GLOBAL MARKETS

Japan stocks dropped Monday because of growing fears of U.S. economic slowdown and lagging Asian markets.

U.S. stocks fell on Monday for a second day after Wachovia Corp. reported an unexpected first quarter loss, adding to investors tension about earning reports after bellwether General Electric Corp. disappointed last week with its earnings loss.

India's top IT services provider, Tata Consultancy Services (TCS), said it has bagged a multi-year contract from US-based automaker Chrysler LLC to provide maintenance on mainframes and servers and support computer applications.

The Bombay Stock Exchange (BSE) Sensex shrugged off early inflation jitters to end up 0.72 percent, Friday, on news of stronger-than-expected growth in industrial output, which buoyed market sentiments.

U.S. stocks fell to April lows on Friday after General Electric Co. shook investors with its lower-than-expected earnings results which increased concerns that the credit crunch has moved into all sectors.

Japan stocks rebounded Friday after a three-day decline as investors came to feel better by the previous day's recover on Wall Street recovering and weaker yen.

Accent – which has an 80% stake at Mt Gibson – saw its stocks rise 13.5c (54%) to reach 38.5c a share in today's trading. By the afternoon the company's stocks had cooled to 33c a share.

Both Shanghai and Shenzhen stock markets closed a bit higher Thursday,the mining and metal companies support the rebound depite Sinopec's trumble.

The FTSE 100 share index fell marginally on Thursday, dropping 18.8 points to 5,965.1 (down 0.3 per cent) after the Bank of England cut interest rates from 5.25 to 5 per cent.

Treasuries fell on Thursdays as stronger earnings sent investors looking for riskier stocks, weakening demand for relatively safe, but low yielding government debt.

Wall Street rose for the first time in three days on Thursday as investors bought back into stocks after two days of losses, after reports showed a drop in unemployment claims and a better-than-expected sales performance by Wal-Mart Stores Inc.

The 30-share benchmark sensitivity index of the Bombay Stock Exchange (BSE), the Sensex, rallied, Wednesday, to climb 1.30 percent or 202.89 points to end up at 15,790.51 with 17 components rising, boosted by a late run in banking stocks even as Asian markets all around tumbled.

The FTSE 100 share index edged down on Wednesday falling 6.3 points to 5,983.9 (down 0.1 per cent).

China's stocks listed in the United States stock markets and ADR continue to lower Wednesday follow the US stock markets' tumble.

Treasury prices rose on Wednesday as stocks fell and the financial sector showed additional signs of trouble.

U.S. stocks dropped for a second day on Wednesday after United Parcel Service Inc. said shipments are slowing and crude oil topped $111 a barrel raising concerns about the economy.

The prime index of the Bombay Stock Exchange (BSE) failed to carry on the upward momentum it had set on Monday, by ending down 1.08 percent or 19.46 points on Tuesday, tracking weak global cues.

Japan stocks dropped Tuesday as investors began to raise fears about global economy and situation of Beijing Olympic. Also some investors sold stocks for profit-taking before earnings season. Many investors expect results of Japan and U.S. companies' quarterly earnings will not be so profitable.

Two-year treasuries rose on Tuesday after released minutes from the Federal Reserve showed policy makers' view that a recession is likely in the first half of the year.

The FTSE 100 share index fell early on Tuesday. At 08:34 on Tuesday the FTSE 100 was down 41.2 points to 5,973.6 (down 0.7 per cent).

U.S. stocks on Tuesday fell the most in seven days after Alcoa Inc.'s earnings fell short of forecasts and Washington Mutual Inc. was forced to slash its dividend in a $7 billion bailout. Washington Mutual led financial shares lower after the largest savings and loan cut its payout by 93 percent and projected a first-quarter loss of $1.1 billion.

Treasuries fell on Monday as investors took on riskier investments on hopes that a deeper economic downturn has been avoided due to policy action by the Federal Reserve.

Japanese stocks rebounded Monday as concerns perpetuated over U.S. economy and the trend of a weaker yen against U.S. dollar persisted.

The FTSE 100 share index rose 55.8 points on Friday to 5,947.1 (up 1 per cent).

Japan stocks declined Friday after 3-day increase as investors sought profit and locked in shares.

U.S. stocks were mixed on Friday after new data reported the biggest unemployment rate climb in five years, causing the market to pare its largest weekly advance since February.

While U.S. housing market was weakening and the stock and foreign currency markets destabilized, there was trend of increasing Japanese corporate bonds issuance for individual investors last year.

The FTSE 100 share index fell 24.6 points to 5,891.3 (down 0.4 per cent) on Thursday.

Japan Stocks continued to increase for a third-straight-day Thursday due to rising material prices and strong U.S. dollars.