Asian markets struggled for direction Thursday, as investors worried over euro-zone sovereign-debt problems, while Chinese stocks slipped on lingering worries about monetary-policy tightening by Beijing.
The Shanghai Composite index /quotes/comstock/16k!i:000001 (CN:SHCOMP 2,898, -13.28, -0.46%) fell 0.5% and Hong Kong’s Hang Seng index /quotes/comstock/08s!i:hsi (HK:HANGSENG 22,669, -306.57, -1.33%) fell 1.3%.
After markets in the region closed, Standard & Poor’s lifted China’s long-term credit rating to AA-minus from A-plus, saying the government had deftly handled the financial crisis and that a higher rating reflected the nation’s improved fiscal position and growth prospects.Read story on S&P’s upgrade of China’s long-term credit rating.
Shares in Mumbai rebounded from initial losses after the Reserve Bank of India left interest rates unchanged but moved to ease a liquidity crunch in the banking system.
