Asia markets: Wall Street, US-China trade war, currencies in focus

Stocks in Asia slipped on Monday afternoon as investors remained cautious, following global losses in the previous week. In the Greater China region, the Hang Seng index in Hong Kong fell by around 1.32 percent as of 3:31 a.m. HK/SIN. In Japan, the Nikkei 225 fell by 1.87 percent to close at 22,271.30, while the Topix index slipped by 1.59 percent at 1,675.44, with most sectors ending the trading day lower. Meanwhile, South Korea’s Kospi also saw losses of 0.77 percent to close at 2,145.12, with


Stocks in Asia slipped on Monday afternoon as investors remained cautious, following global losses in the previous week. In the Greater China region, the Hang Seng index in Hong Kong fell by around 1.32 percent as of 3:31 a.m. HK/SIN. In Japan, the Nikkei 225 fell by 1.87 percent to close at 22,271.30, while the Topix index slipped by 1.59 percent at 1,675.44, with most sectors ending the trading day lower. Meanwhile, South Korea’s Kospi also saw losses of 0.77 percent to close at 2,145.12, with
Asia markets: Wall Street, US-China trade war, currencies in focus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: eustance huang
Keywords: news, cnbc, companies, asia, trading, bank, war, fell, china, currencies, wall, slipped, sectors, day, saw, street, losses, trade, focus, uschina, markets, close


Asia markets: Wall Street, US-China trade war, currencies in focus

Stocks in Asia slipped on Monday afternoon as investors remained cautious, following global losses in the previous week.

In the Greater China region, the Hang Seng index in Hong Kong fell by around 1.32 percent as of 3:31 a.m. HK/SIN.

The Shanghai composite also slipped by 1.49 percent to close at around 2,568.10 — its lowest since November 2014 — while the Shenzhen composite declined by 1.178 percent to end the trading day at about 1,281.08.

The moves in China came as new reserve requirements for lenders went into effect, in a move by the People’s Bank of China which is expected to inject 750 billion yuan (around $108.4 billion) into the banking system.

In Japan, the Nikkei 225 fell by 1.87 percent to close at 22,271.30, while the Topix index slipped by 1.59 percent at 1,675.44, with most sectors ending the trading day lower.

Meanwhile, South Korea’s Kospi also saw losses of 0.77 percent to close at 2,145.12, with industry heavyweight Samsung Electronics slipping by 0.45 percent and chipmaker SK Hynix falling by 2.9 percent.

In Australia, the benchmark ASX 200 fell around 1 percent to end the trading day Down Under at 5,837.1 with most sectors lower. The heavily weighted financial subindex fell 1.62 percent as major banking shares saw losses — Commonwealth Bank was down 2.09 percent, ANZ fell 1.85 percent, Westpac was lower by 1.59 percent and the National Australia Bank declined by 1.58 percent.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: eustance huang
Keywords: news, cnbc, companies, asia, trading, bank, war, fell, china, currencies, wall, slipped, sectors, day, saw, street, losses, trade, focus, uschina, markets, close


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Dow futures point to more than 300-point jump, regaining some of this week’s steep losses

Futures climbed as tech shares rose sharply in the premarket. On Thursday, Wall Street closed sharply down, with the Dow falling over 540 points, bringing its two-day losses to more than 1,300 points. Sentiment was rocked around the globe in recent sessions, as investors grew nervous over the rise in interest rates and high valuations in tech shares. These losses have sent the major indexes down more than 5 percent, on pace for their biggest weekly declines since March. Sentiment was also lifted


Futures climbed as tech shares rose sharply in the premarket. On Thursday, Wall Street closed sharply down, with the Dow falling over 540 points, bringing its two-day losses to more than 1,300 points. Sentiment was rocked around the globe in recent sessions, as investors grew nervous over the rise in interest rates and high valuations in tech shares. These losses have sent the major indexes down more than 5 percent, on pace for their biggest weekly declines since March. Sentiment was also lifted
Dow futures point to more than 300-point jump, regaining some of this week’s steep losses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: fred imbert, alexandra gibbs, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, steep, losses, point, futures, dow, sent, stock, fed, sharply, problem, rose, rates, trump, tech, interest, weeks, 300point, jump, regaining


Dow futures point to more than 300-point jump, regaining some of this week's steep losses

Futures climbed as tech shares rose sharply in the premarket. Amazon and Apple both rose more than 2 percent, while Netflix surged more than 3.5 percent. Facebook, meanwhile, gained 1.5 percent and Twitter jumped 2.6 percent.

The move higher on U.S. stock futures follows an uptick in global equities. In Europe, the German Dax gained half a percent while France’s CAC 40 climbed 0.7 percent. Asian equities also rose, with the Shanghai Composite surging 0.9 percent and Japan’s Nikkei 225 gaining 0.5 percent.

On Thursday, Wall Street closed sharply down, with the Dow falling over 540 points, bringing its two-day losses to more than 1,300 points. Sentiment was rocked around the globe in recent sessions, as investors grew nervous over the rise in interest rates and high valuations in tech shares.

President Donald Trump has recently criticized the U.S. Federal Reserve for the decline in stock markets, saying Wednesday that he wasn’t happy with how the central bank continued to raise interest rates.

“The problem I have is with the Fed. The Fed is going wild. I mean, I don’t know what their problem is that they are raising interest rates and it’s ridiculous,” Trump said during a telephone interview on Wednesday with Fox News. Trump went onto blame the Fed for the stock market decline on Thursday, but added that while he was disappointed, he wouldn’t remove Jay Powell as Fed chair.

Stocks have also fallen this week as tech — the biggest S&P 500 sector by market cap weight — has lost nearly 6.8 percent through Thursday’s close. These losses have sent the major indexes down more than 5 percent, on pace for their biggest weekly declines since March.

Sentiment was also lifted by stronger-than-expected third-quarter results from J.P. Morgan Chase, which sent the company’s stock up by more than 1 percent.


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: fred imbert, alexandra gibbs, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, steep, losses, point, futures, dow, sent, stock, fed, sharply, problem, rose, rates, trump, tech, interest, weeks, 300point, jump, regaining


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Why it’s never a good idea to sell when the market goes down quickly

Friday’s stock market rally is a good example of why it’s never a good idea to follow crowds on Wall Street, especially during sharp downturns. Panic-selling for long-term investors almost always ends poorly. Investors who kept their wits during the financial crisis ended up recouping not only all their losses but also were still around to participate in the longest-running bull market in history. It may well be that a look at your portfolio could show that your asset allocation has gotten out o


Friday’s stock market rally is a good example of why it’s never a good idea to follow crowds on Wall Street, especially during sharp downturns. Panic-selling for long-term investors almost always ends poorly. Investors who kept their wits during the financial crisis ended up recouping not only all their losses but also were still around to participate in the longest-running bull market in history. It may well be that a look at your portfolio could show that your asset allocation has gotten out o
Why it’s never a good idea to sell when the market goes down quickly Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: jeff cox
Keywords: news, cnbc, companies, investors, stock, good, theres, days, goes, sell, quickly, wrong, longterm, losses, decisions, market, idea


Why it's never a good idea to sell when the market goes down quickly

Friday’s stock market rally is a good example of why it’s never a good idea to follow crowds on Wall Street, especially during sharp downturns.

Panic-selling for long-term investors almost always ends poorly. Investors who kept their wits during the financial crisis ended up recouping not only all their losses but also were still around to participate in the longest-running bull market in history.

The market currently is amid a downturn that has taken it sharply lower from recent record highs, with the Dow Jones Industrial Average off nearly 5 percent in just the last week or so.

However, investors earlier this year saw a similar scenario play out. Markets went into correction mode following an inflation scare in late January and early February. Soon after, though, a rebound took the market to new highs.

Stocks rallied Friday, helping to erase some of the losses. While there’s no guarantee there won’t be some more substantial declines in the days ahead, it’s always best for long-term investo

As noted in my book “The 30-Minute Millionaire,” many investors panic and sell out of the stock market at the wrong time. This is a function of irrational investment decisions based on emotion.

Some basics to consider at times like these: Are fundamentals strong? What is the outlook for corporate earnings? How is the economy behaving? Where are interest rates?

It may well be that a look at your portfolio could show that your asset allocation has gotten out of whack. There’s nothing wrong with rebalancing and bringing your investments back into line with your long-term goals.

But basing those decisions on emotion and over what has happened over the course of a few days doesn’t make sense for those in for the long haul.

Watch the video above for more.


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: jeff cox
Keywords: news, cnbc, companies, investors, stock, good, theres, days, goes, sell, quickly, wrong, longterm, losses, decisions, market, idea


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Oil extends losses as other markets fall, inventories rise

Oil prices fell to two-week lows on Thursday as they extended big losses from the previous session amid a rout in global stock markets, with oil also taking a hit from an industry report showing U.S. crude inventories rose more than expected. Crude inventories climbed by 9.7 million barrels in the week to Oct. 5 to 410.7 million, compared with analyst expectations for an increase of 2.6 million barrels. In the U.S. Gulf of Mexico, producers have cut daily oil production by roughly 42 percent due


Oil prices fell to two-week lows on Thursday as they extended big losses from the previous session amid a rout in global stock markets, with oil also taking a hit from an industry report showing U.S. crude inventories rose more than expected. Crude inventories climbed by 9.7 million barrels in the week to Oct. 5 to 410.7 million, compared with analyst expectations for an increase of 2.6 million barrels. In the U.S. Gulf of Mexico, producers have cut daily oil production by roughly 42 percent due
Oil extends losses as other markets fall, inventories rise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11
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Oil extends losses as other markets fall, inventories rise

Oil prices fell to two-week lows on Thursday as they extended big losses from the previous session amid a rout in global stock markets, with oil also taking a hit from an industry report showing U.S. crude inventories rose more than expected.

Supply worries also eased as Hurricane Michael likely spared oil assets from significant damage as it smashed into Florida, even as it caused at least one death, injuries and widespread destruction.

Brent crude futures were down $1.22, or 1.5 percent, at $81.87 a barrel by 0237 GMT. They earlier touched their lowest since Sept. 28 at $81.61, after closing 2.2 percent lower on Wednesday.

U.S. West Texas Intermediate (WTI) crude futures were down by $1, or 1.4 percent, at $72.17, having also fallen to their lowest since Sept. 28. They dropped 2.4 percent in the previous session.

Stocks on major world markets slid to a three-month low on Wednesday, with the benchmark S&P500 stock index falling more than 3 percent, its biggest one-day decline since February.

Technology shares tumbled on fears of slowing demand and concerns about U.S.-China tensions. Japan’s Nikkei 225 was down nearly 4 percent on Thursday.

“Ugly, very very ugly,” Greg McKenna an independent market strategist based near Sydney said in a morning note, referring to declines in global markets including oil.

U.S. crude stockpiles rose more than expected last week, while gasoline inventories increased and distillate stocks drew, industry group the American Petroleum Institute said on Wednesday.

Crude inventories climbed by 9.7 million barrels in the week to Oct. 5 to 410.7 million, compared with analyst expectations for an increase of 2.6 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2.2 million barrels, API said. [API/S]

The U.S. Energy Information Administration (EIA) is due to release official government inventory data Thursday at 11 a.m. EDT.

In the U.S. Gulf of Mexico, producers have cut daily oil production by roughly 42 percent due to the storm, the Bureau of Safety and Environmental Enforcement said. The cuts represent 718,877 barrels per day of oil production.

While production has been cut because of the hurricane, “down time is expected to be brief and Gulf of Mexico output now accounts for a comparatively small portion of total U.S. production,” Jim Ritterbusch, president of Ritterbusch and Associates, said in a note.

U.S. oil output is expected to rise 1.39 million bpd to a record 10.74 million bpd, the EIA said in its monthly forecast on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2018-10-11
Keywords: news, cnbc, companies, rise, barrels, oil, inventories, fall, expected, rose, crude, week, extends, production, million, markets, losses


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Wall Street losses rip through global markets as rate fears shake investors

Global markets plunged Thursday, continuing steep losses seen in the previous session, as investors worry about rapidly rising interest rates and an expected slowdown in global growth. Overnight Dow Jones industrial average futures were down by 189 points as of 2:52 a.m. This after stocks sank Wednesday with the Dow plunging more than 800 points in its worst drop since February. Around the world, stocks have tumbled on the back of concerns surrounding global economic growth and rising interest r


Global markets plunged Thursday, continuing steep losses seen in the previous session, as investors worry about rapidly rising interest rates and an expected slowdown in global growth. Overnight Dow Jones industrial average futures were down by 189 points as of 2:52 a.m. This after stocks sank Wednesday with the Dow plunging more than 800 points in its worst drop since February. Around the world, stocks have tumbled on the back of concerns surrounding global economic growth and rising interest r
Wall Street losses rip through global markets as rate fears shake investors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: fred imbert, eustance huang, ryan browne, matt clinch, getty images
Keywords: news, cnbc, companies, seen, investors, points, street, wall, dow, yields, trump, stocks, week, rates, rate, global, losses, markets, rip, shake, fears


Wall Street losses rip through global markets as rate fears shake investors

Global markets plunged Thursday, continuing steep losses seen in the previous session, as investors worry about rapidly rising interest rates and an expected slowdown in global growth.

Overnight Dow Jones industrial average futures were down by 189 points as of 2:52 a.m. ET. Futures implied the Dow will open Thursday down by 280 points. This after stocks sank Wednesday with the Dow plunging more than 800 points in its worst drop since February. The VIX (the CBOE Volatility Index), which is seen as a fear gauge for the market, also hit a high of 20.58, its highest level since April 11.

Around the world, stocks have tumbled on the back of concerns surrounding global economic growth and rising interest rates. The International Monetary Fund warned earlier this week that simmering trade tensions, such as those between the U.S. and China, could lead to a “sudden deterioration in risk sentiment, triggering a broad-based correction in global capital markets and a sharp tightening of global financial conditions.”

Meanwhile, U.S. Treasury yields have this week climbed to multi-year highs. Traditionally a sharp rise in bond yields — the cost of borrowing — is seen as negative for major cooperates and their stock prices. President Donald Trump on Wednesday once again criticized the U.S. Federal Reserve, calling the central bank “crazy” for its insistence on hiking rates. Trump also commented on the plunge in markets, calling it a “correction that we’ve been waiting for for a long time.”


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: fred imbert, eustance huang, ryan browne, matt clinch, getty images
Keywords: news, cnbc, companies, seen, investors, points, street, wall, dow, yields, trump, stocks, week, rates, rate, global, losses, markets, rip, shake, fears


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Dow falls again, bringing 2-day losses to more than 1,000 points

The Dow Jones Industrial Average traded 200 points lower, bringing its two-day losses to more than 1,000 points. The S&P 500 dropped 0.8 percent and was on pace for a six-day losing streak. The major indexes briefly pared losses in late-morning trading as tech shares tried to rebounded from their worst day in seven years. Tech shares fell more than 4.5 percent on Wednesday, marking their worst day since 2011. The sell-off led to the Dow sinking more than 800 points and the S&P 500 dropping more


The Dow Jones Industrial Average traded 200 points lower, bringing its two-day losses to more than 1,000 points. The S&P 500 dropped 0.8 percent and was on pace for a six-day losing streak. The major indexes briefly pared losses in late-morning trading as tech shares tried to rebounded from their worst day in seven years. Tech shares fell more than 4.5 percent on Wednesday, marking their worst day since 2011. The sell-off led to the Dow sinking more than 800 points and the S&P 500 dropping more
Dow falls again, bringing 2-day losses to more than 1,000 points Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: fred imbert, alexandra gibbs, michael nagle, bloomberg, getty images, kirsty oconnor, nick wosika, icon sportswire, vcg, visual china group
Keywords: news, cnbc, companies, falls, 500, day, losses, dow, sp, points, 1000, yield, 2day, treasury, fell, worst, data, bringing


Dow falls again, bringing 2-day losses to more than 1,000 points

Stocks are getting slammed. Five experts weigh in on what to do now 2 Hours Ago | 04:57

Stocks fell in volatile trading Thursday, a day after the major indexes suffered steep losses sparked by higher rates and a sell-off in tech shares.

The Dow Jones Industrial Average traded 200 points lower, bringing its two-day losses to more than 1,000 points. The S&P 500 dropped 0.8 percent and was on pace for a six-day losing streak. The broad index also broke below its 200-day moving average for the first time since May. The Nasdaq Composite slipped 0.1 percent.

The major indexes briefly pared losses in late-morning trading as tech shares tried to rebounded from their worst day in seven years. Facebook rose more than 1 percent while Alphabet gained 0.8 percent.

Tech shares fell more than 4.5 percent on Wednesday, marking their worst day since 2011. The sell-off led to the Dow sinking more than 800 points and the S&P 500 dropping more than 3 percent. It was also the 28th time since 2011 the S&P 500 posted a more than 2 percent decline, according to data from Birinyi Associates.

“It’s a momentum correction, not a portfolio correction,” said Joe Terranova, chief market strategist at Virtus Investment Partners. “While we have a bias to believe 2008 could happen again, I don’t think this is the case.”

“Less is more in this environment,” Terranova added. “I think you need to be an observer of the guidance you get in earnings.”

Weaker-than-expected inflation data also helped stocks pare losses. The U.S. government said the consumer price index rose 0.1 percent in September, well below the expected gain of 0.2 percent.

These data pushed Treasury yields fell from multiyear highs. The 10-year Treasury note yield traded at 3.157 percent while the two-year yield slipped to 2.848 percent.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: fred imbert, alexandra gibbs, michael nagle, bloomberg, getty images, kirsty oconnor, nick wosika, icon sportswire, vcg, visual china group
Keywords: news, cnbc, companies, falls, 500, day, losses, dow, sp, points, 1000, yield, 2day, treasury, fell, worst, data, bringing


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The sell-off by the numbers: Stocks post worst 2-day stretch in eight months

Stocks sold off again on Thursday, adding to the previous session’s onslaught, as investors dumped equities around the globe because of fears of rapidly rising interest rates. The financials and energy sectors were the biggest laggards on Thursday, falling around 3 percent each. Tech shares like Apple, Alphabet and Netflix failed to rebound after posting steep losses. These losses dragged the indexes down, pushing them to their worst two-day decline in eight months. Check out some of the stats f


Stocks sold off again on Thursday, adding to the previous session’s onslaught, as investors dumped equities around the globe because of fears of rapidly rising interest rates. The financials and energy sectors were the biggest laggards on Thursday, falling around 3 percent each. Tech shares like Apple, Alphabet and Netflix failed to rebound after posting steep losses. These losses dragged the indexes down, pushing them to their worst two-day decline in eight months. Check out some of the stats f
The sell-off by the numbers: Stocks post worst 2-day stretch in eight months Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: gina francolla, christopher hayes, fred imbert, getty images
Keywords: news, cnbc, companies, stretch, losses, onslaught, twoday, months, selloff, numbers, thursdays, steep, stats, worst, 2day, tech, post, sold, stocks


The sell-off by the numbers: Stocks post worst 2-day stretch in eight months

Stocks sold off again on Thursday, adding to the previous session’s onslaught, as investors dumped equities around the globe because of fears of rapidly rising interest rates.

The financials and energy sectors were the biggest laggards on Thursday, falling around 3 percent each. Tech shares like Apple, Alphabet and Netflix failed to rebound after posting steep losses. These losses dragged the indexes down, pushing them to their worst two-day decline in eight months.

Check out some of the stats from the aftermath of Thursday’s onslaught:


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: gina francolla, christopher hayes, fred imbert, getty images
Keywords: news, cnbc, companies, stretch, losses, onslaught, twoday, months, selloff, numbers, thursdays, steep, stats, worst, 2day, tech, post, sold, stocks


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Tech shares recover some premarket losses as interest rates fall

Technology stocks regained ground lost earlier in premarket trading Thursday, after getting clobbered by the worst day in over seven years on Wednesday. Rising rates make high stock multiples of growth technology stocks less attractive because investors use U.S. government bond yields as their “risk-free” discount rate in financial models to value equities. Shares of Netflix closed down 1.5 percent, moving off a decline of 2.7 percent in premarket trading. Technology Select SPDR Fund, which trac


Technology stocks regained ground lost earlier in premarket trading Thursday, after getting clobbered by the worst day in over seven years on Wednesday. Rising rates make high stock multiples of growth technology stocks less attractive because investors use U.S. government bond yields as their “risk-free” discount rate in financial models to value equities. Shares of Netflix closed down 1.5 percent, moving off a decline of 2.7 percent in premarket trading. Technology Select SPDR Fund, which trac
Tech shares recover some premarket losses as interest rates fall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: michael sheetz
Keywords: news, cnbc, companies, shares, losses, fall, spdr, trading, recover, stock, sp, premarket, investors, interest, sector, technology, market, tech, rates, stocks


Tech shares recover some premarket losses as interest rates fall

Technology stocks regained ground lost earlier in premarket trading Thursday, after getting clobbered by the worst day in over seven years on Wednesday.

U.S. consumer prices rose less than expected in September. The index, a key economic indicator released at 8:30 a.m. ET, showed underlying inflation appeared to slow down. Rising rates make high stock multiples of growth technology stocks less attractive because investors use U.S. government bond yields as their “risk-free” discount rate in financial models to value equities.

Shares of Netflix closed down 1.5 percent, moving off a decline of 2.7 percent in premarket trading. Amazon and Nvidia also both sunk, down 2 percent and 4.3 percent, respectively. Stock of Twitter and Facebook rose slightly, while Apple slid 1.9 percent.

Technology Select SPDR Fund, which tracks the S&P 500 technology sector, closed down 0.7 percent, recovering after being down as much as 1.4 percent in premarket. The SPDR Fund is down about 4.6 percent this week.

The S&P 500 Information Technology Index fell 4.8 percent on Wednesday, closing at $1,220.62, marking the biggest decline since August 18, 2011 when it dropped 5.3 percent.

The largest U.S. companies by market capitalization are among those falling in the tech sector. These stocks have also been the biggest contributors to the extended market rally. Apple and Amazon are both up sharply this year, as investors have bet the companies will continue to deliver earnings growth and gain greater market share.

Amazon and Netflix technically fall in different sectors but investors were selling anything tech-related in the current market rout.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: michael sheetz
Keywords: news, cnbc, companies, shares, losses, fall, spdr, trading, recover, stock, sp, premarket, investors, interest, sector, technology, market, tech, rates, stocks


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Europe stocks close sharply lower as luxury, tech and mining firms lead the losses; LVMH down 7%

The pan-European Stoxx 600 closed provisionally down by 1.46 percent. Tech and basic resources were the two biggest losers on aggregate, but most sectors struggled amid fears over global economic growth and rising interest rates. The FTSE 100 in London closed lower by around 1 percent while Germany and France’s main markets both shed around 2 percent in overall value. Looking at individual companies, shares of luxury firms filled the bottom of the Stoxx 600 Wednesday. Other luxury brands were al


The pan-European Stoxx 600 closed provisionally down by 1.46 percent. Tech and basic resources were the two biggest losers on aggregate, but most sectors struggled amid fears over global economic growth and rising interest rates. The FTSE 100 in London closed lower by around 1 percent while Germany and France’s main markets both shed around 2 percent in overall value. Looking at individual companies, shares of luxury firms filled the bottom of the Stoxx 600 Wednesday. Other luxury brands were al
Europe stocks close sharply lower as luxury, tech and mining firms lead the losses; LVMH down 7% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: david reid, silvia amaro, ryan browne
Keywords: news, cnbc, companies, lvmh, lower, stocks, lead, fears, week, losses, firms, main, stoxx, luxury, global, valuelooking, 600, tech, closed, sharply, mining


Europe stocks close sharply lower as luxury, tech and mining firms lead the losses; LVMH down 7%

The pan-European Stoxx 600 closed provisionally down by 1.46 percent. Tech and basic resources were the two biggest losers on aggregate, but most sectors struggled amid fears over global economic growth and rising interest rates.

Investor sentiment has taken a hit this week after an IMF report lowered its global gross domestic product forecast for both this year and next. In the United States, fears that the Federal Reserve is ready to push the cost of borrowing higher has also had a knock-on effect to global markets.

The FTSE 100 in London closed lower by around 1 percent while Germany and France’s main markets both shed around 2 percent in overall value.

Looking at individual companies, shares of luxury firms filled the bottom of the Stoxx 600 Wednesday. LVMH ended down by 7.14 percent after reporting a slowdown in sales. Other luxury brands were also below the flatine, with Moncler off by 10.85 percent and Kering down by 9.62 percent. According to Reuters, Morgan Stanley cut its EU luxury goods sector rating to “underweight.”

Wirecard sat at the bottom of Europe’s main index after slipping more 14.2 percent. The German tech firm giving up all and more of Tuesday’s strong gains.


Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: david reid, silvia amaro, ryan browne
Keywords: news, cnbc, companies, lvmh, lower, stocks, lead, fears, week, losses, firms, main, stoxx, luxury, global, valuelooking, 600, tech, closed, sharply, mining


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Asia stocks fall following US political uncertainty, trade tensions

Asia markets were broadly negative on Tuesday morning, following the Dow Jones Industrial Average’s fall overnight amid political uncertainty in the U.S. In Australia, the ASX 200 suffered further losses to trade down by 0.25 percent as its major banks slid. Commonwealth Bank of Australia shares traded lower by 0.75 percent while Westpac Banking Corp fell by 1.1 percent. Mainland China markets fell following Monday’s public holiday. The Shanghai composite was down by 0.54 percent in the morning


Asia markets were broadly negative on Tuesday morning, following the Dow Jones Industrial Average’s fall overnight amid political uncertainty in the U.S. In Australia, the ASX 200 suffered further losses to trade down by 0.25 percent as its major banks slid. Commonwealth Bank of Australia shares traded lower by 0.75 percent while Westpac Banking Corp fell by 1.1 percent. Mainland China markets fell following Monday’s public holiday. The Shanghai composite was down by 0.54 percent in the morning
Asia stocks fall following US political uncertainty, trade tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-25  Authors: eustance huang
Keywords: news, cnbc, companies, trade, public, australia, composite, morning, stocks, losses, fell, westpac, following, markets, uncertainty, political, fall, tensions, asia


Asia stocks fall following US political uncertainty, trade tensions

Asia markets were broadly negative on Tuesday morning, following the Dow Jones Industrial Average’s fall overnight amid political uncertainty in the U.S.

In Australia, the ASX 200 suffered further losses to trade down by 0.25 percent as its major banks slid. Commonwealth Bank of Australia shares traded lower by 0.75 percent while Westpac Banking Corp fell by 1.1 percent.

Mainland China markets fell following Monday’s public holiday. The Shanghai composite was down by 0.54 percent in the morning while the Shenzhen composite also slipped by around 0.64 percent.

The Nikkei 225, on the other hand, made a recovery from its earlier losses to trade up by 0.12 percent, with semiconductor manufacturer Tokyo Electron rising 2.26 percent.

Markets in Hong Kong and South Korea are closed for public holidays.


Company: cnbc, Activity: cnbc, Date: 2018-09-25  Authors: eustance huang
Keywords: news, cnbc, companies, trade, public, australia, composite, morning, stocks, losses, fell, westpac, following, markets, uncertainty, political, fall, tensions, asia


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