Arab Today, arab today asian markets down with us japan britain in focus
Last Updated : GMT 18:22:38
Arab Today, arab today
Arab Today, arab today

Asian markets down with US, Japan, Britain in focus

Arab Today, arab today

Arab Today, arab today Asian markets down with US, Japan, Britain in focus

Asian shares turned lower on June 10
Hong Kong - AFP

Asian shares turned lower Friday following losses in New York and Europe as traders fret over the state of the global economy, with potentially big market-moving events coming into focus.

After a healthy run of recent gains helped by rising oil prices, investors took a step back as the head of the European Central Bank (ECB) called for action to kickstart eurozone growth -- which was taken as a sign its own arsenal is running low.

Mario Draghi said the cost of delaying reforms would be "simply too high".

His comments follow an indication from Federal Reserve boss Janet Yellen that it will likely not lift interest rates until the fourth quarter, while other central banks have either announced or are contemplating cuts. 

Attention is now on next week's policy meetings of the US and Japanese central banks.

The Bank of Japan earlier this year adopted a negative interest rate policy, following a similar move in 2015 by the ECB, in a bid to nurture investment. But the move has been criticised as being ineffective and some lenders say their bottom lines are being hit.

Also, there are fears that a British referendum on its European Union membership on June 23 will see a vote to leave, which many fear could unleash a wave of turmoil across world markets.

"The market is looking at a very small chance of the Fed moving next week," Chris Green, the Auckland-based director of economics and strategy at First NZ Capital Group, told Bloomberg News.

"While that’s been supportive of risk assets, a delay in the Fed rate hike is also a reflection of weaker economic backdrop. Further weakness in US economic data along with the potential for (a British EU exit) would be a cause for concern."

Japan's Nikkei ended the morning session 0.5 percent lower, while Hong Kong was off 0.4 percent after returning from a one-day public holiday. Sydney shed one percent and Seoul was 0.4 percent lower, while there were also losses in Singapore and Wellington.

Oil prices drifted lower for a second day as investors booked profits from a recent surge that has seen the commodity touch 11-month highs.

In the morning West Texas Intermediate dipped 0.2 percent to $50.50, having Thursday hit its highest level since July. Brent was down 0.1 percent at $51.90.

However, with the dollar unlikely to pick up any time soon -- which makes crude cheaper for holders of other currencies -- analysts are tipping the black gold to break the $55 barrier soon.

- Key figures around 0230 GMT -

Tokyo - Nikkei 225: DOWN 0.5 percent at 15,586.71 (break)

Hong Kong - Hang Seng: DOWN 0.4 percent at 21,212.07

Shanghai - Composite: Closed for a public holiday

Euro/dollar: DOWN at $1.1300 from $1.1315 late Thursday

Dollar/yen:  UP at 107.21 yen from 107.10 yen

Pound/dollar: UP at $1.4454 from $1.4453

New York - Dow: DOWN 0.1 percent at 17,985.19 (close)

London - FTSE 100: DOWN 1.1 percent at 6,231.89 (close) 

arabstoday
arabstoday

GMT 05:41 2017 Tuesday ,23 May

Tadawul index stays almost flat

GMT 20:24 2017 Saturday ,20 May

US Stocks Close Higher

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
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 down with us japan britain in focus Arab Today, arab today asian markets down with us japan britain in focus

 



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 down with us japan britain in focus Arab Today, arab today asian markets down with us japan britain in focus

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show

GMT 05:41 2017 Tuesday ,23 May

Tadawul index stays almost flat

GMT 20:24 2017 Saturday ,20 May

US Stocks Close Higher

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
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