Tuesday, May 3, 2011

Reduce inventory Asian that Ben Laden euphoria wanes (AP)

HONG KONG - most Asian stock markets fell Tuesday as euphoria fades over news, on the eve of the death of terror orchestrate Osama bin Laden as investors turned their attention to the earnings and economic reports.

"Investors are more concerned with the fundamental principles that affect the stock market," said Francis Lun, a stock market commentator independent.

"The murder of Ben Laden has only a temporary effect," he added.

ABN the tempered South Korea 1.3% to 2,200.19 S & P/ASX 200 the Australia was down by 1.1% to 4,774.40. Landmarks in mainland China, Taiwan and Singapore also fell.

Shares of ANZ Banking Group Ltd., one of the lenders dominant four of the Australia, fell to 1.7 per cent after it posted an increase of 38% in the first half profit less than analysts expected.

Hong Kong Hang Seng rose 0.3% to 23,784.70. Reference the New Zealand also edged.

The Japan markets were closed for a holiday.

In New York Monday, stocks ended slightly lower despite the death of bin Laden, several reports of strong gains and acquisition of the drug industry.

The Dow Jones industrial average industrial average fell 3.18 points to close at 12,807.36. S & P 500 index fell 2.39 points, or 0.2%, to 1,361.22. The Nasdaq composite fell 9.46 points, or 0.3%, to 2,864.08.

In currencies, the greenback rose to 81.05 yen 81.25 yen. Meanwhile, the euro was lower at $1.4806 from $1.4846 late Monday in New York.

Oil of reference for February delivery fell 39 cents to 113.14 $ US per barrel in electronic trade on the New York Mercantile Exchange. The contract fell 41 cents to settle at $113.52 Monday.

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