Good morning Asia! Here’s what you need to know:
- U.S. indices were all down in Thursday trading, with the S&P 500 down 0.36%. Financials were particularly hard hit, with shares in the banking ETF, KBE, down 2.62%.
- Bank of America shares slid over 5% on increasing concerns over the banks position in the mortgage fraud scandal. See the presentation that is worrying investors here >
- MBIA shares rose 16.18% based on a report that suggested the company would be the big winner in the fallout from the mortgage bond scandal. Check out the presentation here >
- Gold continued its rise today, closing above $1380. Pressure continued to push the dollar lower.
- Google earnings came in better than expected. For the full report, head over to SAI >
- Germany’s courts are blocking a $116 billion joint venture between Rio Tinto and BHP Biliton. The German court ruling will be a part of the EU decision, and thus halt the jv.
- Japanese industrial production data is released at 12:30 AM ET. The projection is for a month-over-month fall of 0.3%.