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**Cheeniandab** · 03-29-2012, 10:28 AM

Asian Stocks Fall on U.S. Durable Goods; Oil, Kiwi Climb

Asian stocks fell for a second day as growth in U.S. durable-goods orders trailed estimates and Leighton Holdings Ltd. cut its profit forecast. Oil rose after slumping yesterday and the New Zealand dollar climbed.

The MSCI Asia Pacific Index (MXAP) slipped 0.2 percent as of 9:23 a.m. in Tokyo. Standard & Poor’s 500 Index futures were little changed and the Nikkei 225 Stock Average retreated 0.5 percent. Oil gained 0.2 percent in New York after tumbling 1.8 percent yesterday. New Zealand’s currency added 0.3 percent as a gauge of the nation’s business confidence rose to a seven-month high.

Industrial & Commercial Bank of China Ltd., PetroChina Co., Hutchison Whampoa Ltd. and Bank of China Ltd. are scheduled to report earnings today. Economic reports may show Germany’s unemployment held at the lowest in more than two decades in March and U.S. jobless claims stayed at a four-year low.

“With all good news being factored in, we are coming to a tougher period, and markets are vulnerable,” said Shane Oliver, Sydney-based head of investment strategy at AMP Capital Investors Ltd., which has almost $100 billion under management.

South Korea’s Kospi Index (KOSPI) slid 0.4 percent and Australia’s S&P/ASX 200 Index was little changed. The MSCI Asia Pacific Index has rallied 12 percent this year after tumbling 17 percent in 2011.

Leighton sank 6.2 percent. Australia’s largest construction company and German parent Hochtief AG cut profit forecasts for the 2012 fiscal year after wet weather and lower-than-expected productivity raised costs.

03-29-2012, 10:28 AM	#33
Cheeniandab Join Date Nov 2005 Posts 416 Senior Member	Asian Stocks Fall on U.S. Durable Goods; Oil, Kiwi Climb Asian stocks fell for a second day as growth in U.S. durable-goods orders trailed estimates and Leighton Holdings Ltd. cut its profit forecast. Oil rose after slumping yesterday and the New Zealand dollar climbed. The MSCI Asia Pacific Index (MXAP) slipped 0.2 percent as of 9:23 a.m. in Tokyo. Standard & Poor’s 500 Index futures were little changed and the Nikkei 225 Stock Average retreated 0.5 percent. Oil gained 0.2 percent in New York after tumbling 1.8 percent yesterday. New Zealand’s currency added 0.3 percent as a gauge of the nation’s business confidence rose to a seven-month high. Industrial & Commercial Bank of China Ltd., PetroChina Co., Hutchison Whampoa Ltd. and Bank of China Ltd. are scheduled to report earnings today. Economic reports may show Germany’s unemployment held at the lowest in more than two decades in March and U.S. jobless claims stayed at a four-year low. “With all good news being factored in, we are coming to a tougher period, and markets are vulnerable,” said Shane Oliver, Sydney-based head of investment strategy at AMP Capital Investors Ltd., which has almost $100 billion under management. South Korea’s Kospi Index (KOSPI) slid 0.4 percent and Australia’s S&P/ASX 200 Index was little changed. The MSCI Asia Pacific Index has rallied 12 percent this year after tumbling 17 percent in 2011. Leighton sank 6.2 percent. Australia’s largest construction company and German parent Hochtief AG cut profit forecasts for the 2012 fiscal year after wet weather and lower-than-expected productivity raised costs.
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