Arab Today, arab today asian shares mixed after wall street losses
Last Updated : GMT 03:58:41
Arab Today, arab today
Arab Today, arab today

Asian shares mixed after Wall Street losses

Arab Today, arab today

Arab Today, arab today Asian shares mixed after Wall Street losses

Asian markets
Hong Kong - AFP

Asian markets were mixed Wednesday as bargain-buying was offset by the effects of a sell-off in New York and Europe in response to fresh data indicating weakness in the eurozone.
Japan's Nikkei returned from a public holiday to a stronger yen which put downward pressure on exporters.
Tokyo slipped 0.24 percent, or 38.45 points, to end at 16,167.45, while Sydney declined 0.74 percent, or 39.9 points, to 5,375.8. Seoul added 0.33 percent, or 6.73 points, to 2,035.64.
Shanghai rallied 1.47 percent, or 33.86 points, to 2,343.58, an 18-month high.
Hong Kong closed up 0.35 percent or 84.54 points at 23,921.61 following a better-than expected Chinese manufacturing report Tuesday.
US investors followed their European colleagues into retreat on Tuesday after a closely watched gauge of business activity in the 18-nation eurozone slipped again in September, fanning worries about the region's stuttering recovery.
The Markit Economics composite purchasing managers index (PMI) saw a second consecutive fall in September, hitting a nine-month low of 52.3 from 52.5 points in August. A reading above 50 suggests growth and anything below points to a contraction.
"The latest PMI data are testimony to the lacklustre nature of the eurozone's economic recovery," said ING analyst Martin van Vliet.
London's FTSE 100 tumbled 1.44 percent, Frankfurt's DAX 30 index dropped 1.58 percent and the Paris CAC 40 fell 1.87 percent.
Those losses filtered through to New York, where the Dow slipped 0.68 percent, the S&P 500 dropped 0.58 percent and the Nasdaq fell 0.42 percent.
They also came despite a better-than-expected pickup in HSBC's preliminary PMI for September.
On foreign exchange markets the dollar slipped to 108.57 yen from 108.87 yen in New York. However, while the greenback is well down from the levels above 109 yen it hit last week it was still hovering around six-year highs.
The euro fetched $1.2859 and 139.62 yen against $1.2850 and 139.91 yen.
"Investors will be naturally averse to place bets on risky assets after an overwhelmingly negative overnight session in both the US and Europe," Hiroichi Nishi, SMBC Nikko Securities' general manager for equities, told Dow Jones Newswires.
"But the dollar's continuing strength will help Japan stocks weather a major fall."
On oil markets US benchmark West Texas Intermediate rose 19 cents to $91.75 while Brent crude added one cent to $96.86 in afternoon trade.
Gold was at $1,224.28 an ounce against $1,226.0 an ounce late Tuesday.
In other markets:
-- Taipei tacked on 0.15 percent, or 13.59 points, to 9,098.49.
Smartphone maker HTC gained 1.14 percent to end at Tw$133.5, while Taiwan Semiconductor Manufacturing Co. was 0.41 percent higher at Tw$123.0.
-- Wellington rose 0.32 percent, or 16.73 points, to 5,258.17.
Air New Zealand was up 1.29 percent at NZ$1.97 and Contact Energy added 0.17 percent to NZ$5.92.
-- Manila closed 1.15 percent higher, adding 83.67 points to 7,355.29.
Megaworld Corp. rose 8.32 percent to 4.95 pesos while Philippine Long Distance Telephone gained 0.06 percent to 3,270 pesos. Alliance Global rose 3.41 percent to 25.80 pesos.

 

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