Standard & Poor's downgraded the credit ratings of nine euro-zone countries, stripping France and Austria of their coveted triple-A status but not EU paymaster Germany, in a Black Friday the 13th for the troubled single currency area.
Japanese stock futures and Australian equities fell after Standard & Poor’s stripped France of its top credit rating and cut eight other euro-zone nations, boosting concern the region’s debt crisis may worsen.
American depositary receipts of Mitsubishi UFJ Financial Group Inc., Japan’s top publicly traded bank, fell 1.2 percent from the closing share price in Tokyo. Those of Kyocera Corp., an electronics maker that gets almost 20 percent of its sales in Europe, slid 0.7 percent. BHP Billiton Ltd., Australia’s No. 1 oil producer and the world’s biggest mining company by market value, slipped 1.1 percent in Sydney after commodity prices dropped.
Futures on Japan’s Nikkei 225 Stock Average expiring in March closed at 8,460 in Chicago on Jan. 13, up from 8,500 in Osaka, Japan. They were bid in the pre-market at 8,430 in Osaka at 8:05 a.m. local time. Australia’s S&P/ASX 200 Index fell 1 percent today. New Zealand’s NZX 50 Index lost 0.2 percent in Wellington.
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