1 March, 2015 AsiaNews.it Twitter AsiaNews.it Facebook            

Help AsiaNews | About us | P.I.M.E. | | RssNewsletter | Mobile





mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato
e-mail this to a friend printable version


» 11/06/2008
ASIA
Asian markets down: the recession eclipses the “Obama phenomenon”
All stock markets are negative, following Wall Streets closure yesterday at -5%. Oil prices drop. Large companies that trade with America and airlines worst hit by recession.

Hong Kong (AsiaNews) – All Asian stock markets are showing negative drops in the wake of Wall Streets closure yesterday at minus 5, despite euphoria over Barack Obama’s election victory.

Investors are convinced of a reduced American economy and a consequential reduction in trade leading to a long and deep recession. Data published yesterday show the private sector in the USA lost over 150 thousand jobs in October; in September it lost 26 thousand.

Japan's Nikkei share average slumped 5.7 per cent, led by high-profile exporters like Canon and Honda that are expected to be affected the most by a steep drop in overseas demand as consumers cut back spending. Seoul’s index was down 6.2 per cent, snapping a five-day winning streak. Consumer gadget maker Samsung Electronics and the world's fourth-largest steel producer Posco were the biggest drags on the index.

Sydney too lost 4%; while New Zealand opened on minus 1.45.

Taiwan stocks fell 5.10 per cent, triggering a new wave of selling despite local optimism for closer ties between Taiwan and mainland. Singapore shares were down 4.08 per cent.

By the end of morning trading Hong Kong lost 6.40%, dragged down by the drop in share value of the airline Cathay Pacific, down 13.3% in anticipation of a drastic cut in commodities.

Shanghai lost 2.5%; Jakarta 4.07; Kuala Lumpur 2.37; Bombay 3.31.

In morning trading the price of crude oil for December dropped by 27%, settling at 65.03 dollars a barrel.


e-mail this to a friend printable version

See also
11/07/2008 ASIA
Asian markets attempt rebound. Tokyo closes at – 3.6%
11/10/2008 ASIA
Asian markets rally in wake of Beijing rescue plan
11/14/2008 ASIA
Asian markets recover as G20 gets under way
11/11/2008 ASIA
Asian markets slide: recession stronger than stimulus plan
10/30/2008 ASIA
Asian markets up but recession fears remain

Editor's choices
EGYPT - ISLAM
What Tayeb and Sisi said is big step towards a revolution in Islam
by Samir Khalil SamirThe grand imam of Al-Azhar slammed literalist interpretations of the Qur'an and the Sunnah, as fundamentalists and Islamic terrorists do. He supports the urgent need for Islam's reform, especially in terms of teaching lay people and clerics. He also calls for an end to mutual excommunication (takfir) between Sunnis and Shias. Egyptian President al-Sisi chose to fight the Islamic state group after it beheaded 21 Coptic Christians, whom he called "Egyptian citizens" with full rights.
SAUDI ARABIA - ISLAM
For head of Al-Azhar, religious education reform is needed to stop Islamic extremismFor Ahmed al-Tayeb, it is urgent to come up with new educational programmes to avoid "corrupt interpretations" of the Qur'an and Sunnah. Islamic terrorism undermines the unity of the Muslim world. He blames Mideast tensions on a "new global colonialism allied to world Zionism". a speech by the Saudi king is read at the conference.
HONG KONG - CHINA - VATICAN
It looks like someone is trying to shout us down
by Card. Joseph Zen Ze-kiunThe widespread optimism concerning the dialogue between the Holy See and China is largely groundless. Some Chinese bishops unable to speak freely are asked "leading" questions. The key issues remain unresolved, namely episcopal appointments and the fate of the Chinese Catholic Patriotic Association. Benedict XVI's Letter to Chinese Catholics, also cited by Pope Francis, provides guidelines. No agreement is better than a bad agreement. What happened to Msgr. Cosma Shi Enxiang and Msgr. James Su Zhimin? Hong Kong's bishop emeritus, champion of religious freedom in China, delivers a vibrant reflection.

Dossier

by Giulio Aleni / (a cura di) Gianni Criveller
pp. 176
Copyright © 2003 AsiaNews C.F. 00889190153 All rights reserved. Content on this site is made available for personal, non-commercial use only. You may not reproduce, republish, sell or otherwise distribute the content or any modified or altered versions of it without the express written permission of the editor. Photos on AsiaNews.it are largely taken from the internet and thus considered to be in the public domain. Anyone contrary to their publication need only contact the editorial office which will immediately proceed to remove the photos.