Asia Off, Europe Flat At Open

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By Douglas A. McIntyre Published
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Asia stocks fell on continued concerns about EU sovereign debt and numbers that showed China’s manufacturing sector contracted.

The Nikkei 225 was down 1.66% to 8,377. The Hang Seng was down 1.78% to 18,027. China’s manufacturing sector continued a decline in December according to numbers from HSBC.

At the open in Europe, the DAX was up .73% to 5,721. The FTSE 100 was higher by .46% to 5,391.

Germany PMI data for December rose to 48.1 from 47.9 in November.

There is an increasing sense that Germany has become decoupled from the balance of the EU economies as its manufacturing, export, and GDP continue to grow slowly. At the same time, there are economic contractions in the southern European nations of Italy, Spain, Portugal, and France. This leads to greater concern that Germany will be able to dictate terms to any bailouts because it is likely to be the largest supplier of money for such actions.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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