ASIAN STOCK MARKETS GROWING, SHANGHAI CONCERNS ABOUT THE HIGH COST OF FUNDING
Gold led the commodities loss on a day as the dollar strengthened for the sixth consecutive day on the announcement of positive US data. Most Asian stocks remain on the rise, while Shanghai has suffered a setback. The MSCI Asia Pacific index rose 0,4%, while the Shanghai Composite contracted 1,2%, taking its six-day losses to 11% and reaching the lowest levels since January 2009.
News from America shows durable goods bookings rose in May and home prices, new home sales and consumer confidence beat economists' expectations, a week after the Fed said an improvement economic conditions would have led to a reduction in monetary stimulus. The Shanghai market fell after the central bank's announced pledge to stabilize money markets failed to allay concerns that high borrowing costs could hit economic growth.
In Asian markets overall, about five stocks were up for every three down. Leading the rally were financial firms and materials producers. In contrast, healthcare. Among the featured indices, Australia's S&P/ASX rose 1,2% and the Hang Seng China Enterprises rose 1,6% in Hong Kong, recovering from its lowest since October 2011.
http://www.bloomberg.com/news/print/2013-06-26/asian-stocks-gain-on-u-s-economy-as-oil-slips-won-rises.html
