Arab Today, arab today most asia markets bounce from losses tokyo sinks on return
Last Updated : GMT 16:23:20
Arab Today, arab today
Arab Today, arab today

Most Asia markets bounce from losses, Tokyo sinks on return

Arab Today, arab today

Arab Today, arab today Most Asia markets bounce from losses, Tokyo sinks on return

Tokyo stocks tumbled 2.34% by lunch
Hong Kong - AFP

Asian markets mostly recovered Thursday from the previous day's sharp losses but Tokyo tumbled as investors returned from a long weekend to play catch-up, with auto giants hit by the Volkswagen scandal.

The dollar edged up against most emerging market currencies ahead of a closely watched speech later in the day by Federal Reserve chief Janet Yellen, during which markets hope she will provide more clarity on the bank's plans for an interest rate hike.

Stocks and other high-yielding, or riskier, assets took a hit after the Fed's decision last week to hold -- citing China's woes and a developing market slowdown -- fanned concerns about the US and global economy.

Those worries were exacerbated Wednesday when a closely watched gauge of Chinese manufacturing activity for September hit a six-and-a-half-year low, the latest ion in a string of results highlighting a severe slowdown in the world's number two economy.

The news sent shares in Asia plunging -- with Shanghai and Hong Kong down more than two percent -- followed by losses in New York.
On Thursday, however, investors in most stock markets turned buyers, with Shanghai up 0.75 percent, Sydney adding one percent and Seoul 0.42 percent higher. However, Hong Kong continued to drop, shedding 0.44 percent.

Tokyo tumbled 2.34 percent by lunch as trading began for the first time since Friday owing to a three-day public holiday.

"Japanese markets have still got some catch up to do after the uncertainty that’s been washing through global markets," Tony Farnham, a strategist at Patersons Securities in Sydney, said.

"The issue is gauging the extent of the slowdown in China and the ongoing debate about whether the Fed is doing the right thing" on when to raise interest rates.

- VW scandal hits cars -

Automakers were among the big losers on Japan's Nikkei as the industry is rocked by the Volkswagen emissions scandal.
Toyota fell 1.44 percent while Honda plunged 3.21 percent and Nissan was off 1.40 percent by the break.

German giant Volkswagen has lost a third of its value this week in Frankfurt after it emerged it had installed in as many as 11 million diesel cars software capable of fooling official pollution tests.

"We expect the market to consider the situation to be a risk factor for Japanese carmakers as well," said Heo Pil Seok at Midas International Asset Management in Seoul.

Attention will now turn to Yellen's speech later in the day, her first since last Thursday when she warned about the troubles in overseas markets.

Dealers will be looking to see if she sheds any more light on when the bank will lift borrowing costs, with some economists saying a lack of clarity is worse for global markets than an actual hike.

While the dollar initially retreated after the decision, it has risen this week against most emerging currencies after three Fed regional presidents argued for a liftoff by 2016 saying the US economy was strong enough.

And it extended those gains in Asia Thursday. The Australian dollar was 0.05 percent lower, the South Korean won eased 0.11 percent, Indonesia's rupiah lost 0.19 percent and Malaysia's ringgit sank almost one percent.

Economists expect a rise in interest rates would likely see a flight of cash from emerging economies as investors look for better and safer returns in the United States.

-- Bloomberg News contributed to this story --

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 most asia markets bounce from losses tokyo sinks on return Arab Today, arab today most asia markets bounce from losses tokyo sinks on return

 



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 most asia markets bounce from losses tokyo sinks on return Arab Today, arab today most asia markets bounce from losses tokyo sinks on return

 



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 Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
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 Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
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 Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

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