Dollar opens lower on offshore stock drops

Dollar opens lower on offshore stock drops : The Australian dollar opened lower this morning after it was unable to claw back weekend losses following weakness in US equities on Friday. At 7am eastern daylight time, the Australian dollar was trading at 96.89 US cents, down from Friday's close of 97.18 US cents. It was also buying 81.2 yen, 72.74 euro cents and 62.05 pence.

US stocks markets fell on Friday, with a holiday-thinned rank of traders taking their cue from European bourses.Advertisement: Story continues below, Since 5pm Friday, the local unit traded in a range between 96.13 US cents and 97.22 US cents.

Commonwealth Bank vice-president of institutional banking and markets, Tim Kelleher, said the local unit lost ground over the weekend due to US equities losses and continuing tensions in North Korea. But the local currency rebounded, he said, after details of a bail out deal for Ireland were released.

EU governments on Sunday approved an 85 billion ($115.59 billion) bailout for Ireland to help it withstand the weight of its banking crisis.

According to a statement released by the Irish government, the country will take 10 billion euros ($13.6 billion) immediately to boost the capital reserves of its banks. Another 25 billion euros ($34 billion) earmarked for the banks will remain in reserve.

"The overriding thing is the Aussie is getting a relief bounce in the euro which has dragged the Aussie up," Mr Kelleher said from Auckland.

"We can still expect the markets to be a bit concerned. It was a bit extended up around that parity area."

Investors would sell into rallies during domestic trade, he predicted. "We'll probably see some profit taking on it.

"I think there will be a few exporters buying and a bit of bargain hunting."

Traders were preparing for a "full week of data" ahead and questions would remain around Europe and stability on the Korean peninsula. "There's talk of Belgium being in trouble as well," Mr Kelleher said.

Australian third quarter company profits and inventories are due to be released on Monday as part of the Australian Bureau of Statistics issue of business indicators from the September quarter. RBA governor Glenn Stevens will speak at the annual CEDA dinner in Melbourne on Monday night.

Stock prices in Asia and the Pacific Stock Exchange today

Stock prices in Asia and the Pacific Stock Exchange today ; According to Xinhua, the stock price at the major securities exchanges in the Asia Pacific region yesterday (8 / 11) there is a rise, some are down. Composite stock price index of Shanghai Stock Exchange yesterday rose 30.03 points compared to the previous trading day with a recorded increase of 0.96 percent. Moderate stock price index at Shenzhen Stock Exchange rose 73.94 points, recorded an increase of 9.54 percent.

Average price index of shares Nikei 225 species in Japan Tokyo Stock Exchange rose 106.93 points, recorded an increase of 1.11 percent, the highest closing price since July 28 last.

Straits Times Index of stock prices on the Singapore Stock Exchange rose 60.09 points, or recorded an increase of 1.85 percent. Who's main stock price index in the Philippines Manila Stock Exchange fell 53.48 points, or 1.23 percent decline.

Asian stocks fell sharply today

Asian stocks fell sharply today ; Cloudy wind shadowing Asian stocks today. Because the majority of the shares in Asian stocks fell sharply. The condition is also dragging down the regional benchmark index from its highest position in the past two years due to falling oil and metal prices.

One stock that tracks the decline include: Woodside Petroleum Ltd. dropped 5.3% after Royal Dutch Shell Plc to sell 10% stake and the slump in oil prices in the past two days. In addition, the decline was also experienced BHP Billiton Ltd. fell 1.2% after oil and metal prices decays. Canon Inc., which in recent days has gone up 7.4%, even down 0.85 this morning along with anxiety strengthening of the yen versus the dollar that would incriminate exporters.

At 9:34 pm Tokyo time, the MSCI Asia Pacific Index fell 0.2% to 134.99. Meanwhile, the Nikkei 225 Stock Average fell 0.23% to 9710.58.