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Asian stocks (MXAP) fell after Standard & Poor's reduced credit ratings for lenders including Bank of America Corp., Goldman Sachs Group Inc. and Citigroup Inc. as Europe's debt crisis cuts the global earnings outlook.
Sumitomo Mitsui Financial Group Inc. Japan's second-biggest bank by market Value, fell 2 percent in Tokyo. Nanya Technology Corp. (2408), a Taiwanese memory-chip maker, slumped 6.7 percent after a report DRAM prices for the second half of November fell. Japanese power producers led gains among companies whose earnings are viewed as stable throughout the economic cycle.
http://www.bloomberg.com/news/2011-11-30/asian-stocks-fall-after-standard-poor-s-cuts-u-s-banks-credit-ratings.html
Sumitomo Mitsui Financial Group Inc. Japan's second-biggest bank by market Value, fell 2 percent in Tokyo. Nanya Technology Corp. (2408), a Taiwanese memory-chip maker, slumped 6.7 percent after a report DRAM prices for the second half of November fell. Japanese power producers led gains among companies whose earnings are viewed as stable throughout the economic cycle.
http://www.bloomberg.com/news/2011-11-30/asian-stocks-fall-after-standard-poor-s-cuts-u-s-banks-credit-ratings.html
