Decline of Asian Stocks as Won, Kiwi Drop on U.S. rating Outlook

April 18, 2011, 11: 15 am EDT by Shiyin Chen and Anna Kitanaka

April 19 (Bloomberg)--Asian stocks fell, sending the benchmark in the region to its largest loss in five weeks, while the South Korea won and the New Zealand dollar has led to a decline of higher yield currencies after Standard & Poor's credit Outlook cut on the United States to negative.

The MSCI Asia Pacific Index dragged 1.4 percent to 133.77 11: 45 am in Tokyo. Future on the S & P 500 Index dropped by 0.5%. The won weakened from 0.5% to 1,093.30 every dollar, while the so-called kiwi dropped by 0.6% to 78.61 U.S. cents. The yen climbed against the 16 most actively traded counterparts. Japanese Government bond futures rose for a fifth day, then that recovered copper a drop of six days.Japanese exporters led to losses, extending to a global slump in stock markets, after S & P to the Government of the United States notice that it risks losing its AAA credit rating, unless decision makers to agree on a plan in 2013 to reduce budget deficits and national debt. "In Europe, an economic report today can display manufacturing slowed growth, as concern that the worsening of the debt crisis the region sent Greek and Portuguese bond yields surging.""If we get to a point where the United States has its debt downgraded, the deflationary effects will be felt in the world," said Tim Schroeders, that allows to manage about 1 billion dollars to Pengana Capital Ltd. in Melbourne. "A lot of credit is a price excluding U.S. denominated debt and these effects will be felt around the world."Approximately eight shares fell to everyone who has acquired Asia Pacific Index of MSCI, which has been set for its steepest loss since March 15. Nikkei 225 Stock average of the Japan fell 1.5%, with Toyota Motor Corp. in decline of 2.8%.Chip EarningsInpex Corp. fell by 2.2 per cent while BHP Billiton Ltd. sank at 1.8% after a decline in prices yesterday. Newcrest Mining Ltd. slipped 1.3% after the largest gold mines in the Australia company reduce its production for a second time.LG Display Co. jumped 5.1 per cent after the second - largest manufacturer of flat world reported a loss that is smaller than analysts estimates. Advantest Corp. and Elpida Memory Inc. has decreased more than 4.3% each, stimulation of losses among connected after the computer chip companies as Texas Instruments Inc. forecast revenue in the second quarter and profit which did not estimates of some analysts.Texas Instruments has decreased in trade extended after the largest manufacturer of analog-chip forecast of profit in the current quarter will be 52 cents to 60 cents a share on sales of 3.41 to 3.69 billion. Which is comparable to the estimate of the average analyst 63 cents to profit on 3.53 billion in sales, a Bloomberg survey. Goldman Sachs Group Inc. and Johnson & Johnson are among the companies expected to release quarterly results today.U.S. OutlookThe S & P 500 dropped 1.1% yesterday, its steepest since March 16 loss, as S & P, has said there is a chance of one in three U.S. rating could be cut in two years and that his "basic premise" is that Congress and the administration of Obama will come to terms on a plan to reduce Records.Rendements deficits over 10 years treasuries were little changed at 3.37% after having declined yesterday the three basis points. Noda of Yoshihiko for the Minister of Finance of the said Japan U.S. debt continues to be an "attractive investment", and economic and fiscal policy Minister Kaoru Yosano said that Treasury would still "titles of very good quality" even if the rank was lowered.Performance of 10 years to the point of reference of the Japan fell to a point of basic-1.235%, while the future of the obligation of 10 years for June delivery gained 0.17 to 139.53 on the Tokyo Stock Exchangewhich extends from their series of victories in the longest eight months. "Fearing" market "really sums up how much time the market may remain fearful on Europe and the United States," said Adam Carr, a senior economist in Sydney in Australia Ltd., a unit of brokers broker ICAP largest in the world. "" " Risk aversion generally assumes a repatriation of funds into yen. "The Philippine peso dragged 0.3 per cent to 43.355 by dollar and Taiwan dollar weakened from 0.2% to NT$ 29.156. The Australian dollar declined from $1.0485 of $1.0509 yesterday.The yen traded at 82.54 82.66 dollar in New York yesterday, when he moved to 82.19, the highest since March 29. Currency of the Japan was a euro 117.66 117.33. The dollar bought $1.4215 a 1.4235.The euro $ purchase index of managers for the manufacture of the Euroregion dropped to 57.0 in April of 57.5 in March, according to the median estimate of economists in a survey of Bloomberg News before data due today. Readings above 50 indicate expansion.Greek CrisisYields over two years the Greek notes climbed above 20 percent yesterday and swaps of credit - default signal a chance to 64.5% of default within five years, while the representatives of the nation, said the restructuring is not being discussed. Portuguese yields two and 10 years also reached the euro-ère records.Gold for immediate delivery traded at $1,491.30 an ounce. Bullion reached a record level of $1,497.90 yesterday. Copper for the delivery of three month won 0.6% to $9,279 per metric tonne on the London Metal Exchange, halting a slump of 6.6 per cent of six days. Wheat gained 0.6% to $8.1550 a bushel, which extends from the wave of 3.9% yesterday, as conditions of winter crops, to the United States the largest exporter, has deteriorated.Oil for may delivery slipped 0.4% to $106.75 US per barrel on the New York Mercantile Exchange, after the fall of 2.3% of yesterday.

-With the help of Candice Zachariahs Sydney, Yoshiaki Nohara in Tokyo and Masaki Kondo, Ron Harui and Wes Goodman at Singapore. Editor: James Poole

To contact the reporters on this story: Shiyin Chen at Singapore at schen37@bloomberg.net. Anna Kitanaka in Tokyo, at akitanaka@bloomberg.net.

To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

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China's local currency debt rating can be reduced by Fitch

April 12, 2011, 10: 24 pm EDT by JoAnne Norton and Mark Deen

(Updates with the marking of currencies in the second paragraph).

April 13 (Bloomberg) - local currency credit rating of China to Fitch Ratings cut on the concern that increase the indebtedness of companies and the household is a risk to public finance.Long-term Outlook default currency rating local transmitter China has been lowered to "negative" from "stable", Fitch said yesterday. The rating is currently AA-, he said. The long-term foreign currency rating is A + with a stable Outlook.China, major economy of the more rapid growth of the world with approximately 2.8 trillion of foreign currency reserves, has raised interest rates four times since October to fight inflation. Last month, Prime Minister Wen Jiabao said that "exorbitant" home-price increases are main concerns as China seeks to rely more on the inside that requires foreign engine of economic growth.The negative Outlook reflected concerns about the scale of the passive sovereigns, "especially in the context of the increase in the assessments of real estate and inflation", Andrew Colquhoun, sovereign head of the Asia-Pacific of Fitch, said in the statement. "Fitch expects that sovereign support for the banking system will be necessary.".Loans to companies and households in China rose to about 140% of gross domestic product last year of 111% in 2008, Fitch said. The increase is linked to property lending and financing of local government, he said.Concerns of loan "concerns about the quality of a large part of this loan are compounded by the rapid increase of new channels of off-balance sheet of credit, the disclosure of which is extremely poor," the rating company said.Wen, during a visit of Eastern China's Zhejiang province, called on Governments to take responsibility for keeping of affordable housing and the stabilizing said consumer price is the highest priority, according to a statement on the website of the Government April 9 makers raised the minimum fund development for secondary residences buys this year that the Government has focused on measures to speculators, which mainly target houses in major cities. Shanghai and Chongqing imposed of taxes on residential properties and cities including Beijing and Guangzhou has imposed restrictions on housing purchases.

-Editors: Jeffrey Donovan, Paul Panckhurst.

To contact the editor responsible for this story: JoAnne Norton at jnorton@bloomberg.net; Mark Deen in Paris at the markdeen@bloomberg.net

To contact the editor responsible for this story: Craig cstirling1@bloomberg.net Stirling.

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Profile: Rating of ivory's captured ex-leader Laurent Gbagbo - Xinhua

(NAIROBI, April 11, Xinhua)-, Laurent Gbagbo of Cote d'Ivoire was captured Monday in a military aggression conducted by the French at his residence in Abidjan, putting an end to the political impasse over long months in the West African country. Here is a profile of Gbagbo.

Gbagbo was born on 31 May 1945 in the village of Mama at Gagnoa - in the Centre West of C?te d'Ivoire. He obtained a PhD at the Paris Diderot University in 1979.

He joined the strike of teachers in 1982 and the same year, exiled in France.

Gbagbo returned to C?te d'Ivoire in 1988 and later was elected General Secretary of the new party political coast of ivory Popular Front (FPI).

In 1990, Gbagbo participated in the first presidential election since the introduction of a multi-party system, but did not win the seat. He was elected to the National Assembly in the same year and served as member of Parliament until 1996, when he was elected Chairman of FPI.

In the 2000 presidential election, Gbagbo replaced then leader Robert GUEI. In October of this year, he was sworn as President of C?te d'Ivoire.

In 2002, an attempt of a coup against the Gbagbo Government in breach has resulted in the split of the country in the North controlled by the rebels and Government-held South and it triggered civil war in 2002-2003.

In 2008, Gbagbo was designated as the flagship of the FPI in the presidential election scheduled for November this year, but the poll has been postponed to 2010.

The landmark election, the other since the civil war, took place in 2010 with Gbagbo and his rival, opposition leader and former Prime Minister Alassane Ouattara in the second round of voting.

After the runoff held 28 November 2010, Ouattara was declared winner by the electoral body, but the result was quashed by the Constitutional Council of the country, which is rather to win Gbagbo.

Although the international community, including the Organization of the United Nations, the African Union, the economic community of the States of Africa in the West and the European Union have all recognized Ouattara as elected President of the country, Gbagbo challenged pressure and refused to resign.

Both Gbagbo and Ouattara themselves sworn in as President and established their respective Government, led by a Prime Minister.

The political stalemate developed in fighting between supporters and the choirs of other forces while hundreds of people have lost their lives in the violence.

in April 2011, the les forces forces the Ouattara, supported by the missions of the UN and French troops in Ivory Coast, seized most of the country including the capital, Yamoussoukro and the main city of Abidjan. April 11, Gbagbo was captured in a military assault after days of heavy fighting in Abidjan.

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Rise of energy companies, to the Japan builders motor slide as Citi cuts rating

April 10, 2011, 11: 04 am EDT by Akiko Ikeda and Toshiro Hasegawa

11 April (Bloomberg)--Japanese stocks oscillés between gains and losses that Tokyo Electric Power Co. surged for a second day and automakers fell after Citigroup Inc. downgraded the country's automotive sector.

Asia largest utility, Tokyo Electric, rebounded after sliding close to 80 percent since March 11, earthquake and tsunami that paralyzed its nuclear reactors at Fukushima. Kansai Electric Power Co. increased by 1.4% after the utility has agreed to buy two Australia coal-fired power plants. Toyota Motor Corp., manufacturer of no. 1 in the world, lost of 2.1%.The Topix index was unchanged at 853.1 11 hours break in Tokyo trade, with about twice as many stocks advancing as recedes. The average Stock Nikkei 225 dragged 0.3 per cent to 9,736.07. "One month has elapsed since the disaster and investors are beginning to see more clearly the impact on the economy and corporate profits, said Kenji Sekiguchi, General Manager at Mitsubishi UFJ Asset Management Co., which oversees about $ 75 billion. "Speculators are buying shares Tepco.".Futures index Standard & Poor of 500 increased from 0.2% today. In New York, the index fell 0.4% to 1,328.17 April 8 rally of oil at a 30 month high led transport shares and investors speculated that a struggle in the Congress of the United States on the federal budget may close the Government for the first time since 1996 .magnitude-9 EarthquakeThe Nikkei 225 dropped a 6.4% through April 8 since March 10, a day before an earthquake of magnitude 9 record and tsunami struck on the Japan. Stocks in the benchmark Japanese are evaluated to 14.6 times estimated earnings averaged 13.7 times for the S & P 500 and 11.4 times for the 1600 Stoxx Tokyo Electric climbed 13 percent Yen 475, the second - largest gain in the Nikkei 225. Kansai Electric increased 1.4 percent Yen 1.841, after the company and Sumitomo Corp. has agreed to buy two Griffin energy central coal in Australia .mining of Western companies and energy acquired the most on the Topix index. Inpex Corp., Explorer of the Japan greater energy, rose by 2.2 per cent to 649,000 yen. Japan Petroleum Exploration Co., the second biggest oil driller, advanced 2.1% at 4,170 yen.Crude oil for may delivery rose by 2.3% to $112.79 US per barrel in New York on 8 April, the highest settlement since September 22, 2008. Oil advanced for a fourth day as the North Atlantic Treaty Organization has intensified its air campaign on the Libya and the desire disorders may extend to other exporting countries of energy in the medium DeclineCarmakers East.Carmakers had the fall the most among the 33 industry groups in the Topix. Toyota lost 2.1% 3 270 yen. Honda Motor Co. has sunk 2.1% to 2,908 yen, while Nissan Motor Co. fell by 1.8% to Citigroup as Noriyuki Matsushima 701.Analyste yen cut its rating on the companies "sell" from "buy" Japan auto and reduced the price of the action of the estimates on automakers. Matsushima said total losses in the sector of operation may be the largest ever after the earthquake of last month disrupted the supply of parts and electricity limited to plants.Sharp Corp., an electronics manufacturer, fell 1.2% 768 yen after the company suspended the production of two factories of the liquid crystal display after the earthquake caused a shortage of gas used to run equipment.Companies usually reduce output rather than halting production, pure and simple, so the decision was a "surprise", Takashi Watanabe, an analyst at Goldman Sachs Group Inc. wrote in a report dated today.

-Editors: Jason Clenfield, John McCluskey.

To contact the reporters on this story: Akiko Ikeda in Tokyo at the iakiko@bloomberg.net; Toshiro Hasegawa in Tokyo at the thasegawa6@bloomberg.net.

To contact the responsible editor of the story: Nick Gentle at ngentle2@bloomberg.net.

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