The Nikkei remained down again today losing 1.6% due to pressures from a slowing Chinese economy and doubt on US stimulus, a very similar day to yesterday. Sharp Corp sank 12.8%, they seem to have very few small days as of late, due to uncertainty over their deal with Hon Hai. Komatsu Construction and Hitachi Construction both shed again today 2.2 and 2.6% respectively. The two have fallen in 9 of the last 10 sessions. Nippon Steel and Sumitomo Metals fell 5.6 and 5.1% respectively. The Iron and Steel and mining sector were not surprisingly the biggest losers today down 4.1 and 2.3%.

Hong Kong slipped 0.4% today, 1.6% this month, its first monthly loss of three, as China closed today at level not seen since early 2009. Citic Pacific lost 7.1% with Iron hitting its lowest level in 3 years. Sany Heavy Industries lost 4% due to missed forecasts. The top performing stock this month was Esprit rising 30% during August as it rebounded from a year low on July 25. Sands China took second adding 20% for the month. The slacker of the month, of many, was Li & Fung, losing 18%, its worst monthly performance since October 2008.

Europe snapped 3 days of losses with the FTSE currently up 0.3% due to Spanish and Italian Rallies. The Spanish IBEX is up 0.8% and the Italian MIB is up 0.9% as the ECB signals it plans to buy bonds from the troubled countries to help lower borrowing costs. Spanish lender BBVA is up 1% so far and their peer BancoPopolare is at a gain of 0.9%. Around Europe the French CAC is up 0.6% and the DAX is up 0.4%

European unemployment remained at a record high of 11.3% for July rising by 88,000.

Time Warner’s HBO and Netflix are set to battle it out in Sweden, Denmark, Norway and Finland as they both are set to release their streaming services in the countries, as of now HBO plans on its release in October, while Netflix is uncertain however before 2012 close.

Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market. Comments can be directed to ryghcw19@uww.edu

China’s Hang Seng lost 1.2% to close at its lowest in a month. China is hovering around 3 year lows, weighed down by disappointing bank earnings and property stocks. Turnover was also weak as investors hold off yet another day for Bernanke’s speak tomorrow. Agricultural Bank of China, the third largest lender, slid2.7% due to a bigger than expected margin decline. The Industrial and Commercial Bank of China and the Bank of Communications both posted weak first-half results today, slipped 1.9 and 3.5% respectively. In property, Sino Land dove 5% to its lowest in a month, and was the property sectors biggest loser today.

In Europe the FTSE 300 is currently down 0.4% with volumes at 10% of their 90 day moving average ahead of Jackson Hole. Carrefour was the big name in Europe today gaining 7.9% on better than expected results. The world’s largest advertising group, WPP, sank 2.8% today due to cautious customer demands. Their peer, PublicisGroupe, was also dragged down losing 2.1%. Around Europe the DAX is down 0.8% and the CAC 0.5%. The Madrid general was just over 1%.

Heineken is set to release two new beers in select N. American markets; Amstel Wheat and TecateMichelada.

Volvo plans to cut production 10% and slash jobs as a result of lower sales.

Commodities begin bleak with crude, natural gas, gold and silver all down.

Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market. Comments can be directed to ryghcw19@uww.edu