JAPAN/TAIWAN: Stocks in Taiwan and Tokyo lose steam at market close, as Federal Reserve Chairman Ben Bernanke put the brakes on a recent rally by curbing optimism about the strength of the U.S. economic recovery

Record ID: 466115

  • Title: JAPAN/TAIWAN: Stocks in Taiwan and Tokyo lose steam at market close, as Federal Reserve Chairman Ben Bernanke put the brakes on a recent rally by curbing optimism about the strength of the U.S. economic recovery
  • Date: 2nd March 2012
  • Summary: TAIPEI, TAIWAN (MARCH 1, 2012) (REUTERS) INVESTORS IN SECURITIES FIRM INVESTOR SITTING IN FRONT OF WALL OF MONITORS INVESTOR READING NEWSPAPER INVESTOR LOOKING ON
  • Embargoed: 17th March 2012 12:00
  • Keywords:
  • Location: Taiwan, Province of China, Japan
  • City:
  • Country: Taiwan
  • Topics: Economy
  • Reuters ID: LVA69FH79PFUKU41YC77QQ7OP5HY
  • Story Text: Asian shares ended flat on Thursday (March 1) as Federal Reserve Chairman Ben Bernanke put the brakes on a recent rally by curbing optimism about the strength of the U.S. economic recovery, but without signalling any further monetary easing to stimulate growth.
    Chinese official and private-sector factory data also reminded investors of the fragile state of the global economy.
    Taiwan stocks ended flat after almost a seven-month closing high in the previous session, with losses in oil counters and banking shares offsetting gains in car makers and transport.
    The main TAIEX index fell 3.1 points, or 0.04 percent, to 8,118.34, after opening flat.
    Japan's Nikkei average fell on Thursday and failed to hold 98,00 for the second day in a row, as domestic investors locked in profits after the index rallied more than 10 percent last month and posted its best February performance in two decades.
    The Nikkei closed 0.2 percent lower at 9,707.37 after trading as high as 9,865.75 in the morning session.
    The index also failed to retain its gains above the key 9,800 on Wednesday (February 29).
    The Nikkei suffered its worst intraday volatility in three months on Thursday, with a near 200-point swing from high to low. That compared with an average of 110 points daily swings in February.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2012. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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