Most Asian stocks fall led by metal prices drop

Wandrik Panca Adiguna
Wandrik Panca Adiguna - 24 Desember 2010  |  02:22 WIB

JAKARTA: The majority of index stocks on Asian stocks were opened down as triggered by the weakening of metal prices and the depreciation of US dollar against the yen.

Nikkei 225 stock average fell 0.69% to 10,275.44 this morning, while Topix Index was also corrected 0.52% to 900.94.The weakening of stock prices on Japanese stock exchange was triggered by the decline of local prices and the weakening of US dollar against the yen, which is feared could hamper the profits gain from the exports.The stock price of Nissan Motor Co., automaker producer that gained 75% of its profit from overseas, has declined 1%. Canon Inc, maker of digital camera that obtained 80% of its profit from exports, was weakened 0.9%, while Mitsubishi Material Corp, the third biggest chopper producers, was corrected 0.8%."Yen appreciation seemed to make the investors to dispose its stocks in order to realize a profit," said Juichi Wako, senior strategist at Nomura Holdings Inc., Tokyo.Taipeis Taiex index slightly decreased 0.03% to 8,895.99. South Koreans Kospi index was also declined 0.05% to 2,036.63, while Singapore's Straits Times rose 0.17% to 3,143.04. (t06/wiw)

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