Arab Today, arab today world stock markets muted amid japan downgrade
Last Updated : GMT 02:43:52
Arab Today, arab today
Arab Today, arab today

World stock markets muted amid Japan downgrade

Arab Today, arab today

Arab Today, arab today World stock markets muted amid Japan downgrade

Bangkok - Arabstoday

World stock markets wavered on Wednesday after Moody’s downgrade of Japan’s credit rating and weak US home sales figures offset positive sentiment from a day of big gains on Wall Street.Oil prices hovered below $85 a barrel amid mixed signs about the strength of demand for crude. In currencies, the dollar was lower against the euro and the yen.European shares were higher in early trading. Britain’s FTSE 100 rose fractionally to 5,131.95. Germany’s DAX was 0.2 per cent higher at 5,544.87 and France’s CAC-40 rose 0.3 per cent to 3,097.62. Wall Street appeared to be headed lower. Dow Jones industrial futures were down 0.9 per cent at 11,036, while S&P 500 futures fell 1 per cent to 1,147.20. The mixed picture followed a day mostly of losses in Asia. Japan’s Nikkei 225 index fell 1.1 percent to close at 8,639.61 after opening higher early Wednesday. South Korea’s Kospi drooped 1.2 percent to 1,754.78. Hong Kong’s Hang Seng tumbled 2.1 percent to 19,466.79. Australia’s S&P/ASX 200 fell 0.1 per cent to 4,167.60 after spending much of the session in positive territory. Markets in Singapore, Taiwan and Indonesia also fell.Mainland Chinese shares were mixed with the benchmark Shanghai Composite Index falling 0.5 percent to 2,541.09 while the Shenzhen Composite Index edged 0.1 percent higher to 1,144.74. Shares in travel, food and drink-related companies led the gains in anticipation of a surge in demand during upcoming holidays. Shares in cement and real estate companies weakened on worries over more housing cooling measures.The sluggishness of Asian markets came as a bit of a surprise to some following strong buying momentum on Wall Street on Tuesday. “I am quite surprised most of Asia is down because we had a powerful rally on Wall Street,” said Dariusz Kowalczyk of Credit Agricole in Hong Kong. “But somehow, we are seeing some risk aversion. It may be related to the fact that there are declines in regional currencies and perhaps foreign investors are continuing to withdraw funds from the region.” He also said negative data about new home sales in the US on Tuesday may have rattled investor nerves in Asia. “Perhaps Asian investors have concluded that when the outlook for the U.S. is not that good, the outlook is not that good for Asia either,” he said.Sentiment was also dented after Moody’s Investors Service downgraded Japan’s credit rating to Aa3 from Aa2, citing weak growth prospects for the world’s No. 3 economy, massive government debt and constant political uncertainty. The new rating is three notches below Moody’s top Aaa rating. The downgrade, which puts Moody’s rating in line with other major credit rating agencies, is the latest blow for Japan after its economy remained mired in recession in the second quarter due to tumbling factory production and exports following the March 11 earthquake and tsunami.Mining shares sank after prices for gold and some other metals slipped Tuesday. Rio Tinto Ltd. lost 1.7 percent in Sydney. Australia’s Newcrest Mining Ltd. was 0.4 percent down. Zijin Mining Group, China’s largest gold miner, lost 1.6 percent. Australia’s Macarthur Coal Ltd. rose 1.2 percent after announcing it had nearly doubled its full year profit and repeated its advice to shareholders to reject a takeover offer from U.S energy giant Peabody Energy Corp. and Luxembourg-based steelmaker ArcelorMittal. Meanwhile, Hong Kong-listed China Life Insurance Co., the country’s biggest life insurer, plummeted 11.6 percent after announcing its first-half profit fell 28 percent from a year earlier as premium growth slowed and claims rose. Ping An Insurance Co. of China also fell. It was down 3.7 percent.In New York on Tuesday, buyers returned to the stock market, searching for bargains on the heels of better-than-expected manufacturing activity out of China and hopes that Federal Reserve Chairman Ben Bernanke may unveil new steps to help the economy. From / Gulf Today

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 world stock markets muted amid japan downgrade Arab Today, arab today world stock markets muted amid japan downgrade

 



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 world stock markets muted amid japan downgrade Arab Today, arab today world stock markets muted amid japan downgrade

 



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 O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes
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 Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
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 All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
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 Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
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 Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

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 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

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