Stock market fixing:
Nikkei 225 -326.94 -2.50% 13,033.10
Topix -29.29 -2.20% 1,283.51
FTSE -72.20 -1.31% 5,440.50
DAX -91.34 -1.43% 6,304.41
CAC -66.98 -1.54% 4,275.61
Dow +152.25 +1.36% 11,384.21
NASDAQ +51.10 +2.28% 2,294.42
S&P +21.39 +1.71% 1,273.70
10yr Note -0.5000 -0.127% 3.880%
NYMEX Crude Oil -5.33 -3.77% 136.04
Gold -5.50 -0.59% 923.30

Japan's stocks fell to the lowest in almost three months on concern asset writedowns will cause credit markets to tighten and as a drop in oil prices dimmed earnings prospects for commodities-related companies.
Mizuho Financial Group Inc. fell the most in seven weeks after analysts said the two largest U.S. mortgage lenders will need to raise capital and Merrill Lynch & Co. may report a loss. Nomura Holdings Inc. dropped to the lowest in three months. Inpex Holdings Inc. plunged to a one- month low after crude prices sank the most in almost three weeks.
Freddie Mac and Fannie Mae fell to the lowest in 13 years in New York after Lehman Brothers Holdings Inc. analysts said yesterday the mortgage lenders may need to raise a combined $75 billion to overcome further writedowns. Merrill Lynch may report a second-quarter loss after $6 billion of writedowns, Citigroup Inc. analysts said the same day.
Mizuho, the Japanese bank most heavily hit by the collapse in the U.S. mortgage market, dropped 3.7% and was the most actively traded stock by value on the Topix. Orix Corp., Japan's largest non-bank financial company, tumbled 6.3%. Nomura fell 4.6%, the lowest since April 14.

European stocks fell, sending the Dow Jones Stoxx 600 Index to the lowest in three years, as concern deepened financial firms will need more capital and slumping commodity prices weighed on energy and basic-resource shares.
Credit Suisse Group AG and Deutsche Bank AG retreated as analysts said the two largest U.S. mortgage finance companies may have to raise a combined $75 billion. Bank of Ireland Plc tumbled after the lender said slowing economic growth is ``adversely impacting'' earnings. Royal Dutch Shell Plc and Anglo American Plc followed crude oil and metals lower.
Stocks extended declines as a report showed U.S. home sales slumped more than forecast. Contracts to buy previously owned U.S. homes slipped 4.7% in May, the National Association of Realtors said.
Credit Suisse, Switzerland's second-largest bank, fell 3.2%. Deutsche Bank, Germany's largest bank, slipped 2.6%.
Shell, Europe's largest oil producer, declined 2.3%, while Total SA, the region's third biggest, lost 2%.

Wall Street closed higher, despite the report showed May pending home sales fell 4.7%, compared to the expected decline of 3%. Separately, wholesale inventories rose 0.8%, which is slightly more than the consensus estimate that called for growth of 0.6%.
VMware (-13.12) plunged 24% to its lowest level since its August 2007 IPO after announcing the departure of its president and CEO. The tech-company also said it expects fiscal year 2008 revenue growth to be mostly below prior guidance that called for more than 50% growth.

The dollar rose against the euro for the first time in three days as Federal Reserve Chairman Ben S. Bernanke said the bank may extend securities dealers' access to direct loans into 2009.
The U.S. currency erased losses that came yesterday on concern Fannie Mae and Freddie Mac, the two largest U.S. providers of home financing, may need to raise additional capital. China's yuan remained higher against the dollar after the Group of Eight nations signaled they're seeking gains in currencies of countries with trade surpluses.
Bernanke said on June 3 that he's ``attentive'' to the effect of the dollar's decline on inflation. He and U.S. Treasury Secretary Henry Paulson are scheduled to testify before Congress on July 10.
Pending home resales in the U.S. fell 4.7 percent in May after a revised 7.1% increase in the prior month, the National Association of Realtors reported today in Washington. The median forecast of 38 economists for a decrease of 3%.

EUR/USD tested $1.5670/80 zone of bids before rallying to $1.5740. Meanwhile later rate came under pressure again, backing off to $1.5630.
GBP/USD fell from $1.9790 amid position-adjustment after it failed to break above $1.9800. As a result pound slid to $1.9660.
USD/JPY printed lows at Y106.20 before rose to Y107.50.

There are no key economic news from US. In Europe the attention will be on UK trade balance at 08:30 GMT and EU Q1 GDP data revision at 09:00 GMT. As expected, economy growth was unchanged at +0.8% m/m and +2.2% y/y.