Quo Vadis Dax 2009

14.12.2009 03:13
HK shares to open down 1.2 pct; HSBC falls

HONG KONG, Dec 14 (Reuters) - Hong Kong shares are set to

open 1.2 percent lower on Monday as investors take profits after

a strong rally in the previous session amid concerns that funds

are moving out of local equities on gains in the U.S. dollar.

HSBC led losses on the index, falling 2.2 percent

to HK$88.20.

The benchmark Hang Seng Index was set to open down

263.14 points, at 21,638.97.

The China Enterprises Index of top locally listed

mainland Chinese stocks was set to fall 1.33 percent to

12,794.67.

(US$1=HK$7.75)

(Reporting by Sui-Lee Wee, Editing by Jonathan Hopfner)

((suilee.wee@thomsonreuters.com; +852 2843 6314; Reuters

Messaging: suilee.wee.reuters.com@reuters.net))

Nikkei falls as yen gains; JAL and ANA rise

TOKYO, Dec 14 (Reuters) - Japan's Nikkei stock average lost 0.8 percent on Monday, with exporters such as Toyota Motor Corp falling as the yen erased earlier losses to rise against the dollar.

Japan Airlines Corp gained 2.1 percent and rival All Nippon Airways also rose after the United States and Japan reached a landmark aviation agreement, a deal that eases barriers to passenger and cargo services and opens up the possibility for stronger alliances.

Japanese business morale edged up further from a record low hit earlier this year but remained negative for the sixth quarter in a row, a Bank of Japan survey showed, as the economy slowly recovers from its worst recession in six decades, but market players shrugged it off.

'The tankan wasn't really a factor -- fundamentally, the market earlier today was responding to the weaker yen,' said Hiroaki Osakabe, a fund manager at Chibagin Asset Management.

'But some profit-taking's emerged after the Nikkei shot up last Friday, and there's also some speculative selling of futures amid generally light trade.'

The greenback fell 0.2 against the yen to 88.61 yen, off earlier highs hit after U.S. retail sales posted the largest advance since August last month while consumer sentiment improved sharply in December, sparking speculation that the U.S. Federal Reserve may start tightening faster than many had thought.

The benchmark Nikkei, which see-sawed between positive and negative territory, lost 76.99 points to 10,030.88 by the midday break. The broader Topix fell 1 percent to 879.84.