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World stocks slump as Japans Nikkei loses 7
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 and unexpectedly weak Chinese manufacturing figures. Mixed messages ...
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Plunge in Japans Nikkei stock index sparks global sell-off
The Dow Jones industrial average shed 107.1 points, or 0.7%, to 15,200.07 shortly after the opening bell in New York. The broader Standard & Poor's 500 index tumbled 17.77 points, or 1.1%, to 1,637.58. The technology-heavy Nasdaq was off 33.37 points, or 1%, 3,429.93. Weak Chinese manufacturing data helped send ...
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Asian European Stocks Plunge on Weak Chinese Factory Data
Japan's Nikkei stock index tumbled 7.3 percent after release of the report showing Chinese factory production dropped in May for the first time in seven months. It was the biggest one-day loss since Japan's March 2011 tsunami and nuclear disaster. Stocks in London, Paris and Frankfurt followed suit, dropping about 2 percent. U.S. future indexes fell ahead of the opening of ...
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At the open TSX U.S. stocks slide as Nikkei plunge ignites fears
U.S. and Canadian stock markets opened with steep losses, as a breathtaking plunge in Japanese stocks overnight created concern that it could foreshadow a broader correction in global equity markets. A surprisingly weak economic report out of China, along with heightened worries that the U.S. Federal Reserve may soon start curtailing its massive bond-buying program, have given investors reason ...
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GLOBAL MARKETS-World shares slump on U.S. stimulus growth fears
Thu May 23, 2013 10:03am EDT * Signs Fed could taper bond-buying soon trigger share selloff * Weak Chinese factory, euro zone sentiment data add to concerns * Nikkei drops 7.3 pct, Wall Street opens lower * Yen gains over 2 pct against dollar and euro By Richard Hubbard LONDON, May 22 (Reuters) - World stocks fell and measures of investor risk aversion surged on Thursday on signs the U.S. ...
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Yamaha aims double digit market share in current fiscal
India's largest steelmaker by market value attributes the numbers mainly to steel demand in Europe, which has fallen by almost a third since ...
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Nikkei Tanks 7 U.S. Stocks Struggle For Support
Ben Bernanke testifying in front of Congress followed by the Fed minutes. Many investors, I think, were wary of those two events given the recent rhetoric about QE tapering, and it appears big institutional players elected to take some profits before and during those events yesterday. World markets reacted overnight to the major reversal in U.S. markets yesterday and are down big this morning. ...
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No need to panic on rupee front Raghuram Rajan
finance ministry said there was no need to panic, and RBI takes decisions on whether to intervene in forex markets or not to stabilise the local currency. "We are not the worst, but we are also not the best either in terms of depreciation...I won't say it is out of sync with what is happening in other countries...There is no panic-based need for new measures (on rupee)...I don't ...
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Rupee recovers after sinking below 56-mark
equities and exporters selling the American currency to book profits. The rupee resumed sharply lower at 55.85 a dollar from yesterday close of 55.46 on ...
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Indias Tata Steel reports loss on Europe weakness
NEW DELHI | Thu May 23, 2013 8:44am EDT NEW DELHI May 23 (Reuters) - Tata Steel Ltd, India's largest steelmaker by market value, swung to a loss in its fourth quarter, hit by weak demand in Europe, its top market and production region. The company's January-March net loss was 65.29 billion Indian rupees ($1.2 billion), compared with a 43.3 billion rupee profit a year earlier. ...
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Toyota may launch more cars compact SUVs in India
Toyota Motor Corporation will consider launching more small cars and entering fast growing segments like compact SUVs in order to achieve market leadership in India. The company, however, said in the absence of a clear cut Indian government policy relating the auto industry such as fuel policy and import tariff, it is adopting a wait and watch strategy before deciding on setting up of a new ...
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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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Chidambaram tries to calm stock markets says Fed statement misunderstood
In a bid to calm stock markets, Finance Minister P Chidambaram on Thursday said the Fed statement on the possible scaling back of the bond buying programme has been "misunderstood". The Sensex and Nifty slumped nearly 2 per cent on Thursday after U.S. Federal Reserve Chairman Ben Bernanke said a decision to scale back the Fed's massive bond-buying programme could be taken at ...
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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