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Asian Stocks Fall As Investors Worry Again About Fed

Posted
8/15/2013 2:07:00 PM
By: MT Newswires
Referenced Stocks:CHL;CNET;CSCO;DANG

Asian bourses declined amid speculation the Federal Reserve will start to taper its bond-buying program next month.

US retail sales rose more than expected on Wednesday but the Dow fell and Treasury yields rose.

Stocks also felt some pressure after Cisco ( CSCO ) reported weak results after Wednesday's close.

In ADR news, China Mobile ( CHL ) says net profit in the first half of the year rose 1.5%, slightly beating expectations.

Dangdang ( DANG ) says Q2 sales were RMB1.493.5 billion ($243.3 million), more than the Thomson Reuters mean for $235.53 million. Net loss per share was $0.31 and loss per ADS was $1.53. Estimates, usually less items, was for a $0.15 loss. Q3 sales are seen around RMB 1.584 billion.

ChinaNet Online ( CNET ) says Q2 sales were $8.9 million, down 32% from a year ago. EPS fell 50% to $0.02. It sees 2013 sales of $36 million and net income of $1.2 million.

The Nikkei ended down 2.12% at 13,752.94, the Hang Seng down 0.01% at 22,539.25 and the Straits Times down 0.85% at 3,220.92.