Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Markets

News : Markets

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

ASIA MARKETS: Asian Markets Skid After Wall Street Sinks Into Correction Territory

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/09/2018 | 02:20am CET

By Lucy Craymer

Nikkei leads losses, Kospi faces worst 4-day decline since 2012

The latest decline in global stocks moved to Asia Pacific on Friday after late heavy selling in the U.S. left the Dow Jones Industrial Average and S&P 500 in correction territory for the first time in two years.

Also pressured by renewed safe-haven flows into the yen, Japan's Nikkei Stock Average led the declines, skidding 3%. The index has slumped 9% since Monday, on pace for its biggest weekly drop since the heavy global selling seen in February 2016.

The dollar was recently at Yen108.70, nearly a full yen less than where it stood at Thursday's Tokyo stock-market close.

Indexes in Australia and New Zealand each fell 1.5% Friday -- both face their worst week in at least two years.

South Korea's Kospi , which had seen its biggest four-day decline since 2012 before rebounding some on Thursday, was down 2% early Friday.

The slump in U.S. stocks Thursday came despite Treasury yields moving little. Rising yields had been cited as a factor in equities' turn over the past week, but 10-year Treasury yields on Thursday remained about 2.85% -- around four-year highs.

Still, "the markets are trying to navigate the prospect of increased interest-rate hikes...as inflation potentially appears," said Stuart Ive, private client manager at OM Financial in Wellington. "As with any one-way bet, like equities have been since 2009, there comes a point where the game changes. This looks like now."

Meanwhile, Congress still needs to vote Thursday night on an agreement to keep the federal government from partially shutting down at midnight.

In commodities, oil futures fell another 1% in Asia on Friday after logging a similar decline in Thursday's global session. Iran announcing plans to increase output over the next three to four years was pressuring the market in recent hours, Ive said. Brent futures are about $64 a barrel, and he said if they fall back below $60, there may be some comments coming from members of the Organization of the Petroleum Exporting Countries.

Valeurs citées dans l'article
ChangeLast1st jan.
DJ INDUSTRIAL -0.67% 24797.78 Delayed Quote.0.99%
KOSPI COMPOSITE INDEX -0.39% 2416.62 Real-time Quote.-1.92%
NASDAQ 100 -0.30% 6759.2601 Delayed Quote.2.46%
NASDAQ COMP. -0.22% 7218.2279 Delayed Quote.1.60%
NIKKEI 225 -1.07% 21736.44 Real-time Quote.-7.08%
S&P 500 -0.55% 2701.33 Real-time Quote.2.19%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
09:44aEUROPE : European shares drop as earnings flurry fails to lift sentiment
RE
09:09aMARKET SNAPSHOT : Dow Futures Slide More Than 100 Points, As Fed-driven Jitters Persist
DJ
09:07aMARKET SNAPSHOT : Dow Futures Slide More Than 100 Points, As Fed-driven Jitters Persist
DJ
06:36aAsian stocks slip as U.S. rate risk sours sentiment, dollar holds gains
RE
06:32aStocks slip as U.S. rate risk sours sentiment, dollar holds gains
RE
05:41aASIA MARKETS : Asian Stocks Largely Slide Following Wall Street Selloff
DJ
04:25aASIA MARKETS : Asian Stocks Slide Following Wall Street Selloff
DJ
02/21MARKET SNAPSHOT : Dow Gives Up 300-point Gain To End Lower As Bond Yields Rise After Fed Minutes
DJ
02/21U.S. Crude-Oil Stocks Seen Increasing in DOE Data
DJ
02/21Stocks fall, yields and dollar rise after Fed minutes
RE
Latest news "Markets"
Advertisement