Most Asian stock markets fell on Friday on fears of worsening corporate profits, as LG Display expects lower prices for its products, including LCD screens, and reporting Goldman Sachs and Citigroup has disappointed some investors, reported Bloomberg.
composite index of Asia-Pacific region MSCI Asia Pacific fell 0.7% in opening trades - up 119.66 points. Growth of the indicator since the beginning of the week is 0,8%. C of the March wage index gained 70%.
Japanese Nikkei 225 index dropped to 0.09%, Australia SP /ASX 200 - 0,5%. Hong Kong Hang Seng added 0.1% after the rapid growth of the market value of Chinese oil companies caused by rising oil prices.
Investors are hesitant to enter the market because of doubts about the justification of current quotes, but the steady growth of profits can increase their confidence, - said the representative of ABN Amro Private Banking Daphne Roth.
results of the South Korean LG Display, the second largest producer of LCD screens in the world, for the third quarter were worse than analysts' forecasts. The company's shares fell 4.4%.
price of securities of the largest Japanese bank by market capitalization value of Mitsubishi UFJ Financial Group Inc. fell by 3,5%. Sumitomo Mitsui Financial Group Inc. reduced the capitalization of 2,5%.
Cost securities
leading Japanese brokerage Nomura Holdings fell by 1,1%.
a drop in prices in the financial sector caused by weaker-than-expected financial results of the largest banks in the U.S. for the third quarter.
Net profit Goldman Sachs in the third finkvartale totaled $ 3.19 billion, or $ 5.25 per share, the proceeds - $ 12.37 billion analysts predicted on average at a level of $ 4.18 per share and $ 10.98 billion
Citigroup received a net profit of $ 101 million for the third quarter of 2009, but the per share recorded a net loss of 27 cents. During the third quarter, Citigroup completed the previously announced exchange of shares. This enabled him to record after-tax income of $ 851 million, but reduced the amount payable to holders of ordinary shares for $ 3.1 billion in this regard on the basis of the quarter the Bank recorded a net loss per share.
Share prices of Australian retailer Harvey Norman have fallen by 6,7%, as its revenue growth was slower than that of a rival company, JP Hi-Fi Ltd.
Rate Securities Japan Airlines fell 11% after a Japanese newspaper reported that the company may refuse to sell JALways Co.
Chinese oil concern PetroChina, the second largest company in the world market capitalization, added to the bid opening 1%, as oil prices went up by 3,2% - to $ 77.58 a barrel on Thursday in New York. The cost of securities of the Japanese Inpex Corp. increased by 1,5%.
Asian session demonstrates the dynamics of differently directed
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