Asian stock market july 27 2011

Indonesia stock info - Asian stock market july 27 2011 : Asian stocks dropped, led by exporters and banks, on concern the global economic recovery will stall as a political stalemate continued over raising the U.S. debt ceiling.

Samsung Electronics Co., the South Korean consumer and industrial electronics maker which gets about 85 percent of its revenue abroad, lost 1.3 percent in Seoul. Mitsubishi UFJ Financial Group Inc., Japan’s biggest listed lender, slumped 1.7 percent. Kawasaki Kisen Kaisha Ltd., Japan’s third-largest shipping line by market value, declined 0.4 percent after the Nikkei newspaper reported the company is likely to post a loss as a stronger yen hurts profits. BHP Billiton Ltd. (BHP), Australia’s No. 1 oil producer, fell 1 percent after crude prices declined.

The MSCI Asia Pacific Index lost 0.4 percent 138.61 as of 9:26 a.m. in Tokyo. About four stocks fell for each that rose on the gauge. The measure is on course for a decline this week as U.S. lawmakers struggle to reach an agreement to raise the federal debt limit before an Aug. 2 deadline, increasing concern that the government of the world’s biggest economy may default on its debt.

Japan’s Nikkei 225 Stock Average fell 0.9 percent as the yen strengthened against the dollar, cutting the profit outlook for the nation’s exporters. South Korea’s Kospi index fell 0.6 percent while Australia’s S&P/ASX 200 Index fell 0.3 percent.

Futures on the Standard & Poor’s 500 Index fell 0.1 percent today. The index retreated 0.4 percent yesterday in New York, whipsawed by negotiations over the nation’s debt limit.

The MSCI Asia Pacific Index rose 1.1 percent this year through yesterday, compared with a gain of 5.9 percent by the S&P 500 and a drop of 2.1 percent by the Stoxx Europe 600 Index. Stocks in the Asian benchmark are valued at 13.7 times estimated earnings on average, compared with 13.4 times for the S&P 500 and 11 times for the Stoxx 600.

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