Spain, the euro's fourth largest economy, Bangkok (AP) -- Asian stock markets fall on Thursday, played two gap credit degradation, the earnings season open SOB.
Standard &poor's cut Spain's debt Wednesday night from BBB + down to BBB -, the lowest investment grade level. Standard &poor's says, this action is due to the country's economic recession, high unemployment and social unrest, which limits the government choice, in order to tackle the country's financial crisis.
Meanwhile, aluminum giant American aluminium company, marks the unofficial American enterprise earnings season start beat profit forecast, but the company cut demand forecast year, this was mainly due to China's economic growth slowed, investors feel disappointed.
In the worsening global economic slowdown of another sign is the bank of Korea will cut the benchmark interest rates this year and next year's economic growth forecasts.
From foreign unrest drag Asian markets lower. Japan's nikkei 225 index fell 0.6% to 8546.80 point. South Korea's Kospi index fell 0.8% to 1932.74 point. Australia's S&P/ASX 200 index fell less than 0.1% to 4490.50 point. However, Hong Kong's hang seng rose 0.2% to 20969.90.
On Tuesday, the international monetary fund reduced, for the world economic growth forecast from 3.5% to 3.3%, this year. In the year 2013 growth forecasts is 3.6%, 3.9% year-on-year drop, 3 months ago, 4.1% in April,. Worries about global economic growth, the market atmosphere heavy pressure.
"From now on, it will be much economic or corporate earnings growth problem. The prospect for, is still very flat, to prove what of the IMF's said," said rix pune, chief market analyst CMC Markets in Sydney.
Spain put forward another very worrying problem. Last month, the European central bank agrees to buy unlimited government bonds struggle of the European countries, such as Spain, to help reduce borrowing costs. However, the government need to apply for first aid.
Spain is not applicable to the rescue. On the contrary, the government has introduced a series of retrench and labor measures to put its budget deficit, and persuade investors without outside help, it can manage their financial.
"Slow progress on a sovereign aid for Spain will likely play (S&P) decision, a factor, is also is better than the overall market atmosphere effect," credit calyon societe generale in Hong Kong's analysts said, in a market commentary. "Debt degradation may be in marginal increase pressure, the Spanish government require a formal assistance."
In stocks, Toyota motor corporation fell 1.6%, after the company was forced to recall 7.4 million cars, from all over the world due to the power window switch failure.
Australia Linus company's shares fell 14.5%, Malaysian court delayed start production of rare earth treatment plant project environmentalists and other opponents consideration against.
China property counters were rising expected action by government support infrastructure projects in order to stimulate the economic growth. In the hong kong-listed China railway construction corporation rose 4.7%. China railway group group rose 3.8%.
Wall Street fell on Wednesday. By the closing, the dow Jones industrial average index fell 1% to 13344.97. Standard &poor's 500 stock index fell 0.6%, to 1432. The nasdaq composite index fell 0.4% to 3051.78.
America's quarterly earnings season, is expected to three years is the most weak. Analysts expect the company will common in an S&P 500 low 1%, compared with the same last year, the third quarter earnings report.
The second largest oil company, Chevron (Chevron) warned that oil price and production decline will lead to earnings would "greatly reduces the."
November delivery benchmark crude oil futures prices 37 cents to $91.62 a barrel on the New York mercantile exchange in electronic trading. This contract fell $1.14, to close at $91.25 a barrel on the New York mercantile exchange last Wednesday.
In currency markets, the euro fell to $1.2863 from $1.2897 in New York on Wednesday night. The fall in the dollar to 78.05 yen, from 78.19 yen.




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