Market Report - Asian Banks, Property Firms Ease

ZHANG: Asian share markets moved lower Tuesday, weighed down by real estate firms and financial stocks. The Nikkei dipped, hit by property firms after a brokerage downgrade. Yahoo Japan fell 4 percent after a report that Microsoft would buy its search business but not the listed Japanese firm. In Sydney, stocks ended a four-day winning streak, as the country's top investment bank Macquarie Group fell after saying it faced a tough year. In Seoul, shares declined on renewed concerns about rising energy and raw materials costs and how they would impact consumer spending. Samsung Electronics was among the main losers, following U.S. chipmaking peers lower. Taiwan's benchmark fell 2.4 percent as the new President was inaugurated. The fall erased part of a 5 percent rise over the previous week. Taiwan is currently Asia's best-performing market. In China, the key stock index hit a 4-week closing low. Bank shares fell on concerns about the impact of last week's earthquake on the economy.

YouTube | May 21, 2008