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Asia stocks down on US manufacturing report

Published on NewsOK Modified: December 3, 2012 at 11:06 pm •  Published: December 3, 2012

The bank voiced concerns for the Australian economy amid uncertainty over the United States' fiscal policy and stubbornly weak conditions in Europe.

Australia's Newcrest Mining Ltd. fell 2 percent and Energy Resources of Australia Ltd. lost 2.9 percent.

Elsewhere, struggling electronics maker Sharp gained 1.7 percent in Tokyo. Japanese news reports said Sharp and U.S. mobile phone chipmaker Qualcomm Inc. have reached a basic agreement on a capital and business tie-up.

On Wall Street on Monday, the Dow Jones industrial average dropped 0.5 percent to close at 12,965.60. The Standard & Poor's 500 index fell 0.5 percent to close at 1,409.46. The Nasdaq composite fell 0.3 percent to 3,002.20.

Benchmark oil for January delivery was down 18 cents to $88.91 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 18 cents to close at $89.09 in New York on Monday.

In currencies, the euro fell to $1.3050 from $1.3060 late Monday in New York. The dollar fell to 82.07 yen from 82.24 yen.


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