Arab Today, arab today asian shares down as wall street tumbles on poor data
Last Updated : GMT 10:18:59
Arab Today, arab today
Arab Today, arab today

Asian shares down as Wall Street tumbles on poor data

Arab Today, arab today

Arab Today, arab today Asian shares down as Wall Street tumbles on poor data

Tokyo shares were down 1.02%
Tokyo - AFP

Asian shares fell on Thursday after Wall Street dropped on weaker-than-expected US economic data and a warning from Federal Reserve Chair Janet Yellen that stock valuations were "quite high".

Tokyo was down 1.02 percent after a three-day holiday, Sydney fell 0.70 percent, Seoul lost 1.69 percent, and Hong Kong slipped 0.70 percent.

Mainland Chinese markets were also down with Shanghai falling 1.76 percent.

Fresh US data was relatively weak. Non-farm productivity fell 1.9 percent in the first quarter year-on-year. It was the second straight quarterly fall.

Payroll firm ADP meanwhile reported the US added just 169,000 private-sector jobs in April, the second month in a row under 200,000, as the oil sector downturn continued to pinch the labour market.

The figures came ahead of Friday's highly anticipated Labor Department jobs report.

"The US economy was expected to bottom out in March and recover in the second quarter, but so far the figures for April have been poor," Mitsushige Akino, executive officer at Ichiyoshi Asset Management in Tokyo, told Bloomberg News.

"Sentiment could sour even more depending on the April payrolls report. Risk-off moves could intensify if the US economic situation is deemed weak."

Sentiment also took a hit as Yellen warned that US stock markets were at risk of overheating.

"There are potential dangers there," she told a conference, but added there was no rapid credit growth and "no signs of a financial bubble."

"I believe we are better positioned now" to see risks, Yellen added.

The comments help to dampen investors' spirits with the Dow Jones Industrial Average falling 0.48 percent, while the S&P 500 was down 0.45 percent and the Nasdaq Composite Index lost 0.40 percent.

Investors were also keeping a close eye the tense situation in cash-strapped Greece, after the European Union and International Monetary Fund hit back Wednesday at accusations by Athens that internal rifts were blocking a bailout deal.

The row burst into the open just as a feverish push by Athens to secure a deal spread across European capitals with Greek Finance Minister Yanis Varoufakis visiting Rome Wednesday before a visit to Spain on Thursday.

Oil prices were just off new 2015 peaks hit Wednesday after weekly data showed US commercial crude stockpiles unexpectedly slumped in the first decline in four months.

US benchmark West Texas Intermediate for June delivery slipped 53 cents to $60.40 a barrel, while Brent crude for June was off 49 cents to $67.28.

In currency markets, the dollar was steady against the yen and euro after dropping sharply in New York on the weak US data, which raised more questions about whether a Fed interest rate hike would be pushed back.

The greenback fetched 119.55 yen in Asian trade Thursday, against 119.44 yen in New York.

The euro inched down to $1.1336 and 135.50 yen, compared with $1.1348 and 135.54 yen in US trade.

Gold fetched $1,188.07 against 1,189.70 late Wednesday.

 

 

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 shares down as wall street tumbles on poor data Arab Today, arab today asian shares down as wall street tumbles on poor data

 



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 shares down as wall street tumbles on poor data Arab Today, arab today asian shares down as wall street tumbles on poor data

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
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 Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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