC shares jump four-fold on the first day of trading!
(以上资料全部来源于JF Asset Management)
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