This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Asia: China Index Remains Red

Indian shares have yet to show strength since Wednesday's 9% plunge. The BSE Sensex lost 438.41 points, or 2.4%, to 17,559.38, pulled down by financial stocks there like Icici Bank (IBN), down 1.4% to 1024.05 rupees, and HDFC Bank (HDB), which lost 1.6% to 1357.25 rupees.

The consensus was that while earnings this week in India have been strong, equity valuations are still overpriced. Only technology companies like Infosys (INFY) and Wipro (WIT) staged a comeback, both ending the day up 1% and 0.8%, at 1908 rupees and 500.55 rupees, respectively.

In Japan, the carry trade staged its biggest unwinding of the week so far, depressing exporters like Sony (SNE), Canon (CAJ) and Mitsubishi, as the yen was trading up, to 114.94 vs. the dollar in Asia trading. However, a neutral improvement in industrial output left many with the feeling the Bank of Japan would put rate hikes on hold until early next year.

The Nikkei lost 291.72 points, or 1.7%, to 16,814.37 while in Tokyo the Topix slipped 26.47, or 1.6%, to 1591.28.

The Korean Kospi fared similarly, down 34.99, or 1.8%, to 1,970 in the regional slump. In financials, Shinhan (SHG) plunged 2.9%, to 1,700 won, while Kookmin (KB) slid 1.4%, to 73,000 won. Exporters fared less worse, with automobile maker Hyundai off 0.5% to 65,000 won.

In other news, the Bank of Korea raised warning signals today that Asia's central banks, in particular China, may begin to sell Treasuries in a widespread collapse, when governor Lee Seong-tae confessed that the bank has been doing just that to stabilize its own economy in recent years.

2 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs