Arab Today, arab today china sends world markets sliding
Last Updated : GMT 20:09:46
Arab Today, arab today
Arab Today, arab today

As China released data showing

China sends world markets sliding

Arab Today, arab today

Arab Today, arab today China sends world markets sliding

Tokyo's Nikkei ended down 0.8 percent at 16,783.15
London - Arab Today

World stock markets sank deep into the red on Tuesday, as China released data showing another hefty slump in exports, sparking renewed worries over the nation's powerhouse economy.

China's exports dived more than a quarter on-year in February, new data showed Tuesday, while imports were almost 14 percent off -- far worse than forecast.

"That shocking slide in exports was joined by at similarly weak, if not quite as alarming, drop in imports; combine the two together and it is the kind of ugly reminder of China's spluttering economy investors certainly do not need at the moment," said analyst Connor Campbell at trading firm Spreadex.

In reaction, most Asian markets fell, with investors also cashing in after enjoying their best rally so far this year.

Hong Kong retreated 0.7 percent and Tokyo dropped 0.8 percent, but Shanghai reversed initial heavy falls to eke out slender gains.
The gloom spilled over into Europe, with Frankfurt and Paris shedding 1.2 percent and 1.3 percent respectively, while London lost 0.8 percent.

“Equity markets (are) in the red again, with disappointing overnight Chinese trade data showing plunging February exports serving to spook investors who are already concerned about the state of global growth," said head of research Mike van Dulken at Accendo Markets.

"The market reaction is in stark contrast to the habitual cheering about bad data implying more stimulus, and the Lunar New Year may explain the big drop."

- Miners forge lower -

Mining stocks were the hardest hit sector on demand jitters because China is a leading consumer of most raw materials.

In London, resources giant Anglo American saw its share price tumble 9.3 percent to 569.70 pence, topping the FTSE 100 fallers' board.
Swiss rival Glencore shed 7.64 percent to 157.70 pence, Rio Tinto dropped 5.65 percent to 2,110.50 pence and Antofagasta was down 5.06 percent at 562.50 pence.

In Paris, the share price of steelmaking titan ArcelorMittal dived almost 5.0 percent to 4.43 euros, while Germany's ThyssenKrupp slid 1.8 percent to 16.88 euros in Frankfurt.

German energy giant RWE saw its shares slide 2.30 percent to 11.03 euros, after it posted falling annual profits and forecast fresh gloom for 2016.

Europe's energy sector also took a knock from oil prices, which pulled back following healthy gains on Monday -- when Brent crude broke the $40-per-barrel barrier for the first time in 2016.

The gloomy Chinese figures are the latest to highlight weakness in the economy, although officials pointed out that they were skewed by the Chnese New Year holiday that saw factories shut down for a week.
However, Frederic Neumann, co-head of Asian economic research at HSBC Holdings in Hong Kong, added: "Exports got pummelled again in February, highlighting the downturn in global demand.

"It's easy to blame Chinese New Year distortions, but there is a much deeper malaise that is becoming apparent in the numbers."

The Chinese customs data was released as the nation's leaders hold their annual policy gathering, which started Saturday with Premier Li Keqiang targeting 6.5 to 7 percent economic growth this year.

- Key figures around 1200 GMT -

London - FTSE 100: DOWN 0.8 percent at 6,134.50 points

Frankfurt - DAX 30: DOWN 1.2 percent at 9,660.40

Paris - CAC 40: DOWN 1.3 percent at 4,384.50

EURO STOXX 50: DOWN 1.1 percent at 2,986.90

Tokyo - Nikkei 225: DOWN 0.8 percent at 16,783.15 (close)

Shanghai - composite: UP 0.1 percent at 2,901.39 (close)

Hong Kong - Hang Seng: DOWN 0.7 percent at 20,011.58 (close)

New York - Dow: UP 0.4 percent at 17,073.95 (close)

Euro/dollar: UP at $1.1016 from $1.1013 on Monday

Dollar/yen: DOWN at 112.91 yen from 113.41 yen
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 china sends world markets sliding Arab Today, arab today china sends world markets sliding

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories for women

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories for women
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 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

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 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