6 July, 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
ISLAM - MIDDLE EAST
Al Azhar and Vatican against terrorism. The ambiguity of the international community
by Bernardo CervelleraThe influential Sunni university denounces " heinous" violence of the Islamic state and demands the world defeat this group “through every possible means". Vatican: terrorism is a threat to all humanity. France claims to fight terrorism, but then sells weapons, aircraft, helicopter gunships to Saudi Arabia, which supports Islamic fundamentalism. Kuwait tolerates Salafis who support the Nusra Front and the Islamic state. Turkey against the Kurds; the United States against Iran, Russia and China.
TUNISIA - ISLAM
Tunis, stop terrorism by closing fundamentalist mosquesPresident Essebsi believes unified and global strategy needed to counter terrorism. The attack in Sousse almost simultaneous with those in France, Kuwait, Somalia. Islamic State claims responsibility.
VATICAN – ITALY
Pope in Turin tells young people to be chaste in love, go against the flow and not retire at 20In his last meeting on the first day of his visit to Turin, Francis met young people in Vittorio Square. In a Question and Answer exchange, he talked about love, friendship and loss of trust towards life. "I understand you. How many hypocrites speak of peace and sell weapons. How can one trust? By following Christ, whose act of extreme love, i.e. the Cross, saved humanity." The pontiff also looked at the horrors of the 20th century as evidence of the loss of trust towards world powers. He urged young people “not to retire at 20,” but “live, don’t just exist.”

Dossier

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.