"The MSCI Asia Pacific Index slipped 0.8 percent by 10:01 a.m. in Tokyo, as Japan’s Topix index sank 1.8 percent. Standard & Poor’s 500 Indexfutures fell 0.1 percent after a selloff in Internet stocks sent the gauge down 0.9 percent in the U.S. The yen held yesterday’s 0.5 percent jump as the Korean won and Malaysian ringgit climbed. New Zealand’s dollar fell after the central bank detailed conditions for intervention. Nickel rose and gold advanced as oil in New York added 0.4 percent".
Services data for China is due today, with Hong Kongalso resuming equities trading after a holiday yesterday.Twitter Inc. (TWTR) slid 18 percent in the U.S. as insider shares became eligible for sale, pushing an exchange-traded fund of social-media stocks to the lowest level since July. Alibaba Group Holding Ltd. filed for what could be a record U.S. initial public offering after markets closed. Federal Reserve Chair Janet Yellen addresses Congress on the U.S. economy today.
“Investors need to remain cautious,” Matthew Sherwood, Sydney-based head of investment markets research at Perpetual Ltd., which manages about $29 billion, said in an e-mail. “They have decided to take some profits in the wake of recent upbeat sentiment.”
Asian Stocks
Australia’s S&P/ASX 200 Index (AS51) lost 0.6 percent, led by a 1.6 percent drop in information-technology companies, while New Zealand’s NZX 50 Index (NZSE50FG), which hit a record last week, fell 0.3 percent in a third declining day. The Kospi index in South Korea, where markets have also been closed for the past two days, retreated 0.2 percent.
All 10 industry sub-groups in the MSCI Asia Pacific gauge fell at least 0.1 percent today, with health care, industrial and consumer-discretionary stocks leading declines. Technology shares decreased 0.7 percent.
The Nasdaq Composite Index (CCMP) sank 1.4 percent in the U.S., while technology, consumer-discretionary and financial stocks drove the S&P 500’s biggest one-day drop since April 11. Twitter sank to $31.85, extending its 2014 loss to 50 percent, as about 480 million shares from insiders became eligible for sale, more than quadrupling the amount available for trading.
Services data for China is due today, with Hong Kongalso resuming equities trading after a holiday yesterday.Twitter Inc. (TWTR) slid 18 percent in the U.S. as insider shares became eligible for sale, pushing an exchange-traded fund of social-media stocks to the lowest level since July. Alibaba Group Holding Ltd. filed for what could be a record U.S. initial public offering after markets closed. Federal Reserve Chair Janet Yellen addresses Congress on the U.S. economy today.
Source: Bloommberg
