Today German lawmakers will vote on changes to the European Financial Stability Facility (EFSF) after Slovenia and Finland gave their approval throughout this week. An approval would give the possibility for Germany to offer emergency loans to governments.
Yet investors continue to be worried about the incapability of the European leaders to contain the sovereign debt crisis and prevent its spread. Thereby markets are pricing the worst possible scenario, which is a default by Greece and a possible fall into recession by Europe.
This brought more losses within the stock markets as demand for safer assets increased. The MSCI Asia Pacific Index fell today 1.1% at 09:44 in Tokyo. Yet Hong Kong's financial markets, schools, courts and government offices are closed today as Typhoon Nesat is passing the country and now is heading towards China.
Nikkei 225
Nikkei 225 rose today by 0.99% or 85.58 points closing at 8701.23. From 225 shares, 177 advanced, 35 declined and 13 unchanged. Sectors leading the incline were the industrials that gained 25.36 points and consumer goods that gained 23.37 points.
Among the shares that advanced Fast Retailing Co Ltd topped the list by rising 1.61% closing at 13880 yen, followed by Softbank Corp which rose by 2.03% and closing at 2259 yen. And Konami Corp which rose by 5.33% and closing at 2609 yen.
Lagging shares today were KDDI Corp which fell by 2.29% closing at 555000 yen, second was Seven & I Holdings Co Ltd which fell by 2.59% closing at 2185 yen. And Nikon Corp which fell by 2.31% closing at 1815 yen.
S&P/ASX 200
The S&P/ASX 200 fell today by 0.77% or 31.20 points closing at 4008.30. From 200 companies, 52 shares ended green compared to 132 ending in red and 16 unchanged. Sectors leading the decline were basic materials that gained 17.13 points and the financials that gained 13.56 points.
Lagging shares today included Paladin Energy Ltd that retreated 10.69% closing at 1.17 Australian dollars, trailed by PanAust Ltd loosing 7.81% closing at 1.17 dollars. And Bathurst Resources Ltd that fell 7.04% closing at 0.66 Australian dollars.
Goodman Fielder Ltd inclined the most today as it rose 7.50% closing at 0.59 Australian dollars, followed by Regis Resources Ltd surging 4.45% closing at 2.58 Australian dollars, and GSL Ltd that surged by 3.68% closing at 29.87 Australian dollars.