Arab Today, arab today asian markets retreat again
Last Updated : GMT 19:57:05
Arab Today, arab today
Arab Today, arab today

As early gains are reversed

Asian markets retreat again

Arab Today, arab today

Arab Today, arab today Asian markets retreat again

Volatility that has characterised the start of the year extends another session
Hong Kong - Arab Today

The volatility that has characterised the start of the year extended another session on Friday, with beleaguered Asian markets mostly falling with investors rushing to the sidelines after some early promise.

The day started well following a surge on Wall Street but momentum faded in the afternoon as the common themes of falling oil prices and China's struggling economy -- which have wiped trillions of world markets so far in 2016 -- resurfaced.

Shanghai again led the losses, ending 3.6 percent down to top off a roller-coaster week as a better-than-expected reading on Chinese trade failed to eradicate worries about the economy, which is at its weakest in 25 years.

The losses followed a near two percent rise Thursday, which reports said was fuelled by government cash buying key state-backed companies.

The index has now fallen almost 20 percent since the end of last year as China's leaders struggle to get a grip on the growth slowdown while their bungling of the crisis, and their recent weakening of the yuan currency, has reverberated globally.
"Sentiment on the yuan has to stabilise before we see stability returning to the equity market," said Ronald Wan, chief executive at Partners Capital International in Hong Kong.

Friday saw most regional bourses tick cautiously higher before going into reverse.

Tokyo fell 0.5 percent, Sydney lost 0.3 percent, Seoul shed 1.1 percent and Singapore slipped 0.5 percent in late trade. Hong Kong slipped 1.3 percent in the afternoon. However, there were gains in Wellington, Taipei and Manila.

"The week has certainly been unpredictable and very volatile," Geoffrey Ng, a Kuala Lumpur-based director at Fortress Capital Asset Management, told Bloomberg News.

- 'Significant volatility' -

He added that as regional markets have fallen "we’re seeing opportunities emerge", although he said it was hard to gauge what the trend will be in the next few weeks.
US dealers opened the door to a bright trading day, with all three Wall Street indexes ending sharply higher.

Traders took heart after James Bullard, head of the Federal Reserve's St. Louis Branch -- considered in favour of more rate hikes -- suggesting the bank might be cautious about additional rises in light of the latest market turmoil.

A recovery in oil prices also boosted sentiment in New York, with both contracts for the black gold having fallen below $30 a barrel this week for the first time in 12 years.

However, it resumed its downtrend in Asia with West Texas Intermediate down 2.7 percent and Brent off 1.7 percent in the afternoon. Oil has dived by three quarters in the past 18 months owing to weak demand, a slowing global economy and a supply glut.

The retreat in crude has battered Anglo-Australian mining giant BHP, which said Friday it expects to post a US$7.2 billion pre-tax writedown, adding that it will further reduce the number of onshore US rigs.

Chief executive Andrew Mackenzie blamed "significant volatility and much weaker" prices in the oil and gas industry, adding that the company had been forced to reduce its medium- and long-term price assumptions.

However, the firm's stock price still climbed 1.3 percent Friday, although it sank 40 percent last year because of the ongoing drop in commodity prices.

- Key figures around 0730 GMT -

Tokyo - Nikkei 225: DOWN 0.5 percent at 17,147.11 (close)

Shanghai - Composite: DOWN 3.6 percent at 2,900.97 (close)

Hong Kong - Hang Seng: DOWN 1.4 percent at 19,545.01

Euro/dollar: UP at $1.0882 from $1.0865 Thursday

Dollar/yen: DOWN at 117.67 yen from 118.06 yen

New York - Dow: UP 1.4 percent at 16,379.05 (close)

London - FTSE 100: DOWN 0.7 percent at 5,918.23 (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 retreat again Arab Today, arab today asian markets retreat again

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
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 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

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 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
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 Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
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 Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

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 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
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