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Post by The Invisible on Wed Nov 14, 2018 7:56 am

Tokyo stocks drop more than 3-pct after Wall Street plunge

Nov 13, 2018 06:58 AM GMT+0530


Tokyo, Japan | AFP | Tuesday - Tokyo stocks dived more than three percent shortly after the open on Tuesday, with investors discouraged by a plunge in US shares on fears over demand in the tech sector.

The Nikkei 225 index was down 3.47 percent, or 771.92 points, at 21,497.96 in early trade, while the broader Topix index was down 3.06 or 51.09 points at 1,620.86.

"The Tokyo market is being hit by the plunge in US shares, and news that Apple's iPhone sales are not going very well is also proving a blow," Hideyuki Suzuki, head of investment information department at SBI Securities, told AFP.

"The Tokyo market is hitting the second lowest level since October 26, when the Nikkei index dipped below 21,000," he noted, adding that share prices may bottom out.

The dollar fetched 113.63 yen in early Asian trade, down from 113.85 yen in New York late Monday.

In Tokyo, Apple's parts supplier Murata Mfg dropped 6.55 percent to 16,680 yen, while other electronic parts makers also plunged, with TDK dropping 7.10 percent to 8,890 yen and Alps Electric plummeting 8.37 percent to 2,441 yen.

US stocks crumbled on Monday, as a sell-off initially sparked by fears of weakening demand for Apple's iPhone spread to the rest of the market with the Dow ending down 2.3 percent at 25,387.18.
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Post by The Invisible on Fri Nov 23, 2018 9:10 am

Hong Kong, Shanghai stocks fall in early trade

AFP - Shares in Hong Kong and Shanghai opened lower on Friday, tracking falls in Europe after US markets were closed for Thanksgiving.

The Hang Seng Index shed 0.30 percent, or 79.06 points, to 25,940.35.

The benchmark Shanghai Composite Index fell 0.18 percent, or 4.76 points, to 2,640.67, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 0.14 percent, or 1.95 points, to 1,383.89.
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Post by The Invisible on Sat Nov 24, 2018 7:53 am

Oil prices sink on worries over excess supply, weak demand

AFP - Oil prices slumped Friday to lows not seen since last year as concerns over high crude supplies and uncertain economic growth triggered massive selling.

The petroleum slump, which took major oil contracts down to their lowest level since October 2017, comes as oil output remains high in the United States, Russia and Saudi Arabia and as some forecasters have trimmed their outlook for global growth, due in part to the US-China trade fight.

US oil benchmark West Texas Intermediate dropped $4.21 to $50.42 a barrel for January delivery, a decline of 7.7 percent.

In London, Brent oil futures for January delivery, slid 6.1 percent to $58.80 per barrel.

"The truth of the matter remains that rising global crude supply coupled with worrying signs of slowing demand have written a recipe for disaster for the oil markets," said Lukman Otunuga, a research analyst at FXTM.

Global stock markets were mixed, with major US indices retreating in part due to worries about lower oil prices and weak global growth.

Bourses in Paris and Frankfurt notched modest gains, while London, Shanghai and London all fell.

- Trump effect? -

High global oil production compared to demand was the top reason for Friday's selling, while the outlook for a weakening world economy led investors to conclude that growth would not be strong enough to soak up the surplus.

The retreat comes ahead of a meeting of the Organization of the Petroleum Exporting Countries in Vienna on December 6.

Some analysts view the organization as constrained following heavy pressure from US President Donald Trump on Saudi Arabia.

Earlier this week, Trump thanked Saudi Arabia for low prices and decided to essentially overlook the Central Intelligence Agency's reported conclusion over Crown Prince Mohammed bin Salman's involvement in the gruesome murder of journalist Jamal Khashoggi, a stance that has outraged White House critics.

"Although most analysts claim that this has to do with supply overhang and increased production from Russia and Saudi Arabia, the bottom line is that the US President keeps pushing for lower prices," said Fiona Cincotta, senior market analyst at City Index trading group.

"While this is the case it will be difficult to see a return to oil at a higher level unless oil cartel OPEC decides on a major output cut at its next meeting."

But Andy Lipow of Lipow Oil Associates predicted the "Saudis will decide in their best interest to cut production," adding that "it will not have an impact on the relationship with Washington because the US already said how this relationship was important and how important was the weapon business with the Saudis."

Still, Friday's drop in prices reflects market concern that OPEC production cuts are "not going to be enough to support prices," Lipow added.

The drop in oil prices reverberated in equity markets, with oil giants Chevron, Royal Dutch Shell and Total all shedding three percent or more on their local bourses.

Chinese shares also stumbled as Shanghai slumped by more than two percent, with the tech sector hit hard by a Wall Street Journal report that Washington is urging its allies to avoid using equipment from Chinese telecoms giant Huawei.

Worsening trade tensions between the United States and China have shattered confidence on global trading floors.

- Key figures around 1930 GMT -

Oil - West Texas Intermediate: DOWN $4.21 at $50.42 per barrel

Oil - Brent Crude: DOWN $3.80 at $58.80 per barrel

New York - Dow: DOWN 0.7 percent at 24,285.95 (close)

New York - S&P 500: 0.7 percent at 2,632.56 (close)

New York - Nasdaq: DOWN 0.5 percent at 6,938.98 (close)

London - FTSE 100: DOWN 0.1 percent at 6,952.86 points (close)

Frankfurt - DAX 30: UP 0.5 percent at 11,192.69 (close)

Paris - CAC 40: UP 0.2 percent at 4,946.95 (close)

EURO STOXX 50: UP 0.3 percent at 3,137.21 (close)

Tokyo - Nikkei 225: Closed Friday for holiday

Hong Kong - Hang Seng: DOWN 0.4 percent at 25,927.68 points (close)

Shanghai - Composite: DOWN 2.5 percent at 2,579.48 points (close)

Pound/dollar: DOWN at $1.2805 from $1.2877 at 2200 GMT Thursday

Euro/dollar: DOWN at $1.1331 from $1.1403

Dollar/yen: DOWN at 112.85 yen from 112.95 yen
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Post by nihal123 on Mon Nov 26, 2018 12:06 am

Thanks Invi
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Post by The Invisible on Thu Nov 29, 2018 10:34 am

US stocks surge as investors greet Powell speech

AFP - Wall Street toasted a speech by Federal Reserve Chair Jerome Powell on Wednesday hinting that interest rates might not rise much further, prompting the Dow's biggest gain since March.

Powell, in remarks to the New York Economic Club, charted a middle ground, saying rates still were still historically low but only "just below" the estimate of neutral -- a rate that neither stimulates nor restrains the economy.

Powell's characterization of interest rates as nearly normal "were the magic words," said Gregori Volokhine of Meeschaert Financial Services. "That's what the market wanted to hear."

The remarks were considered "dovish" in light of Powell's remarks last month that interest rates were "a long way from neutral."

US stocks opened higher and rallied more after Powell's speech, with the Dow Jones Industrial Average finishing up more than 600 points, or 2.5 percent, to 25,366.43.

Virtually all members of the blue-chip index advanced, with equities that had slumped recently, such as Apple and Boeing gaining 3.9 percent and 4.0 percent, respectfully.

Not everyone viewed Powell's remarks as a game-changer.

Ian Shepherdson, chief economist of Pantheon Macroeconomics, said markets were reading too much into Powell's statement and, given historically low unemployment, the Fed might have no choice but to keep raising rates.

Shepherdson estimated that the Fed was still three interest rate hikes from the middle of the range for "neutral."

But Sam Stovall of CFRA Research said Powell's remarks "has likely lit the fuse for an end-of-year celebration," especially if weekend talks between US President Donald Trump and Chinese leader Xi Jinping yield progress on trade.

European stock markets meanwhile were mostly steady at the close.

London's assessment that the UK will be worse off outside the EU than inside hardly came as a surprise, but its predictions of lost economic growth were actually more optimistic than many had feared.

"It is a relief that output would 'only' drop 3.9 percent in the long term, as some economists had predicted much severe economic damage from leaving the EU," said Fawad Razaqzada, a market analyst at Forex.com.

Oil prices dropped after the US reported a tenth straight weekly increase in stockpiles, adding to fears of an oil supply overhang.

- Key figures around 2140 GMT -

New York - Dow Jones: UP 2.5 percent at 25,366.43 (close)

New York - S&P 500: UP 2.3 percent at 2,743.78 (close)

New York - Nasdaq: UP 3.0 percent at 7,291.59 (close)

London - FTSE 100: DOWN 0.2 percent at 7,004.52 (close)

Frankfurt - DAX 30: DOWN 0.1 percent at 11,298.88 (close)

Paris - CAC 40: FLAT at 4,983.24 (close)

EURO STOXX 50: UP 0.1 percent at 3,168.29 (close)

Tokyo - Nikkei 225: UP 1.0 percent at 22,177.02 (close)

Hong Kong - Hang Seng: UP 1.3 percent at 26,682.56 (close)

Shanghai - Composite: UP 1.1 percent at 2,601.74 (close)

Pound/dollar: UP at $1.2824 from $1.2747 at 2200 GMT

Euro/pound: FLAT at 88.61 pence

Euro/dollar: DOWN at $1.1369 from $1.1289

Dollar/yen: DOWN at 113.65 yen from 113.79

Oil - Brent Crude: DOWN 98 cents at $59.42 per barrel

Oil - West Texas Intermediate: DOWN 77 cents at $50.79AFP - Wall Street toasted a speech by Federal Reserve Chair Jerome Powell on Wednesday hinting that interest rates might not rise much further, prompting the Dow's biggest gain since March.

Powell, in remarks to the New York Economic Club, charted a middle ground, saying rates still were still historically low but only "just below" the estimate of neutral -- a rate that neither stimulates nor restrains the economy.

Powell's characterization of interest rates as nearly normal "were the magic words," said Gregori Volokhine of Meeschaert Financial Services. "That's what the market wanted to hear."

The remarks were considered "dovish" in light of Powell's remarks last month that interest rates were "a long way from neutral."

US stocks opened higher and rallied more after Powell's speech, with the Dow Jones Industrial Average finishing up more than 600 points, or 2.5 percent, to 25,366.43.

Virtually all members of the blue-chip index advanced, with equities that had slumped recently, such as Apple and Boeing gaining 3.9 percent and 4.0 percent, respectfully.

Not everyone viewed Powell's remarks as a game-changer.

Ian Shepherdson, chief economist of Pantheon Macroeconomics, said markets were reading too much into Powell's statement and, given historically low unemployment, the Fed might have no choice but to keep raising rates.

Shepherdson estimated that the Fed was still three interest rate hikes from the middle of the range for "neutral."

But Sam Stovall of CFRA Research said Powell's remarks "has likely lit the fuse for an end-of-year celebration," especially if weekend talks between US President Donald Trump and Chinese leader Xi Jinping yield progress on trade.

European stock markets meanwhile were mostly steady at the close.

London's assessment that the UK will be worse off outside the EU than inside hardly came as a surprise, but its predictions of lost economic growth were actually more optimistic than many had feared.

"It is a relief that output would 'only' drop 3.9 percent in the long term, as some economists had predicted much severe economic damage from leaving the EU," said Fawad Razaqzada, a market analyst at Forex.com.

Oil prices dropped after the US reported a tenth straight weekly increase in stockpiles, adding to fears of an oil supply overhang.

- Key figures around 2140 GMT -

New York - Dow Jones: UP 2.5 percent at 25,366.43 (close)

New York - S&P 500: UP 2.3 percent at 2,743.78 (close)

New York - Nasdaq: UP 3.0 percent at 7,291.59 (close)

London - FTSE 100: DOWN 0.2 percent at 7,004.52 (close)

Frankfurt - DAX 30: DOWN 0.1 percent at 11,298.88 (close)

Paris - CAC 40: FLAT at 4,983.24 (close)

EURO STOXX 50: UP 0.1 percent at 3,168.29 (close)

Tokyo - Nikkei 225: UP 1.0 percent at 22,177.02 (close)

Hong Kong - Hang Seng: UP 1.3 percent at 26,682.56 (close)

Shanghai - Composite: UP 1.1 percent at 2,601.74 (close)

Pound/dollar: UP at $1.2824 from $1.2747 at 2200 GMT

Euro/pound: FLAT at 88.61 pence

Euro/dollar: DOWN at $1.1369 from $1.1289

Dollar/yen: DOWN at 113.65 yen from 113.79

Oil - Brent Crude: DOWN 98 cents at $59.42 per barrel

Oil - West Texas Intermediate: DOWN 77 cents at $50.79
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Post by The Invisible on Tue Dec 04, 2018 11:26 am

Asian markets slip as China-US trade deal joy subsides

AFP - Asian markets mostly dropped Tuesday as the previous day's euphoria over the China-US trade ceasefire gave way to questions about whether the two can ultimately resolve their differences.

However, oil prices continued to rise, building on Monday's surge fuelled by the agreement as well as news of a Russia-Saudi Arabia pact to cap output.

Global investors were given some much-needed Christmas cheer at the weekend after Donald Trump and Xi Jinping called a halt to their painful tariffs battle for 90 days while they try to resolve their differences.

The news lit a fuse under markets after a torrid year that has been dominated by the trade war between the world's top two economies, which many fear will hit global growth.

However, there is concern that the three month grace period will not be enough for them to hammer out agreements on key issues, particularly on intellectual property protection.

"Can the US and China really resolve their differences in 90 days?" asked Rodrigo Catril, senior strategist at National Australia Bank.

"It seems that more details and signs of progress will be needed if the initial trade truce warm fuzzy feeling is to be sustained."

Also, later Monday there was uncertainty about Trump's claims in a tweet that China had agreed to slash tariffs on car imports, with two of his top advisers unable to provide clarity on the issue.

- Oil extends gains -

"That's what happens when you don't have the detailed negotiations going into the summit" and end up with the "broad swath of a 35,000-foot deal," Bonnie Glaser, a China expert at the Center for Strategic and International Studies in Washington, said.

"It's risky. There's certainly no guarantees that it will produce the outcomes that we want."

Hong Kong dipped 0.3 percent, Tokyo fell 0.7 percent by lunch, Shanghai was 0.2 percent off and Sydney lost 0.6 percent.

Singapore and Seoul each dropped 0.5 percent, while Taipei eased 0.3 percent though there were gains in Wellington, Manila and Jakarta.

Still, Jeff Kleintop, chief global investment strategist at Schwab Center for Financial Research remained upbeat.

"It's easy to see the trade deal as a half empty (glass) -- that it's just a postponement and that they'll work together but that there really isn't any kind of resolution," he said. "But I think you can see it as a half glass full."

On oil markets both main contracts posted more healthy gains, adding more than one percent, having racked up gains of almost four percent Monday on the trade deal, the Russia-Saudi output agreement and a cut in production in Canada.

Focus is now on a meeting of OPEC and non-OPEC members in Vienna at the weekend, where they will reveal how much and for how long they will reduce as they look to stabilise the crude market.

On currency markets the pound is struggling to bounce back against the dollar as MPs prepare to debate Prime Minister Theresa May's Brexit deal as she struggles to win over enough people to support it.

Failure to push the agreement through parliament could bring down her government, fuelling more uncertainty in the country.

- Key figures around 0230 GMT -

Tokyo - Nikkei 225: DOWN 0.7 percent at 22,412.53 (break)

Hong Kong - Hang Seng: DOWN 0.3 percent at 27,106.64

Shanghai - Composite: DOWN 0.2 percent at 2,650.57

Oil - West Texas Intermediate: UP 62 cents at $53.57 per barrel

Oil - Brent Crude: UP 62 cents at $62.31 per barrel

Euro/dollar: UP at $1.1357 from $1.1353 at 2200 GMT

Dollar/yen: DOWN at 113.43 yen from 113.59

Pound/dollar: UP at $1.2730 from $1.2727

New York - Dow Jones: UP 1.1 percent at 25,826.43 (close)

London - FTSE 100: UP 1.2 percent at 7,062.41 (close)
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Post by The Invisible on Wed Dec 05, 2018 9:31 am

Asian markets track Wall St rout as confusion, uncertainty reign

AFP - Asian markets fell Wednesday following a rout on Wall Street, as investors were bombarded by a "perfect storm" of problems that erased the positivity seen at the start of the week.

The glum mood overshadowed hints from Donald Trump at more time to resolve the China-US trade row, as well as soothing comments from China about their desire to push on with a weekend agreement between the world's top economies.

Trading floors are awash with uncertainty over the agreement Trump hammered out with Xi Jinping to much fanfare -- and an initial market rally -- in Buenos Aires, with little clarity emerging and the US president shifting his tone.

While he hailed the deal at first, on Tuesday he warned on Twitter "remember, I am a Tariff Man", adding "When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so".

Then, in another tweet he left open the door to an extension of the agreement's 90-day timeline to end the row.

On Wednesday, China's commerce ministry called the pact "successful" and said it "will start with the implementation of the specific matters in which consensus has been reached, the sooner the better", without providing more details.

Adding to the mounting risks are concerns about the US economy after the difference in yields on two- and 10-year bonds narrowed, suggesting traders are increasingly concerned about longer-term prospects.

The are fears of an "inversion" where short-term yields overtake long-term rates, which in the past has been the precursor to a recession.

Wall Street suffered a battering, with the Dow slipping 3.1 percent, S&P 500 3.2 percent lower and Nasdaq 3.8 percent off.

The selling continued into Asia, where Hong Kong plunged 1.6 percent, Shanghai lost 0.8 percent and Tokyo ended the morning 0.4 percent down.

- Pound's Brexit woes -

Singapore shed 0.8 percent and Seoul was 0.6 percent off, while Wellington dived 1.3 percent. Sydney shed 1.2 percent after data showed the Australian economy grew at a slower pace than expected in July-September. The Australian dollar also sank more than one percent.

The selling "has all the nasty hallmarks that traders typically call the perfect storm," said Stephen Innes, head of Asia-Pacific trade at OANDA. He said investors "are probably left feeling duped, tricked and maybe even snookered by some ill-advised backslapping comments post G20".

"While trade war is certainly the number one driver of global risk sentiment, the current meltdown is morphing into a Hydra with familiar points of irritation -- trade, (Federal Reserve), Brexit, Italy, global growth -- coming to a head," he added.

On currency markets the pound continued to struggle on concerns that Britain could be heading for the EU exit without a deal, which most observers fear could hammer the economy.

Sterling hit a 17-month low Tuesday after Prime Minister Theresa May suffered stunning defeats in parliament that highlighted the uphill fight she has in pushing through her controversial Brexit deal.

If she loses there are expectations she will face a no-confidence vote and possible defeat that could force early elections and leave the country in chaos.

Oil prices were also down more than one percent after another jump in US inventories came as Saudi Arabia raised questions about the chances of an output cut at a meeting of OPEC and non-OPEC members at the weekend.

Energy Minister Khalid Al-Falih said it was "premature to say what will happen" in Vienna, days after Russian President Vladimir Putin had said the two major producers had agreed to a cap to support prices.

"We need to get together and listen to our colleagues, hear about their views on supply and demand and their projections of their own countries’ production," he said.

Crude had surged Monday and Tuesday after Putin's comments.

"It’s not a good price signal," Bob Yawger, director of futures at Mizuho Securities USA, told Bloomberg News. "Either demand is bad or all the talk about cutting production is just lip service."

- Key figures around 0230 GMT -

Tokyo - Nikkei 225: DOWN 0.4 percent at 21,946.94 (break)

Hong Kong - Hang Seng: DOWN 1.6 percent at 26,836.56

Shanghai - Composite: DOWN 0.8 percent at 2,644.40

Pound/dollar: DOWN at $1.2710 from $1.2713 at 2200 GMT

Euro/dollar: UP at $1.1337 from $1.1342

Dollar/yen: UP at 112.86 yen from 112.78

Oil - West Texas Intermediate: DOWN 57 cents at $52.68 per barrel

Oil - Brent Crude: DOWN 72 cents at $61.36 per barrel

New York - Dow Jones: DOWN 3.1 percent at 25,027.07 (close)

London - FTSE 100: DOWN 0.6 percent at 7,022.76 (close)
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Post by The Invisible on Mon Dec 10, 2018 11:21 am

Tokyo stocks open lower on trade war fears

Tokyo, Japan | AFP | Monday - Tokyo stocks opened sharply lower on Monday, taking a negative lead from New York where unease over the US-China trade war prompted a fresh sell-off late last week.

The benchmark Nikkei 225 index was down 2.20 percent or 476.53 points at 21,202.15 in early trade, while the broader Topix index was down 1.88 percent or 30.51 points at 1,589.94.

"The sharp decline in US shares on Friday is weighing on the Tokyo market," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

"Trading is sluggish as investors are on the sidelines ahead of Britain's vote on Brexit," Horiuchi told AFP.

On Friday, major US stock indices slumped more than two percent to conclude a bruising week for markets rattled by the US-China trade clash.

The Dow Jones Industrial Average ended down 2.2 percent and the broad-based S&P 500 slumped 2.3 percent.

The declines followed hawkish comments from White House trade advisor Peter Navarro, who told CNN that US President Donald Trump would "simply raise" tariffs on $200 billion worth of Chinese goods if trade talks fail.

The dollar changed hands at 112.71 yen in early Asian trade, against 112.68 yen in New York late Friday.

Nissan was down 1.75 percent at 956.2 yen in early trade as ousted chairman Carlos Ghosn is expected to be charged and face new allegations for alleged financial misconduct later in the day.

Steelmakers slumped on concerns over a US-China trade war. Nippon Steel & Sumitomo Metal lost 1.58 percent to 1,954 yen with JFE Holdings down 1.92 percent at 1,888 yen.
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Post by The Invisible on Wed Dec 12, 2018 12:18 pm

Tokyo stocks open higher on cheaper yen

Tokyo, Japan | AFP | Wednesday - Tokyo stocks opened higher on Wednesday helped by a cheaper yen and a rebound in European bourses after two days of declines amid lingering concerns over trade conflicts.

The benchmark Nikkei 225 index rose 0.87 percent or 183.06 points to 21,331.08 in early trade while the broader Topix index was up 0.82 percent or 12.88 points at 1,588.19.

"The Tokyo market is seen rebounding from recent drops thanks to a tailwind from rallies in European bourses and a halt in the appreciation of the yen" against the dollar, Okasan Online Securities said in a commentary.

Concerns over trade conflicts and Brexit as well as technical factors linked to the settlement of futures index trade "may prompt volatile stock movement" on Wednesday, it added.

The dollar fetched at 113.35 yen in early Asian trade, little changed from 113.40 yen in New York but up slightly from 113.10 yen in Tokyo late Tuesday.

In Tokyo, automakers were higher with Toyota advancing 1.21 percent to 6,827 yen and Honda up 1.62 percent at 3,070 yen.

Nissan rebounded 1.48 percent to 929.3 yen in early trade, after tumbling 3.10 percent on Tuesday and 2.90 percent on Monday after ousted chairman Carlos Ghosn was charged and faced new allegations of alleged financial misconduct.

Sony jumped 2.68 percent to 5,888 yen and Panasonic was up 2.95 percent at 1,081.5 yen.

In New York, US stocks were mixed with the Dow closing down 0.2 percent at 24,370.24 but the tech-rich Nasdaq closing up 0.2 percent.
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Post by The Invisible on Fri Dec 14, 2018 1:58 pm

Euro slides as 'downbeat' ECB warns on economy

AFP - The euro slipped on Thursday after the European Central Bank trimmed its growth forecast for the eurozone because of "mounting uncertainties" from within and outside the region.

ECB chief Mario Draghi said risks facing the area were now "moving to the downside," although that did not stop the bank from pulling the plug on its massive crisis-fighting economic stimulus known as quantitative easing, or QE.

"While Mario Draghi was boxed in by previous announcements about QE, his press conference revealed two stark truths –- he remains deeply concerned at the fragility of eurozone growth and reserves the right to administer further monetary stimulus," said JR Zhou, market analyst at online trading platform Infinox.

David Madden of CMC Markets, said "downbeat Draghi" weighed on the single currency.

Under its quantitative easing program, the ECB pumped 2.6 trillion euros ($3.0 trillion) into the eurozone economy in order to stoke growth and inflation.

Europe's major stock markets, meanwhile, held mostly steady, with "dealers still hopeful that Beijing and Washington DC are on the road to striking a deal" on trade, Madden said.

In New York, Wall Street had an indecisive day and the major indices eked out a split finish after bouncing between the black and the red -- continuing a streak of volatility sparked by the US-China trade war and geopolitical turmoil.

The Dow rose 0.3 percent but the tech-heavy Nasdaq fell 0.4 percent.

General Motors also sank 1.6 percent after US President Donald Trump again lashed out at the company and its CEO Mary Barra, renewing criticism of plans to cut jobs and close US manufacturing plants.

Elsewhere, the pound pushed higher, a day after British Prime Minister Theresa May won a vital confidence vote amid widespread discontent at her Brexit deal.

"Our view is that a 'no-deal' Brexit remains quite unlikely, despite all the recent political upheaval," Capital Economics said.

"With this in mind, we think that the risks are skewed to the upside for sterling."

Asian equities posted more gains as investors were cheered by conciliatory noises from China and the United States on trade.

While the tariffs row between Beijing and Washington is far from being resolved, there is a lot more optimism on trading floors that the world's top two economies can make headway in talks during their three-month truce.

Dealers mulled a report that Beijing was considering replacing its "Made in China 2025" program that aims to boost its technology sector, a key point for Washington.

That followed news China had agreed to resume importing soybeans -- a major boost for US farmers -- as well as remove a levy on US autos imposed earlier this year in response to Donald Trump's initial tariffs.

But US officials vow they will remain tough in the negotiations, and will "trust but verify."

- Key figures around 2130 GMT -

New York - Dow: UP 0.3 percent at 24,597.38 (close)

New York - FLAT at 2,650.54 (close)

New York - DOWN 0.4 percent at 7,070.33 (close)

London - FTSE 100: FLAT at 6,877.50 points (close)

Frankfurt - DAX 30: FLAT at 10,924.70 (close)

Paris - CAC 40: DOWN 0.3 percent at 4,896.92 (close)

EURO STOXX 50: UP 0.1 percent at 3,112.17 (close)

Tokyo - Nikkei 225: UP 1.0 percent at 21,816.19 (close)

Hong Kong - Hang Seng: UP 1.3 percent at 26,524.35 (close)

Shanghai - Composite: UP 1.2 percent at 2,634.09 (close)

Pound/dollar: UP at $1.2660 from $1.2629 at 2200 GMT

Euro/dollar: DOWN at $1.1361 from $1.1369

Dollar/yen: UP at 113.61 yen from 113.29 yen

Oil - Brent Crude: UP $1.30 at $61.45 per barrel

Oil - West Texas Intermediate UP $1.43 cents at $52.58
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Post by The Invisible on Fri Dec 21, 2018 9:53 am

Global stocks battered amid US budget brawl, Brent at $55

AFP - Global stocks plunged Thursday as worries about a possible US government shutdown compounded fears of slowing global growth that pushed oil prices to fresh multi-month lows.

Even before the specter of a US government shutdown reappeared, European and Asian bourses had fallen sharply after the US Federal Reserve again raised interest rates on Wednesday.

But US stocks retreated further on news of the latest impasse between President Donald Trump and congressional lawmakers on a stopgap budget bill over border security funding.

The Dow Jones Industrial Average closed the day 2.0 percent lower at 22,859.60, a loss of 460 points.

A bruising December has set up Wall Street for its worst year since the financial crisis. The S&P 500 is currently down 7.7 percent for the year and the Nasdaq is on the verge of a "bear market," which is a drop of 20 percent from its peak this year.

The revived possibility of a shutdown -- which also weighed on the US dollar -- worsened the downbeat mood on markets after the Fed announced another interest rate hike on Wednesday and made only subtle adjustments to the course of monetary policy tightening next year despite rising worries about global growth and a big pullback in the stock market.

However, US Treasury Secretary Steven Mnuchin said the market's response to the Fed went too far.

"I think clearly you have a situation here where the market has overreacted to the Fed's comments, and you see programmed trading taking over," Mnuchin said in an interview with Fox Business News.

And he said if inflation remains low, the Fed may not need to raise rates next year, even though the median forecast of central bankers is for two more increases.

Analysts also said the US indictment of two Chinese hackers tied to Beijing's security services reminded investors of the unsettled state of US-China trade relations.

"We have a trade war, the economy weakening, and now the possibility of a shutdown," said Peter Cardillo of Spartan Capital Securities. "All that is feeding by itself."

Earlier, the Nikkei plunged to a 15-month low after the Dow struck its lowest level of 2018 on Wednesday.

- Oil falls further -

In Europe, London's benchmark FTSE 100 index slid 0.8 percent, with losses capped by stronger-than-expected UK retail sales data.

In the eurozone, Frankfurt's DAX 30 shed 1.4 percent and the Paris CAC 40 slumped 1.8 percent. Both are near lows for the year.

Oil prices meanwhile continued to retreat on mounting worries over global growth.

US benchmark West Texas Intermediate slumped nearly five percent to $45.88 a barrel, its lowest level since July 2017.

On the corporate front, shares in Airbus plunged nearly 10 percent after French daily newspaper Le Monde said the European aircraft maker could face fines of several billion dollars under a US corruption probe, before recovering somewhat to end the day down 4.4 percent.

On Wall Street, Altria finished 1.9 percent lower after announcing it will buy a 35 percent stake in popular e-cigarette maker Juul for $12.8 billion, betting on a key growth market amid declines in conventional cigarette sales.

- Key figures around 2200 GMT -

New York - Dow: DOWN 2.0 percent at 22,859.60 (close)

New York - S&P 500: DOWN 1.6 percent at 2,467.42 (close)

New York - Nasdaq: DOWN 1.6 percent at 6,528.41 (close)

London - FTSE 100: DOWN 0.8 percent at 6,711.93 (close)

Frankfurt - DAX 30: DOWN 1.4 percent at 10,611.10 (close)

Paris - CAC 40: DOWN 1.8 percent at 4,692.46 (close)

EURO STOXX 50: DOWN 1.7 percent at 3,000.06 (close)

Tokyo - Nikkei 225: DOWN 2.8 percent at 20,392.58 (close)

Hong Kong - Hang Seng: DOWN 0.9 percent at 25,623.53 (close)

Shanghai - Composite: DOWN 0.5 percent at 2,536.27 (close)

Euro/dollar: UP at $1.1450 from $1.1376 at 2200 GMT

Dollar/yen: DOWN at 111.24 yen from 112.48 yen

Pound/dollar: UP at $1.2659 from $1.2610

Oil - Brent Crude: DOWN $2.76 at $54.48 per barrel

Oil - West Texas Intermediate: DOWN $2.29 at $45.88 per barrel
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Post by nihal123 on Fri Dec 21, 2018 8:35 pm

ස්තුතියි Invi
කොටස් වෙළඳපොලවල් පහළ යැමට හේතුව ඇමරිකාවේ ෆෙඩරල් සංචිත බැංකුව විසින් නැවත වරක් ඉලක්ක පොලී අනුපාතික ඉහළ දැමිම නේද?
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Post by The Invisible on Fri Jan 04, 2019 9:40 am

US stocks plunge after Trump nationalism hits Apple sales in China

AFP - Wall Street suffered another pummeling on Thursday following a downbeat outlook from Apple on China sales and surprisingly weak US manufacturing data.

The Dow Jones Industrial Average finished down 2.8 percent, or 660 points, at 22,686.22.

The broad-based S&P 500 slid 2.5 percent to 2,447.89, while the tech-rich Nasdaq Composite Index sank 3.0 percent to 6,463.50.

Apple plunged 10 percent to $142.19 in its worst session since 2013, losing almost $75 billion in market value.

The tech giant on Wednesday trimmed its sales forecast for the upcoming quarter, citing weak iPhone sales in China due in part to the US-China trade war.

That was followed Thursday by Institute for Supply Management data showing US manufacturing activity at a two-year low. The data still showed growth, but suggested the United States was seriously affected by a slowing global economy and global trade tensions.

The one-two developments "feed into the worries about the global growth rate," said Nate Thooft, a senior portfolio manager at Manulife Asset Management. "It does increase the anxiety people have."

Some analysts questioned the extent to which Apple's travails were reflective of broader macro trends as opposed to being company-specific.

But White House economist Kevin Hassett said Apple was not alone, telling CNN there were "a heck of a lot of US companies" exposed to the Chinese market that were likely to see earnings downgraded until Washington and Beijing resolved their differences on trade.

The Apple and ISM developments overshadowed ADP's employment report, which showed private-sector firms had added 271,000 jobs in December, well above analyst forecasts.

That data came ahead of Friday's more closely-watched Department of Labor report. Analysts expect the US added 180,000 jobs last month and unemployment held at 3.7 percent.

Drug company Celgene surged 20.7 percent after it reached a deal to be bought by the larger pharma company Bristol-Myers Squibb for $74 billion. Bristol-Myers fell 13.3 percent.

Airline shares slumped after Delta Air Lines trimmed its revenue forecast, describing customer demand in late December as "more modest than anticipated."

Delta plunged 8.9 percent, United Continental 5.0 percent and American Airlines 7.5 percent.
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