Sydney Ordinaries, S&P/ASX200 each add 1.1 percent
by Elaine Frei
Asia-Pacific region equities markets were mixed on Thursday after the US Federal Reserve cut US interest rates on Wednesday. In Hong Kong the Hang Seng added 0.45 percent to 31,492.88 after the Hong Kong Monetary Authority cut the overnight rate there by a quarter of a percentage point to 4.5 percent, following the Fed’s move. Australian markets were also higher and the Sydney Ordinaries and the S&P/ASX200 each were up by 1.1 percent, to 6,853.6 and 6,828.7 respectively. The ASX’s gain took that index to a record high. In Tokyo, the Nikkei 225 gained 0.79 percent to 16,870.4 and the Topix index added 0.97 percent to 1,635.78, but the Mothers market was down again by 1.42 percent to 930.65.
Decliners on the day in the region included the Straits Times index in Singapore, which fell 0.06 percent to 3,803.56, and South Korea’s Kospi index, down 0.08 percent to 2,063.14. In India the Sensex dropped 0.57 percent to 19,724.35. The Shanghai Composite was down 0.68 percent to 5,914.28 and Taiwan’s Taiex was 1.17 percent lower to 9,498.23.
Europe’s markets saw declines as banks were lower. The FTSE Eurofirst 300 dropped 1.55 percent to 1,570.92. The IBEX was down 0.82 percent to 15,759.6 while the Dax dropped 1.73 percent to 7,880.85 and the CAC-40 fell 2 percent to 5,730.92. Banks were also lower in London, where the FTSE 100 dropped 2.02 percent to 6,586.1 and the FTSE 250 fell 1.2 percent to 11,526.3.
Wall Street was lower in mid-afternoon trade on Thursday. The Dow Jones Industrial Average was down 1.57 percent to 13,711.83, while the Nasdaq Composite had dropped 1.11 percent and the S&P 500 was 1.38 percent lower to 1,527.93 as investors worried about future interest rate moves by the Federal Reserve and several bits of new economic data.
Crude oil prices were lower on profit-taking, while metals prices were mixed with most lower on the session. Grains prices were also lower on the day.
The yen and sterling were both stronger on the session.
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