Asia stocks lackluster as China rate effect fades
Source: AP-Excite
By YOUKYUNG LEE
SEOUL, South Korea (AP) — Asian stocks mostly fell Tuesday as the boost from China's surprise interest rate cuts faded while European markets were higher as investors awaited economic data.
KEEPING SCORE: France's CAC 40 was up 0.3 percent at 4,380.70 and Germany's DAX rose 0.8 percent to 9,858.78. Britain's FTSE 100 added 0.1 percent to 6,736.36. Futures augured gains on Wall Street. Dow futures were up 0.1 percent at 17,816 and S&P 500 futures gained 0.1 percent to 2,070.
ECONOMY REPORTS: The U.S. Commerce Department is scheduled to release its second of three estimates of how fast the U.S. economy grew in the July-September quarter. The first estimate showed that the economy expanded at an annual rate of 3.5 percent, outpacing most other developed countries. Some analysts believed the estimate will be slightly lowered. Germany, the largest economy in the euro common currency area, will likely confirm its growth figure at 0.1 percent growth from the previous quarter.
ASIA'S DAY: Australia's S&P/ASX 200 fell 0.5 percent to 5,334.80 and Hong Kong's Hang Seng lost 0.2 percent to 23,843.91. Most Southeast Asian stock markets were lower but Japan's Nikkei 225 gained 0.3 percent to 17,407.62 and South Korea's Kospi inched up 0.1 percent 1,980.21.
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A man shelters from the rain in front of an electronic stock price indicator in Tokyo, Tuesday, Nov. 25, 2014. Asian stocks mostly fell Tuesday as the boost from China's surprise interest rate cuts faded and investors awaited U.S. economic data and an OPEC meeting. Japan's Nikkei 225 closed at 17,407.62 Tuesday. (AP Photo/Shizuo Kambayashi)
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