Arab Today, arab today asian markets chase wall st down
Last Updated : GMT 21:01:20
Arab Today, arab today
Arab Today, arab today

As global fears return

Asian markets chase Wall St down

Arab Today, arab today

Arab Today, arab today Asian markets chase Wall St down

Asia extended a global stock market sell-off following sharp losses in New York
Hong Kong - Arab Today

Asia extended a global stock market sell-off Wednesday following sharp losses in New York and Europe as fresh fears over the global economy sparked a flight to safe investments.

After enjoying a healthy run of recent gains, traders have been spooked by a string of disappointing data from China to Europe and the United States that led them to question whether hopes of a nascent recovery were overdone.

The losses were compounded in Sydney, where mining giant BHP Billiton plunged more than nine percent after Brazilian prosecutors slapped it with a $43 billion lawsuit over November's deadly Samarco dam disaster.

Sydney closed 1.5 percent down while Hong Kong ended down 0.7 percent. Seoul shed 0.5 percent and Singapore gave up 1.3 percent in late trade.

Taipei sank 1.3 percent while there were also big losses in Jakarta as first-quarter economic growth in Indonesia -- Southeast Asia's biggest economy -- missed forecasts.
Shanghai flitted between gains and losses after Chinese authorities hinted at unveiling measures to support the country's stock markets. The city's benchmark index ended 0.1 percent lower.

Tokyo was closed for a public holiday.

The losses came after Wall Street and Europe's main indexes were flooded in red ink. In early European trade Wednesday London dipped 0.1 percent, Frankfurt was flat and Paris fell 0.2 percent.

On Tuesday, the European Union cut its eurozone growth forecasts for this year, warning that global risks including the slowdown in China and the danger of Britain leaving the EU were having a damaging effect.

It was the latest in a flurry of data highlighting weaknesses in the global economy, including a shrinkage or slowdown of manufacturing activity in China, Britain and the United States.

- Dollar rallies -

Last week, Washington said US consumer spending barely increased last month while the world's number one economy expanded in the first quarter at a much slower rate than expected.
"The continued narrative is that the global economy is not very strong, even if the US is the best of the bunch," Joe Bell, a Cincinnati-based senior equity analyst at Schaeffer’s Investment Research, told Bloomberg News.

"We've had such a strong run-up over the last few months that we’re in a bit of a consolidation phase."

On currency markets the rush to safety saw higher yielding, or riskier, emerging market units take a belting against the dollar.

The Australian dollar plunged 0.7 percent, extending losses from Tuesday when it was hit by a shock interest rate cut by the country's central bank. The Aussie has fallen around three percent in the past two days.

The greenback also rallied 1.2 percent against the South Korean won, 1.2 percent against the Canadian dollar and 1.3 percent versus the Malaysian ringgit. 

Comments from Federal Reserve officials suggesting the US central bank could hike interest rates as soon as next month also provided support to the greenback against the yen after plummeting over the past month.

The dollar was at 106.86 yen in afternoon trade, compared with Tuesday's low of around 105.50 yen, which was the weakest in 18 months. The US unit had risen to as high as 107.30 yen at one point.

However, the greenback is still down nearly 13 percent against the safe haven Japanese unit after the Fed last month tempered expectations of a rate hike any time soon and the Bank of Japan held off loosening monetary policy.

- Key figures around 0810 GMT -

Hong Kong: DOWN 0.7 percent at 20,525.83 (close)

Shanghai: DOWN 0.1 percent at 2,991.27 (close)

Tokyo: Nikkei 225: Closed for public holiday

London - FTSE 100: DOWN 0.1 percent at 6,180.46

Euro/dollar: DOWN at $1.1494 from $1.1507 Tuesday 

Dollar/yen: UP at 106.86 yen from 106.63 yen

New York - Dow: DOWN 0.8 percent at 17,750.91 (close)

Source :AFP

arabstoday
arabstoday

GMT 14:39 2017 Tuesday ,19 September

Catherine proud for contract with Morocco

GMT 20:39 2017 Wednesday ,13 September

Al Shamri calls for supporting the Islamic

GMT 03:58 2017 Wednesday ,13 September

Saudi is ready to expand production cuts

GMT 09:43 2017 Sunday ,10 September

Workplace safety key concern

GMT 18:47 2017 Sunday ,03 September

Diplomat underlines importance of visit

GMT 17:39 2017 Saturday ,02 September

Minister underlines support for OPEC cut deal

GMT 19:47 2017 Friday ,01 September

MP blames government for performance

GMT 20:21 2017 Tuesday ,29 August

Dow, Aramco Possible Equity of Sadara
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian markets chase wall st down Arab Today, arab today asian markets chase wall st down

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian markets chase wall st down Arab Today, arab today asian markets chase wall st down

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Egypt tourism revival steady but slow

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 21:57 2017 Sunday ,17 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday