Arab Today, arab today asian shares mixed dollar pushes higher
Last Updated : GMT 23:59:22
Arab Today, arab today
Arab Today, arab today

Asian shares mixed, dollar pushes higher

Arab Today, arab today

Arab Today, arab today Asian shares mixed, dollar pushes higher

Asian shares
Tokyo - AFP

Asian shares were mixed Tuesday morning with Tokyo buoyed by a weak yen but falling commodity prices raised fears about global growth as Chinese stocks slipped after a brief reprieve in their month-long rout.

Tokyo's benchmark Nikkei 225 index rose 0.43 percent, Hong Kong was up 0.23 percent, Seoul was flat, Sydney gained 0.14 percent, while Singapore edged down 0.06 percent.

Chinese shares fell sharply at the open as investors grew cautious after the market approached the key 4,000-point level, dealers said.

The benchmark Shanghai Composite Index dropped 1.64 percent while the Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 1.91 percent.

Both indices moved back into positive territory in later trading.  

The fresh volatility comes after Beijing launched a series of initiatives to staunch a bloodletting that saw a 30 percent plunge in Shanghai and trillions wiped off valuations.

Among the measures were a police crackdown on short-selling and a ban on big shareholders and company executives from selling stock for six months, adding to earlier announcements.

Meanwhile, dealers said a drop in commodities prices raised concerns about the global economy as crude oil briefly fell below $50 a barrel on Tuesday, and gold traded near a five-year low.

"This commodities rout is a very big concern,” Michael McCarthy, a chief strategist at CMC Markets in Sydney, told Bloomberg News.

"There's risk for a further downside. It looks like the overall global growth outlook is continuing to slow."

Investors were also keeping an eye on Greece where the government hiked taxes and paid billions of euros to its creditors on Monday, as banks reopened just days after the debt-laden country reached a bailout deal with its creditors.

In currency markets, the dollar was trading around a five-week high at 124.34 yen, against 124.30 yen in New York on Monday.

The euro bought $1.0825 and 134.61 yen, little changed from $1.0824 and 134.55 yen in US trading.

"The weaker yen and cheaper oil will have a positive effect on Japanese stocks," said Toshihiko Matsuno, chief strategist at SMBC Friend Securities Co. in Tokyo.

Eyes are now on Washington as the Federal Reserve considers when to hike interest rates from their record lows as the US economy gets back up to speed.

Last week Fed chief Janet Yellen said she saw a rise taking place before 2016 -- a rate hike is a plus for the dollar.

Meanwhile, the Bank of Japan and European Central Bank are spending hundreds of billions of dollars on bonds and other assets to support their respective economies, pushing down the value of the yen and euro.

On oil markets, US benchmark West Texas Intermediate for August delivery was down 10 cents to $50.05, after briefly dipping to $49.94, and Brent crude for September fell eight cents to $56.57 a barrel in morning Asian trade.

Gold fetched $1,103.54 after falling as low as $1,072 per ounce in Asia trade Monday.

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 mixed dollar pushes higher Arab Today, arab today asian shares mixed dollar pushes higher

 



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 mixed dollar pushes higher Arab Today, arab today asian shares mixed dollar pushes higher

 



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 Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
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 Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

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 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

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