Profitbursier - ASIAN MARKET REPORT Thursday July 14 2011

· Japanese and Australian stocks dropped Thursday as Moody’s Investors Service’s will likely downgrade U.S. credit ratings, giving pressure on financial stocks and some exporters.

· Chinese bank stocks are predicted to extend drop as overseas investors restrain risks.

· Hong Kong stocks declined in choppy trading early Thursday as Chinese banks and property developers mostly dropped after Moody's alerted of a possible ratings downgrade of the U.S.

Forex Market

· The dollar halted yesterday’s loss against the euro after Moody’s Investors Service put the U.S. under review for a credit rating downgrade

· South Korea’s won edged up to its strongest level in almost three years after Moody’s Investors Service put the U.S. debt rating on review for possible downgrade, cutting demand for dollars.

· New Zealand’s dollar soared to a record after a government report revealed the economy advanced at a faster stride than central bank had forecast.

Commodity Market

· Gold futures went higher into fresh record territory during electronic trading in Asian hours Thursday, sustained by a weaker dollar, as investors’ debt worries moved to the U.S.

· Oil traded near four-day high as U.S. supply drop shifted debt concern.

Bond and Yields

· Greek two-year notes declined, bringing up yields on the securities by 207 basis points to 32.11 percent.

See full report here>>>

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