Arab Today, arab today asian stocks sink euro near 9year low
Last Updated : GMT 14:04:02
Arab Today, arab today
Arab Today, arab today

Asian stocks sink, euro near 9-year low

Arab Today, arab today

Arab Today, arab today Asian stocks sink, euro near 9-year low

Asian markets
Hong Kong - AFP

Asian markets tumbled Tuesday following painful losses in New York and Europe while the euro sat near nine-year lows as political uncertainty in Greece fanned renewed fears it could leave the eurozone.
Oil prices, which fell below the psychological $50 a barrel mark in US trade, edged up marginally but remained under pressure owing to a global supply glut, weak demand and a stronger dollar.
Tokyo tumbled 2.50 percent, Hong Kong lost 0.89 percent, Sydney eased 1.67 percent, Seoul was 1.30 percent lower while Shanghai reversed earlier losses to gain 0.70 percent.
The first full week of the new year got off to a traumatic start for dealers as they bet a January 25 general election in Greece will see a victory for the the left-wing Syriza party.
Markets fear the party will roll back austerity measures required under the IMF-EU bailout of the country, which could in turn lead it to exit the eurozone.
The year is "barely three trading days old and already the two biggest themes that were predicted to affect the markets this year are making headlines: oversupply of commodities and the eurozone," Evan Lucas, a markets strategist in Melbourne at IG Ltd., wrote in an email to clients, according to Bloomberg News.
At the weekend, Der Spiegel quoted German government sources as saying they consider Greece's exit "almost inevitable" if Syriza wins the snap poll.
Chancellor Angela Merkel and finance minister Wolfgang Schaeuble had come to consider Athens' removal from the bloc would be "manageable", the magazine said.
However, investors were spooked and on Monday Greek stocks sank more than 5 percent, while the Paris, Madrid and Milan exchanges fell more than 3 percent.
- Oil below $50 a barrel -
The Dow dived 1.86 percent, the Standard and Poor 500 fell 1.83 percent and the Nasdaq lost 1.57 percent.
In currency trade the euro sank to $1.1864 Monday, its lowest level since March 2006. On Tuesday morning the single currency recovered slightly buying $1.1943.
The euro was meanwhile at 142.58 yen against 142.74 yen in US trade and well down from the 144.58 yen Friday.
Adding to downward pressure is increased speculation that the European Central Bank will buy eurozone government bonds to counter deflation risks.
The dollar was at 119.40 yen early Tuesday, compared with 119.61 in New York Monday and also well down from 120.46 yen Friday.
Oil prices were marginally up Tuesday after slipping below $50 for the first time in more than five years in New York.
US benchmark West Texas Intermediate for February delivery rose eight cents to $50.12 while Brent crude for February gained 14 cents to $53.25. WTI tapped $49.95 Monday.
The cost of crude has plunged since June as supplies outstrip demand with key consumer China slowing down, the eurozone struggling and the dollar, in which it is priced, strengthening.
A decision late last year by the Organization of the Petroleum Exporting Countries (OPEC) to maintain output despite the glut has also cut into prices.
"The fundamentals of oil are unlikely to change in the first half of this year, which will see oil bedding down into its bear market for months to come," IG's Lucas said.
Gold was at $1,203.59.40 an ounce, compared with $1,196.40 on Monday.

 

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 sink euro near 9year low Arab Today, arab today asian stocks sink euro near 9year low

 



Arab Today, arab today
Arab Today, arab today Kanye West puts hijab-wearing model

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week

GMT 09:15 2017 Friday ,17 February

Asia stocks retreat after week-long Trump rally

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday

GMT 21:18 2017 Thursday ,16 February

Chinese Yuan Strengthens to 6.8632 Against USD Wednesday

GMT 09:55 2017 Thursday ,16 February

Robust Omani Riyal exchange rate affirmed
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 17:36 2017 Monday ,13 February

Designer prepares to present 2017 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