Arab Today, arab today asian stocks mostly down tokyo sees late rally
Last Updated : GMT 10:35:06
Arab Today, arab today
Arab Today, arab today

Asian stocks mostly down, Tokyo sees late rally

Arab Today, arab today

Arab Today, arab today Asian stocks mostly down, Tokyo sees late rally

Asian stocks mostly down
Tokyo - AFP

 Asian markets mostly fell Wednesday but Tokyo reversed early selling to add to the 10 percent rally since the Bank of Japan's surprise monetary easing announcement last week.
The Nikkei's late advance came as the dollar hit a seven-year high against the yen in response to news Republicans had captured both houses of the US Congress and the head of the BoJ reasserted his determination to beat deflation.
Wall Street's lead was neutral following a disappointing batch of economic indicators, while the euro edged up despite news that the European Commission had slashed its growth outlook for this year.
Tokyo added 0.44 percent, or 74.85 points, to 16,937.32.
However, Seoul slipped 0.19 percent, or 3.76 points, to 1,931.43 and Shanghai gave up 0.47 percent, or 11.42 points, to 2,419.25. Sydney was flat, edging down 2.0 points to 5,517.9.
Hong Kong gave up 0.63 percent, or 150.04 points, to end at 23,695.62.
Japanese shares enjoyed a huge boost and the yen tumbled after the BoJ decision Friday, which will see vast sums of extra money pumped into the economy in a bid to tackle deflation and avert another recession.
Also fuelling the buying was news that the country's public pension fund -- the world's biggest -- will double the amount of equities in its investment portfolio.
While profit-taking pared some of the dollar's and the Nikkei's recent gains early Wednesday, news that Republicans had taken control of the Senate from Democrats sent both rising again.
Adding to yen-selling sentiment was a speech by BoJ boss Haruhiko Kuroda that indicated the bank was prepared to do whatever was needed to hit a 2.0 percent inflation target by next year.
"In order to completely overcome the chronic disease of deflation, medicine should be taken until the end," he said in Tokyo. "A half-baked medical treatment will only worsen the symptoms."
- Dollar surges against yen -
The dollar -- which stood at 113.57 yen early Wednesday in Tokyo -- jumped to 114.37 yen in the afternoon, its highest since December 2007
The euro was at 143.17 yen, against 142.61 yen earlier in the day.
The single currency was also at $1.2528 against $1.2545 in New York trade despite the European Commission's decision to cut its eurozone 2014 growth forecast to 0.8 percent from 1.2, and its 2015 estimate to 1.1 percent from 1.7 percent.
The focus is now on the European Central Bank's next policy meeting later this week, with analysts looking for some guidance on its plans for kick-starting the economy.
US shares ended broadly lower Tuesday after the Commerce Department said new orders for manufactured goods fell and the trade deficit widened.
Analysts also said last week's initial estimate of growth in the third quarter, which came in at 3.5 percent, was likely overstated by as much as 0.4 percentage points, and that the current quarter would be slower.
The Dow edged up 0.09 percent, the S&P 500 dropped 0.29 percent and the Nasdaq slipped 0.33 percent.
Oil prices extended their recent losses as dealers looked ahead to the release of the latest US supply report after a sell-off in the previous session owing to price cuts by Saudi Arabia.
US benchmark West Texas Intermediate for December delivery fell 49 cents to $76.70, while Brent crude for December fell 82 cents to $82.00 in afternoon trade.
WTI had dropped $1.59 in New York late Tuesday to hit its lowest closing point since October 2011, as dealers continued to digest Saudi Arabia's move to cut its prices for crude sold to the US markets.
Brent had fallen $1.96 in London to its lowest close since October 2010.  
Gold was $1,148.34 an ounce from $1,169.98 late Tuesday.
In other markets:
-- Taipei shed 0.30 percent, or 26.58 points, to 8,962.6.
Taiwan Semiconductor Manufacturing Co was unchanged at Tw$132.0, while leading chip design house MediaTek shed 1.73 percent to Tw$426.5.
-- Wellington fell 0.39 percent, or 21.11 points, to 5,402.15, ending a 12-day winning streak.
Chorus was off 0.48 percent at NZ$2.08 and Spark dropped 2.82 percent to NZ$3.10.
-- Manila ended 0.18 percent lower, slipping 13.20 points to 7,208.81.
Philippine Long Distance Telephone Co. slid 5.02 percent to 2,990 pesos while BDO Unibank gained 5.86 percent to 103 pesos.

 

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 stocks mostly down tokyo sees late rally Arab Today, arab today asian stocks mostly down tokyo sees late rally

 



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 stocks mostly down tokyo sees late rally Arab Today, arab today asian stocks mostly down tokyo sees late rally

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
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 Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today Saudi clerics use Twitter, textbooks

GMT 10:13 2017 Tuesday ,26 September

Saudi clerics use Twitter, textbooks
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
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 Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Mai Kassab happy for participating in new film

GMT 09:33 2017 Friday ,22 September

Mai Kassab happy for participating in new film
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 16:08 2017 Monday ,25 September

'World's heaviest woman' dies

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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