Asian stocks dropped again as tensions continue to escalate with
Syria, and a strike on the country looks imminent.
US President Barack Obama is reportedly working with allies to
take some action against Syria for using chemical weapons against
civilians. The U.K. Parliament was recalled from its summer recess
and will meet tomorrow to debate its response on Syria.
U.S. Defense Secretary Chuck Hagel told the BBC the U.S.
military is "ready to go" if President Barack Obama orders action
over a chemical weapons attack in Syria, while NBC News reported
the U.S. could launch a missile strike against Syria "as early as
Around the region, South Korean manufacturing confidence
rebounded from a six-month low to 77 from 73 for August, the Bank
of Korea said.
China will likely allow its commercial banks to issue negotiable
certificates of deposit in the interbank market, which would be a
key step toward further liberalizing the nation's deposit rates,
the Financial News reported Wednesday.
In ADR news, China Gerui (
) says Q2 revenue decreased 43.9% to $43.1 million from a year ago
and missed the Thomson Reuters mean for $65.5 million. EPS were
zero, below estimates for a $0.07 gain. It revised its full year
2013 revenue guidance to $165 million to $170 million. Estimates
are for $280.10 million.
Japan's Nikkei hit a two-month low and ended down 1.51% at
13,338.46. The Hang Seng shed 1.6% to 21,524.65 and the Straits
Times lost 0.98% to 3,004.18.
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