Arab Today, arab today asian markets up ahead of key european summit
Last Updated : GMT 09:22:01
Arab Today, arab today
Arab Today, arab today

Asian markets up ahead of key European summit

Arab Today, arab today

Arab Today, arab today Asian markets up ahead of key European summit

Tokyo - AFP

Asian shares rose slightly Wednesday, clawing back earlier losses as markets waited for news of whether a concrete plan to tackle the eurozone\'s debt crisis will emerge at an EU summit later. Tokyo was up a notch by the break, Sydney added 0.4 percent, Shanghai gained 0.62 percent, Seoul added 0.11 percent, while Hong Kong was down slightly, off 0.11 percent. The uncertainty in the European Union has weighed on global commodity and equity markets for months, with Italy now joining Greece in the emergency room. The cancellation of an EU finance ministers\' meeting before Wednesday\'s summit hiked concerns that the high-level talks will fail to produce a deal to end a crisis that has threatened to plunge the world economy into recession. \"The cacophony of voices, shifting timelines and complexity of the problem lead us to remain cautious on the euro and risky assets until more about the next steps is known,\" Barclays Capital said in a note. RBS Morgans principal investment adviser Christopher Macdonald cautioned: \"I don\'t think people should be buying equities before the EU meeting.\" The eurozone wants to beef up its 440-billion-euro ($610 billion) rescue fund, the European Financial Stability Facility, to persuade markets it has the means to protect highly indebted nations such as Greece and Italy. Leaders also want to agree on a huge write-down on bondholders\' debt of stricken Greece and make sure banks have enough reserves to withstand losses. The 27-nation EU will meet first at 1600 GMT Wednesday to decide on the bank recapitalisation followed by a summit of the 17 eurozone leaders to, in theory, finalise their grand bargain. Sydney got a boost after government data showed inflation had eased to 0.6 percent in the third quarter, down from 0.9 percent in the previous three months and paving the way for a possible interest rate cut. The Aussie dollar slipped on the news, dropping from 104.32 US cents to 103.72 US cents in afternoon trade. US stocks slumped Tuesday on indications of a still-weak economy and worries over Europe\'s debt problems, with the Dow Jones Industrial Average losing 1.74 percent by the close. The tech-heavy Nasdaq Composite shed 2.26 percent while the broader S&P 500 lost 2.00 percent, snapping a three-session winning streak. Data released Tuesday showed US consumer confidence fell to its lowest level since March 2009, with third-quarter GDP data due Thursday. \"Consumer confidence is now back to levels last seen during the 2008-2009 recession, said Lynn Franco of the Conference Board. Shares in online retail giant Amazon plunged 12.68 percent in after-hours trading Tuesday after the US-based firm said its third-quarter net profit dived 73 percent from a year earlier. European shares had also lost ground, with bourses in London, Paris and Frankfurt all slipping by the closing bell Tuesday. The euro bought $1.3920 and 105.84 yen in Tokyo morning trade, marginally up from $1.3904 and 105.78 yen late Tuesday in New York. The dollar gained to 76.08 yen after falling to a new post-World War II low of 75.73 yen briefly in New York on Tuesday. That prompted further efforts by officials in Tokyo to talk the Japanese unit lower with intervention threats. \"I think we share this sense of crisis and I hope (the Bank of Japan) will act properly,\" Finance Minister Jun Azumi told reporters. His remark came after the Nikkei business daily reported the Japanese central bank would discuss additional monetary easing measures to help blunt the yen\'s impact on the economy when its policy board convenes Thursday. New York\'s main oil contract, light sweet crude for delivery in December, fell 31 cents to $92.86 per barrel, while Brent North Sea crude for December delivery shed 14 cents to $110.78. By 0445 GMT, gold was up at $1,710.67 an ounce, against $1,662.00 late Tuesday.

arabstoday
arabstoday

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 up ahead of key european summit Arab Today, arab today asian markets up ahead of key european summit

 



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 up ahead of key european summit Arab Today, arab today asian markets up ahead of key european summit

 



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 How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?

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