Market Report – E.U. Woes Hurt Stocks

In today’s market report… concerns about Europe’s debt crises continued to weigh on Asian investors, despite earlier gains on Wall Street.

Japan’s benchmark Nikkei average fell to a 6-month low over concerns that the global recovery was losing steam.

Honda Motor stocks plummeted more than 3 percent after a new strike broke out at its parts supplier in China.

That hobbled production at two local car plants, just days after a strike at another supplier was settled.

Across Asia, the KOSPI and Hang Seng remained flat, as investors held back over worries the euro’s decline would continue.

All eyes are now on a European Central Bank meeting, where the bank is expected to announce new steps to ease financial strains on EU countries.

On the domestic front, news that Japan’s machine orders rose more than expected in April – brought welcome news to the country’s economy.

The increase in orders suggests solid exports to Asia could prompt companies to increase capital spending – keeping Japan’s economy on course for moderate recovery.

(ohne Unterschrift)