Monday, November 12, 2007

Yen broke 110 to the Dollar

Hong Kong ended 3.88% lower, Tokyo dropped about 2.5% and Shanghai shed more than 2. The dollar briefly fell below ¥110 before regaining ground. But the damage has been done. The market is waiting for the unwinding of the Yen carry trade.

Market Indices
Australia All Ordinaries 6523.30 - 1.27%
Bombay Sensex* 18669.20 - 1.26%
Hong Kong Hang Seng 27665.73 - 3.88%
Japan Nikkei 15197.09 - 2.48%
Shanghai Composite 5187.73 - 2.40%
Singapore STI 3510.95 - 2.46%
South Korea Composite 1923.42 - 3.37%
Taiwan Weighted 8670.61 - 3.35%

*Late trading

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