|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Sunday 07th of September 2008
March 10, 2008

Equities decline in Asia-Pacific, Europe, US


by Elaine Frei
Equities decline in Asia-Pacific, Europe, US

Tokyo’s equities markets were lower Monday. The Nikkei 225 was 1.96 percent lower to 12,532.13 while the Topix index fell 1.87 percent to 1,224.39 and the Mothers market dropped 6.39 percent to 594.11. Most other markets in the Asia-Pacific region were also down. The main exception to losses was Hong Kong’s Hang Seng, which added 0.91 percent to 22,705.05. The Sensex was down 0.32 percent to 15,923.72 while the Straits Times Index was 1.04 percent lower to 2,836.59. In Australia the S&P/ASX200 fell 1.59 percent to 5,180.4 and the Sydney Ordinaries dropped 1.74 percent to 5,275.7. The Kospi index was down 2.33 percent to 1,625.17 in South Korea while Taiwan’s Taiex was 2.72 percent lower to 8,299.37 and the Shanghai Composite dropped 3.59 percent to 4,146.3.

Markets in Europe were lower on the session as investors continued to worry about a recession in the United States. The pan-European FTSE Eurofirst 300 was down 1.16 percent to 1,254.75. Madrid’s IBEX was 0.29 percent lower to 12,655 while the Dax fell 1.01 percent to 6,448.08 and the CAC-40 dropped 1.13 percent to 4,566.99. In London, the FTSE 100 was down 1.24 percent to 5,629.1 while the FTSE 250 dropped 1.86 percent to 9,670.7.

Wall Street was lower in mid-afternoon trade. The Dow Jones Industrial Average was 0.97 percent lower to 11,777.84 while the Nasdaq Composite fell 1.43 percent to 2,180.92 and the S&P 500 dropped 1.25 percent to 1,277.14. Among the issues sending shares lower were disappointing quarterly results from companies exposed to credit-market losses, soaring oil prices, and broker downgrades in the financial sector. There was also news of a government investigation into one mortgage lender. There were gains among fast food chains on positive February sales reports in the sector.

Crude oil hit a new record high in New York trade while metals prices declined and grains prices were mixed.

The US dollar was higher versus the euro during the session but declined in relation to the yen and the pound.

Discuss this in the Finance Markets forums

Story link: Equities decline in Asia-Pacific, Europe, US


Add to Bookmarks:

ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL

 

 

Previous: « New housing projects decline
Next: Blackstone dives into the red following credit squeeze »

Visited 900 times, 1 so far today