Arab Today, arab today asian markets chase wall st down
Last Updated : GMT 16:40:38
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

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 Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 06:51 2017 Saturday ,18 February

Blames government for economic crisis

GMT 06:35 2017 Saturday ,18 February

MP calls for re-operating closed companies

GMT 13:35 2017 Friday ,17 February

Confirms Britain is biggest investor in Egypt

GMT 15:55 2017 Thursday ,16 February

Egyptian foods completely unobserved nor healthy

GMT 11:18 2017 Wednesday ,15 February

Reveals plan to get out of financial crisis

GMT 12:33 2017 Tuesday ,14 February

Yemeni accuses militias of challenging oil

GMT 18:07 2017 Monday ,13 February

Over 3000 workers lost their jobs
View News in Arabic - Business: أخبار الاقتصاد
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
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