Market Report – Asian Shares Ignore G20 Meeting

In today’s market report… Asian shares took little heart from a weekend meeting of G20 leaders, with Japanese stocks leading a number of regional benchmarks lower.

Market analysts saw little impact from the summit, where leaders agreed to take different paths to assure lasting growth and securing their financial systems.

The G20 said it would clamp down on risky bank behavior, but some regional financial stocks did gain as fears the U.S. would draft a harsh bill for the sector waned.

In Japan, the Nikkei could not rebound after its biggest loss in a month, with traders now eyeing support lines near six-month lows.

Shares of Toyota hit a 15-month trough, after recalling and temporarily halting sales of a 2010 Lexus hybrid due to a potential fuel leak problem.

In the forex market, the yen held firm in the wake of the G20, while U.S. President, Barack Obama, welcomed China’s currency move, which has seen the yuan rise 0.5% last week and find a new post-revaluation high, Monday.

Foto: NTDTV