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Asian Stocks Fall and Japanese Stocks Tumble With Rise of Yen.

Asian stocks fell on Friday in last week's sessions, led by the technology sector after the Google and Microsoft announced earnings below expectations. While Japanese stocks tumbled with the rise of the yen ahead of a general election next Sunday. MSCI index of Asian shares dropped 0.3 percent to 134.98 points by at 12:51 in Tokyo, with decrease of the most technology companies. Futures for the S & P 500 fell 0.2 percent after the stock gauge rose 0.5 percent in New York.

It was noted declines most of the tech sector companies after it announced yesterday giants Google and Microsoft profit was lower than expected. Worse than that, there is additional concern because of lower sales expectations of estimates for Taiwan companies to manufacture semiconductors and for the giant company Intel. The yen rose and Japanese stocks fell heavily ahead of Senate elections on Sunday after Japanese.

Nikkei fell from the highest level in the eighth weeks with increasing profit-taking and liquidation centers of large hedge funds. Victory for the ruling party led by Prime Minister Shinzo Abe in the Senate elections will ensure boosting his chances of further implementation of policies such as those that have helped to weaken the yen 14 percent against the dollar in 2013. This as the finance ministers of the Group of 20 countries begin meeting for two days starting today in Moscow.

It was a decline of the benchmark Nikkei index of major Japanese stocks 1.40% to 14,601.58 points, while the well-known TOPIX index fell 0.89% to 1,211.13 points. Australia's hostel Index S & P / ASX 200 decreased 0.40% to 4,973.70 points. In China SHSZ300 index fell by 0.12% to 2,242.62 points, and SHCOMP Index increased by 0.17% to 2,026.74 points. And Hang Seng Index rose by 0.08% to 21,362.27 points, and in South Korea KOSPI index rose 0.48% to 1,876.86 points.

Friday, 19 Jul, 2013 / 7:17