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Asian Stocks Fall as Commodity Prices Decline; Sanyo Advances
2010-04-13 00:29:46.735 GMT


By Kana Nishizawa
April 13 (Bloomberg) -- Asian stocks fell for the first
time in three days, led by commodity companies after oil and
metals prices declined.
BHP Billiton Ltd., Australia’s largest oil company,
declined 0.7 percent. Alumina Ltd. sank 1.9 percent as venture
partner Alcoa Inc. reported revenue that trailed analyst
estimates. Sanyo Electric Co., a Japanese electronics maker,
climbed 3.3 percent after Nikkei English News flagged higher
operating profit for the company.
The MSCI Asia Pacific Index dropped 0.3 percent to 127.87
as of 9:20 a.m. in Tokyo. The gauge has climbed 12 percent from
its 2010 low on Feb. 8 as Greece debt concerns eased and
improving U.S. economic data strengthened confidence in the
global recovery. Stocks in the gauge trade at an average 1.7
times book value, near the highest level since September 2008.
Japan’s Nikkei 225 Stock Average sank 0.8 percent.
Australia’s S&P/ASX 200 Index fell 0.4 percent. New Zealand’s
NZX 50 Index declined 0.1 percent. South Korea’s Kospi index
declined 0.5 percent.
Futures on the U.S. Standard & Poor’s 500 Index lost 0.2
percent. The gauge rose 0.2 percent yesterday as takeovers and a
$61 billion rescue plan for Greece bolstered equities.
BHP lost 0.7 percent to A$44.14 after oil and copper
futures in New York declined 0.7 percent yesterday. Rio Tinto
Group, the world’s third-largest mining company, sank 0.7
percent to A$80.12.

Chinese Banks

Alumina slumped 2.9 percent to A$1.825. Alcoa’s first-
quarter sales of $4.89 billion missed the $5.23 billion average
estimate of eight analysts surveyed by Bloomberg, even amid
aluminum prices that were 57 percent higher on average in the
first quarter than a year earlier.
Chinese banks may be active in Shanghai and Hong Kong after
China’s central bank said lenders extended 510.7 billion yuan
($74.8 billion) of new loans in March. That compared with 700
billion yuan in February and the median forecast of 709 billion
yuan in a Bloomberg News survey of 21 economists.
Industrial & Commercial Bank of China Ltd., the nation’s
biggest listed lender, fell yesterday 1 percent to 4.92 yuan.
China Construction Bank Corp., the second largest, closed 1.6
percent lower at 5.60 yuan.
Powerchip Semiconductor Corp. may be active in Taipei today
after the company’s board approved a plan to sell as many as 800
million new shares, the chipmaker said in an exchange filing.
The company said it plans to reduce capital by 38 percent to
make up for accumulated losses.

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4.12.2010
http://marcfaberblog.blogspot.com/2010/04/governments-will-need-to-print-money.html

Governments Will Need To Print Money. Paper Currencies And Precious Metals.

"When the percentage of interest payments to tax revenue gets too high, it will become clear to everyone that the government will need to print money in earnest to make these payments. That's when you're likely to see a crisis of confidence in the dollar.

The question is will there be a crisis of confidence in all paper monies and what will the reaction of investors be? I would imagine that when the crisis really emerges, you'd see people flee from all paper currencies into precious metals."

Related ETF`s: iShares Silver Trust (ETF) (Public, NYSE:SLV) and SPDR Gold Trust (ETF) (Public, NYSE:GLD)

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world. Dr. Doom also trades currencies and commodity futures like Gold and Oil.