Asian Markets Overview of April 8, 2010: Osaka Gas(TYO:9532) Currently Not Seeking CBM LNG Long-Term Contracts
Overnight US stocks broadly declined after new figures from the Federal Reserve showed that consumer credit dropped unexpectedly in February. The sharp plunge in consumer credit was an indication that households are still in a cautious frame of mind despite U.S. economic recovery. Asian markets opened lower this morning following the drops in Wall Street. But Wednesday most Asian stocks gained, helped by stronger oil prices and upbeat corporate earnings. Hong Kong's Hang Seng surged 1.8 per cent, while China's Shanghai Composite fell 0.3 per cent as real estate shares were hurt by fears of further measures to cool the property market. Japan's Nikkei 225 posted a 0.1 per cent rise and South Korea's Kospi Composite finished nearly unchanged.