China Down Big Overnight, Japan Slips, Gold Back Above $1100

It was a rough session in Asia, especially in Chin.

WSJ: China’s Shanghai Composite slid 2.1% and Hong Kong’s Hang Seng Index fell 0.8% on worries new share sales and policy tightening measures would sap market liquidity.

Japan’s Nikkei 225 Average ended 0.2% lower, Australia’s S&P/ASX 200 lost 0.4%, South Korea’s Kospi slipped 0.1%, Taiwan’s Taiex rose 0.2%, New Zealand’s NZX 50 rose 1% and Philippine shares slid 1%.

European markets, however, made small gains, perhaps helped by good earnings news after the bell from RIMM and Oracle.

Meanwhile US futures are pointing up modestly.

For the moment, gold is up above $1100.

gold

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