Asian stocks down juny 6 2012

Asian stocks down juny 6 2012 : Asian stocks dipped lower early Friday, and the euro sank overnight, as interest-rate cuts in Europe and China led investors to fret that policy makers are becoming even gloomier about their economies.

The People's Bank of China cut borrowing costs for the second time in less than a month, a response to the country's worst slowdown since the global financial crisis. The central bank reduced the one-year yuan lending rate by 0.31 percentage point, effective Friday, to help kickstart borrowing.

Unlike China, where the timing of the rate cut came as a surprise, the European Central Bank's move to lower borrowing costs was widely anticipated by the market, and the small movements in share prices early Friday suggests it was already priced in.

The European rate cut was bad news for the euro though. At $1.2390 early Friday, the single currency was steady after a 1.1% overnight fall that pushed it down to the lowest level late in New York since the end of May.

The next data point that investors are looking to is employment data from the U.S., out later Friday. Data on private-sector job growth in the U.S. topped estimates, which came out Thursday, increasing hopes that the closely watched U.S. nonfarm payrolls figures will also be strong.

There are some fears, however, that if hiring has picked up, the Federal Reserve will be less likely to introduce new stimulus measures when it meets later in the month.

Japan's Nikkei was flat and Australia's S&P ASX 200 was 0.3% lower.

South Korea edged back down 0.2%, as the index was weighed by its largest constituent, Samsung Electronics . The Korean conglomerate dropped 0.8% after its earnings guidance for the second quarter disappointed investors.

For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post:

Asian Stocks Market

• China, Asian stock markets outlook 2013
• Asian stock market opened january 17 2013
• asian stock market january 9 2013
• Asian stock markets are expected january 7-11 2013
• Asian stock markets Japan Nikkei rose dec 26 2012
• Why Asian stocks market down 14 2012
• why Asian stock markets down november 13 2012
• Asian stock markets october 29 2012
• Asian stock markets october 11 2012
• Asian stock markets october 3 2012
• Asian stock market october 1 2012
• Asian stock market rose september 28 2012
• asian stock market drops 9/27/2012
• How will Asian stock market september 27 2012
• Asian stock markets Nikkei down 26/9/2012
• Asian stock markets for september 26 2012
• Asian stock markets 25/9/2012
• Asian stock markets september 24 2012
• Asian stock market september 21 2012
• Asian stock markets september 20 2012
• Asian stock markets september 12 2012
• Asian stock market down september 11 2012
• Asian stock markets september 10 2012
• Asian stock markets september 2012
• Asian stock market down september 6 2012