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Gold Up 1.5 As Stocks Globally Fall After Nikkei Crashes 7.3
Today's AM fix was USD 1,386.00, EUR 1,074.92 and GBP 919.16 per ounce. Yesterday's AM fix was USD 1,385.25, EUR 1,071.43 and GBP 917.75 per ounce. Gold fell $10.20 or 0.74% yesterday to $1,367.60/oz and silver finished up 0.07%. Gold is up today while stock indices globally are sharply down after the Nikkei crashed 7.3%. The stock crash in Japan is leading to weakness in European ...
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Nikkei dives 7 ends below 14500
Tokyo’s Nikkei stock index tumbled more than 7 percent Thursday to end a roller-coaster trading session below 14,500 as selling triggered by weak Chinese data outpaced sharp gains made earlier and snapped a four-session winning streak. The 225-issue average closed down 1,143.28 points, or 7.32 percent, from Wednesday at 14,483.98, marking its steepest point fall since April 17, 2000, ...
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UPDATE 1-Japan govt Nikkei plunge temporary wont derail Abenomics
Thu May 23, 2013 7:52am EDT * Japan government puts brave face on Nikkei plunge * Government, investors agree trigger was China data, recent rise * Top spokesman says no change to 'Abenomics' * Biggest slide since 2011 quake, tsunami (Adds government officials, market analysis) By Tetsushi Kajimoto TOKYO, May 23 (Reuters) - The biggest plunge in Japanese stock prices since a 2011 ...
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Premarket Stock futures off lows after Nikkei plunge
Stock futures are suggesting significant losses when U.S. and Canadian markets open this morning, but not nearly to the same degree as what was seen overnight in Asia and so far this morning in Europe.Japan's Nikkei took a brutal fall overnight, losing more than 7 per cent in heavy volumes, as the value of the yen spiked as much as 2.3 per cent against the U.S. dollar. It was the biggest ...
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Markets roiled by Nikkeis 7.3 percent slide
A man walks past an electronic stock indicator showing the Nikkei 225 index which nosedived 1,143.28 points, or 7.3 percent to close at 14,483.98 in Tokyo Thursday, May 23, 2013. Japanese stocks plummeted Thursday after a spike in government bond yields and unexpectedly weak Chinese manufacturing spooked investors sitting atop months of massive gains in share prices. (AP Photo/Shizuo ...
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Global Markets Reel on Nikkeis 7.3 Slide
Financial markets around the world were roiled Thursday after Japanese stocks suffered their biggest slide since the country was hit by a devastating tsunami more than two years ago. Several reasons have been blamed for the 7.3 percent fall in the Nikkei index to 14,483.98, including a spike in Japanese government bond yields ...
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Japans Nikkei plunges 7.3
U.S. stocks tumbled Thursday after Bernanke spoke, Fed meeting minutes released U.S. stocks, which fell sharply Wednesday, were poised for more declines Thursday. Following a sharp sell-off in global markets, Dow Jones industrial average futures were 1% lower while the broader Standard &Poor's 500 futures fell 1.2%. The tech-laden Nasdaq composite index was down 1.1%.Those declines are ...
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Japanese shares plunge Nikkei closes down 7.3
Japanese shares plunged in Thursday’s trade – with the Nikkei closing down 7.3 percent and the Topix ending down 6.9 percent, its biggest fall since March 2011. One of the main drivers of the losses was data from China showing that manufacturing activity fell in May. Markets were also spooked by concerns that the US Federal Reserve might downscale its bond purchases. The Nikkei ...
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Japans Nikkei index slumps over 7
Japanese stocks plummeted today after a spike in government bond yields and unexpectedly weak Chinese manufacturing spooked investors sitting on top of months of massive gains in share prices. The Nikkei 225 in Tokyo slumped by 7.3% to close at 14,483.98, its worst drop since the 2011 tsunami. Japan's 10-year government bond yield rose above 1% for the first time in a year, unnerving ...
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Sensex plunges below 20k down 364 pts
Sensex on Thursday slumped below the 20,000 mark during mid-session by losing a whopping 364 points, on sustained selling triggered by weakness in other Asian bourses after US Federal Reserve Chief Ben Bernanke hinted at scaling down monetary stimulus. The 30-share index started the day on a bearish note at 19,971.37 and nosedived by 364.80 points to 19,697.40 at 1230hrs, with all the sectoral ...
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SBI Q4 profit falls shares drop
MUMBAI: State Bank of India, the country's largest lender, posted its first quarterly net profit drop in two years, missing market estimates after being dragged down by lower interest income and higher provisions for loan losses. The state-run bank posted net profit of 32.99 billion rupees ($593.76 million) in the January-March quarter, compared with 40.50 billion rupees in the same period ...
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Hang Seng ends 2.5pc lower
(37 mins ago) Hong Kong shares closed down 2.54 percent Thursday after weak Chinese data and signs the US Federal Reserve could soon start tapering off stimulus measures. The benchmark Hang Seng Index lost 591.4 points to 22,669.68 on turnover of HK$83.64 billion, AFP reports. Chinese shares closed down more than one percent after data showing manufacturing activity contracted in May for the ...
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European markets dive following Nikkei slump
(1 hr 6 mins ago) Europe's main stock markets slumped at the start of trading today, with Frankfurt and Paris down more than 2 percent following a plunge in Tokyo. London's benchmark FTSE 100 index slumped 1.42 percent to 6,743.32 points, Frankfurt's DAX 30 crashed 2.11 percent to 8,351.19 points and in Paris the CAC 40 shed 2.24 percent to 3,953.32, AFP reports. Tokyo ended ...
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Nikkei index futures fall below 14000 in after-hours trade
TOKYO | Thu May 23, 2013 4:57am EDT TOKYO May 23 (Reuters) - Japan's Nikkei index stock futures briefly dropped below 14,000 in after-hours trade, indicating possibly a further decline in the cash market on Friday after a 7.3-percent dive on Thursday. The index futures was last down 2.8 percent at 14,180. That compared with the benchmark Nikkei's close of 14,483.98 on ...
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State Bank of India Profit Falls More Than Expected
State Bank of India (500112.BY) posted a larger-than-expected 18.5% drop in net profit for the January-March period as it set aside more funds against bad loans, sending the shares of the country's biggest lender down as much as 7%.The bank posted a net profit of 32.99 billion rupees ($590.9 million), compared with 40.50 billion rupees a year earlier. The average of estimates from six ...
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ASIA CREDIT CLOSE Nikkei rout adds push to credit sell-off
Thu May 23, 2013 4:43am EDT SINGAPORE, May 23 (IFR) - A sell-off in Asian credit gained momentum after the Japanese stock market suffered a steep drop this afternoon. Investment-grade credits were already some 2bp wider in the morning as investors digested the content of Fed chairman Ben Bernanke's testimony last night to the US Congress. However, after lunch a 7.5%-plus drop in the Nikkei ...
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My Car A classic Toyota Land Cruiser turns heads in the UAE
Growing up in Yemen and spending most of his childhood seeing the 1979 Toyota Land Cruiser FJ40, Max Stanton admits he always wanted one. "The first time I ever went into one of these cars, I went to an island called Socotra, in Yemen. I must have been about 10 at the time. We flew there and there was no proper airplane. We were there for the first time ever and we needed a car to drive us ...
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Travel news Enjoy the new Shangri-La Bosphorus or a cool early summer in Tibet
The Shangri-La Bosphorus has just opened in a converted 1930s tobacco warehouse on the European side of the Bosphorus in Istanbul. Its guestrooms range from 42- to 60-square-metres in size, most with river views; 17 suites have private terraces. Istanbul's Shangri-La has a Chi spa and a signature Chinese restaurant, Shang Palace, all of which will be familiar to Abu Dhabi's residents. ...
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European stock markets slide after Nikkei plunges 7 - live
The Markit Composite PMI, which measures activity across the German economy, came in at 49.9, up from 49.2 in April (where a 50-point reading separates expansion from contraction) German manufacturing output rose slightly, but was balanced out by a small drop in services. And France's private sector kept shrinking, with a composite PMI of 44.3 -- a long way from that 50-point ...
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Why Quantitative Easing Isnt Printing Money
but it's obvious from the comments I received that I did not clear up these misunderstandings. So I'd like to explain in a bit more detail why quantitative easing (QE) is not printing money and why bank reserves aren't money. Let's take a look at the balance sheets of the actors involved. Here's what the T-accounts for the balance sheets of each institution, showing the ...
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Asian Debt Beware of Bubbles
Gresik is a small industrial town of fewer than 100,000 people, just to the north of Indonesia's second-largest city, Surabaya in East Java. But its position is critical. It sits near the Lombok Strait, the second most important shipping gateway between the Indian Ocean and the South China Sea and the vital trade route for fuel and resources between China and Australia. That is why AKR ...
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Perfect Storm Sparks Massive Nikkei Sell-Off
A perfect storm of yen strength, a spike in Japanese government bond yields and new evidence of weakness in China's economy were behind a major sell-off Thursday in Japan's equity markets, said experts. The ...
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Japans Gain Isnt South Koreas Pain
South Korea's economic problems aren't made in Japan. That isn't the way it looks in the two rival exporters' stock markets. Investors convinced that Japan's weakening yen will help its companies claw global market-share back from Korean competitors have bought almost $75 billion worth of Japanese stocks so far this year. Part of that appears to have come at the expense ...
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MFs garner over Rs 70000 crore in FY13
mutual funds in 2012-13 after pulling out money money from such schemes in the preceding two years. Market participants believes that buoyant stock market and a slew of reform measures taken by the government as well as regulator Sebi (Securities and Exchange Board of India) have helped the investors to mobilise funds in mutual fund industry. As per the latest data available with Sebi, there was ...
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Rupee plunges to over 8-month low
Tim Cook’s congressional debut, following an appearance at Obama’s State of the Union address in Feb, shows the iPhone maker can no longer afford to keep the low profile in ...
Hong Kong Feature
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Electoral reform hot topic for Hong Kong
Hong Kong is going through more growing pains, perhaps even the most uncomfortable since the city was handed back to Beijing by Britain. Pro-democracy advocates want to be able to vote for the entire legislative council, a direct challenge to Beijing.
Hong Kong was handed back to China in 1997. At that time, Beijing made an agreement with Britain that under a law called the Basic Law, all the civil liberties which were existent in Hong Kong at the time of the hand over would remain in place for at least 50 years, by which time it is envisioned, by the pro-democracy camp at any rate, that the Special Administrative Region will be fully democratic at any rate. Read more
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