asian markets slip spooked by eurozone fears
Last Updated : GMT 08:57:03
Arab Today, arab today
Arab Today, arab today

Asian markets slip, spooked by eurozone fears

Arab Today, arab today

Arab Today, arab today Asian markets slip, spooked by eurozone fears

New York - AFP

Asian markets mostly fell Thursday and the euro sat around four-month dollar lows as eurozone fears reared again, with Italy\'s politicians still unable to form a government weeks after an election. The dollar also slipped as traders moved into the safety of the yen owing to growing uncertainty over the global outlook. Tokyo fell 1.26 percent, or 157.83 points, to 12,335.96 and Sydney slipped 0.57 percent, or 28.5 points, to close at 4,966.5, although Seoul was flat, edging 0.08 points higher. In the afternoon Hong Kong was 1.04 percent lower and Shanghai tumbled 2.57 percent, with banks hurt after China on Wednesday told them to step up controls on wealth management products in a bid to boost transparency. The losses followed a sell-off in Europe and the United States ahead of the reopening of banks in Cyprus after almost two weeks, under strict capital controls following the weekend\'s bailout that included a tax on some savings. \"Investors are not worried about Cyprus per se, as it comprises such a small component of Europe\'s GDP,\" SMBC Nikko Securities general manager of equities Hiroichi Nishi told Dow Jones Newswires. But they are concerned about \"the \'contagion effect\' of a possible run on banks spreading to other parts of the eurozone,\" he said. \"It may yet have broader implications for economies there and lead to a longer-lasting \'risk-off\' mentality,\" he added. In Italy centre-left leader Pier Luigi Bersani struggled to form a coalition after polls in February that saw an anti-austerity party burst on to the political scene, holding the sway of power. Bersani failed in talks with political parties to form a government after the anti-cuts Five Star Movement rejected his overtures. \"Only a mentally ill person could have an itching desire to govern right now,\" Bersani said during talks with the group, which he has repeatedly tried to woo. Business leaders and trade unions sounded the alarm this week over the parlous state of the eurozone\'s third largest economy, which is suffering its longest recession for 20 years. Adding to traders\' concerns was a rise in Italian borrowing rates for five-year debt to a five-month high as demand was weak in an closely watched auction. Renewed fears over the eurozone sent the single currency tumbling below $1.28 for the first time in four months in London on Wednesday and edging further in New York. In Asian trade Thursday it bought $1.2797, compared with $1.2779 late in New York Wednesday. It also fetched 120.54 yen from 120.63 yen. The dollar bought 94.20 yen, down from 94.40 yen in New York. On Wall Street the Dow fell 0.23 percent, the S&P 500 was flat and the Nasdaq added 0.12 percent. Shares also fell in Europe, with Frankfurt, Paris and Milan all losing around one percent. On oil markets prices rose, with New York\'s main contract, light sweet crude for delivery in May up 10 cents to $96.68 a barrel and Brent North Sea crude for May 25 cents higher at $109.94. Gold was at $1,604.50 an ounce at 0645 GMT compared with $1,594.10 late on Wednesday. In other markets: Taipei fell 0.35 percent, or 27.24 points, to 7,866.88. Hon Hai lost 0.96 percent to Tw$82.7 while Taiwan Semiconductor Manufacturing Company was 0.5 percent lower at Tw$100.0. Wellington rose 0.24 percent, or 10.70 points, to 4,422.75. Telecom rose 0.86 percent to NZ$2.34 and Contact Energy added 0.53 percent to NZ$5.70. Manila was closed for a public holiday.

arabstoday
arabstoday

GMT 03:16 2017 Saturday ,18 November

Asian markets head for positive end to volatile week

GMT 11:57 2017 Friday ,17 November

US stocks boosted by solid Wal-Mart, Cisco earnings

GMT 06:51 2017 Friday ,17 November

Bahrain Bourse daily trading performance

GMT 03:57 2017 Thursday ,16 November

Stock markets retreat as oil slides

GMT 15:05 2017 Wednesday ,15 November

Bahrain Bourse daily trading performance

GMT 02:47 2017 Wednesday ,15 November

Asian markets down as fears grow for US tax reform

GMT 19:56 2017 Tuesday ,14 November

Bahrain Bourse daily trading performance

GMT 02:48 2017 Saturday ,11 November

European stock markets fall further
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*

asian markets slip spooked by eurozone fears asian markets slip spooked by eurozone fears

 



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*

asian markets slip spooked by eurozone fears asian markets slip spooked by eurozone fears

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
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 Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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