Asia markets are likely to open lower based on a sharp fall in US financial shares and concerns about the dollar. “With the U.S. performing so poorly, it can only mean bad news for the market here,” said Terunobu Kinoshita, who helps manage $785 million at Fund Creation Co. in Tokyo told Bloomberg.
HSBC (HBC) made a move that may pressure its stock. HSBC is betting that taking ownership of Cullinan Finance Ltd. and Asscher Finance Ltd. — SIVs that in total have $45 billion in assets — will restore investor confidence, according to The Associated Press.
Sony (SNE) may rise on an investment from Dubai, which tends to support the general management direction of the company.
Weakening car sales in the US could put pressure on shares like Toyota (TM) and Honda (HMC).
If the markets in Hong Kong and Tokyo drop early and do not recover in the first two hours, they may slide further and end up off 3% or 4%.
Douglas A. McIntyre
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