BANGKOK - renewed concerns about Europe's debt, falling oil prices and U.S. technology company disorders weighed on Asian markets stock Tuesday.
The price of oil fell to $ 97 a barrel, which extends a two weeks out in the concern of investor that the slowdown in us economic growth could undermine demand for crude oil. The dollar strengthened against the euro and the yen.
Nikkei 225 of the Japan was flat at 9,560.65, with exporters rising on a weakening yen. Sharp Corp. has increased by 2.2%, Sony was 1.1 per cent higher and Hitachi Ltd. was acquired by 0.4%. Actions included subsidence utility which may have to intervene to help the Tokyo Electric Power Co. to deal with financial losses after a tsunami March 11 which destroyed one of nuclear power plants of the company.
TEPCO struggled for two months make a leak of radiation of the Fukushima Dai-ichi crippled plant northeast of the Japan under control.
Overall damages should be tens of billions of dollars (billions of Yen billion). Kansai Electric Power Co. lost 4.1%. CHUBU Electric Power Co. Inc., who has made a request of the Government to close down a nuclear power regarded as vulnerable to tsunamis, dropped by 5.7%.
TEPCO dragged 10.7 per cent. Investors dumped TEPCO shares after Investors Service of Moody Monday cut its credit rating on troubled society utility one notch to just above junk status.
The end stocks have become less attractive to many investors, account required to the scarcity of the good economic news. Sean Darby, Chief Asian strategist at Nomura in Hong Kong, said traders expect shares to bottom.
"I think that people are really waiting for markets to withdraw," said Darby. "We had a very good performance in the course of the last quarter".
Hong Kong Hang Seng index was 0.1% lower than 22,935.84. Index of the Korea of southern ABN, flat to 2,103.57 shares of high-tech after their US counterparts down.
Hynix Semiconductor Inc. fell 2.5 percent and rival LG Electronics sliding 0.4%. In the United States, technology companies have been among the biggest losers Monday, with Yahoo! Inc. and Amazon.com Inc., fall of more than 4%.
S & P/ASX 200 gained Australia 0.7 per cent to 4,682.70. Landmarks in mainland China, Taiwan and New Zealand were also higher. Markets in Singapore, the Thailand and the Malaysia were closed for a holiday.
In New York Monday, problems of society and technology concerns renewed on Europe debt drag stocks lower, European day of Finance Ministers approved 110 billion dollars in rescue loans to the Portugal. They have not yet decided on a second rescue of the Greece plan.
The arrest of the head of the Monetary Fund International should resolve more difficult problems of the Greece. The official, Dominique Strauss-Kahn, France, had been very involved in the attempt to resolve debt crises in the Portugal and Greece. He is detained without bail on charges of sexually assaulting an employee of the hotel in the city of New York.
The Dow Jones index lost 0.4% to close at 12,548.37. The standard & poor 500 index fell by 0.6% to 1,329.47. The Nasdaq fell by 1.6% to 2,782.31.
Investors were waiting for some major economic reports to Washington, including the Tuesday release of housing starts and industrial production for April, to measure the health of the US economy.
Benchmark crude for June delivery fell 30 cents to $97.07 US per barrel in electronic trade on the New York Mercantile Exchange. The contract fell $2.28 to settle at $97.37 Monday
In currencies, the euro weakened to $1.4170 by $1.4192 Monday afternoon in New York. The dollar gained to 81.18 yen 80,84 yen.
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