Stocks in Asia are mainly lower, in Japan....>

STOCKS: Stocks in Asia are mainly lower, in Japan the Nikkei 225 is 29 points

lower at 22,570. The index opened flat, but quickly fell to session lows of

22,502 before bouncing. 6/11 sectors are in the green, the breakdown mirroring

the progress of US stocks today. Financials lead the way higher, up 2.55%, as

yields rise across the curve. IT leads the way lower, down 1.28%, sources note

that the US sector rotation has bled through into Asia.

- In Australia the ASX200 is down 40 points at 5970, the index declined sharply

at the open alongside other Asia-Pac indices before bouncing off lows at 5950

and seeing tight, rangebound trade. 8/11 sectors are in the red, IT shares again

slipping and Financials also getting hit on continued worries over a probe into

misconduct in the sector.

- In China shares are lower, the Shanghai Comp is down 9 points at 3329, the

index is down 1.9% on a 1 month basis the worst loss since April. In Hong Kong

the Hang Seng is down  376 points at 29,246. On a 1 month basis the Hang Seng is

still up 3.5% but the recent decline has eaten in to the gains.