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» Coronavirus Updates
Asian markets take breather but warnings of more volatility EmptyToday at 3:06 pm by The Invisible

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» Obituary Notice.
Asian markets take breather but warnings of more volatility EmptyYesterday at 6:21 pm by කිත්සිරි ද සිල්වා

» Access Engineering AEL Technical Analysis
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»  6000 Post Club , Celebration of a Great Milestone, Slstock
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» LIOC.N0000 (Lanka IOC PLC)
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» Sri Lanka to monetize tens of billions of contractor bills
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» CFVF - First Capital
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» RCL - Royal Ceramics
Asian markets take breather but warnings of more volatility EmptySat Jun 27, 2020 9:32 am by desh87

» Stocks - Banks Drag Wall Street Lower After Fed Buyback Ban; Dow Down 290
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» Sri Lanka plans US$4bn PPP for LRT in place of Japan funded soft-loan project
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» PABC.N0000 (Pan Asia Banking Corporation PLC)
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» JKH.N0000
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» Plantation sector updates
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» LOLC Holdings
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» Sri Lanka bank bad loans in March 2020 pick up to 5.1-pct
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» The Central Bank of Sri Lanka Further Reduces the Statutory Reserve Ratio
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» Sri Lanka tea prices pickup marginally mid June
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» Sri Lankans stock up, buy online in Covid-19 curfews, informal workers hard-hit: survey
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» Sri Lanka chicken supplies to tighten after Covid-19 crisis, maize import controls
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» S&P SL20 සමාගම් ලැයිස්තුවේ වෙනසක්.
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» HNB රුපියල් බිලියන 5ක ණය යෝජනා ක‍්‍රමයක් දියත් කරයි
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» SAMP.N0000 (Sampath Bank PLC)
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» HAYC - Haycarb
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» විශාලම ලැයිස්තුගත සමාගම් 50 විනිවිදභාවය පිළිබඳ වාර්තාවක් එළිදැක්වෙයි
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» HAYL.N0000 Hayleys PLC
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» GLAS.N0000 (Piramal Glass Ceylon PLC)
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» Sri Lanka bank forex funding pressures, bad loans to rise after Covid-19: Fitch
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» Sri Lanka telecom regulator asked find businesses to use Lotus Tower
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» Gota's Era
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» Fitch Revises Ratings on 11 Sri Lankan Financial
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» Carlton Sports Network to resume broadcasts soon – Rohan Welivita
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» සල්ලි අච්චු ගැසුවාද?
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» වටිනා පාඩමක්!
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» Sri Lanka’s General Election on August 05
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» Hayleys MGT
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» AEL Access Engineering
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» Sri Lanka import controls, cargo bottleneck hit apparel exporters
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» Sri Lanka tea prices ease lower, low growns drive May average to all time high
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» Sri Lanka plans to allow tourists from August, no mandatory quarantine
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» Sri Lanka makes trillion rupee mini-budget till August under Presidential powers
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» HHL.N0000 ( Hemas Holdings PLC)
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» LION.N0000 (Lion Brewery Ceylon PLC)
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» කොටස්--වෙළෙඳපොළ--වැසුවාද
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» United Motors
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Asian markets take breather but warnings of more volatility

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Asian markets take breather but warnings of more volatility Empty Asian markets take breather but warnings of more volatility

Post by The Invisible on Fri Oct 26, 2018 4:00 pm

AFP - Asian markets were mixed Friday as trade tensions and geopolitical worries kept investors from tracking a rebound on Wall Street, with observers warning of further volatility to come.

Trading floors were a little calmer in early business after a punishing week that witnessed steep losses across the board, with several indexes wiping out their year's gains as the tech and energy sectors took a beating.

New York's three main indexes provided some solace by posting healthy gains thanks to some upbeat earnings but they are still down from last Friday's close and there is a feeling the bottom has not been found yet.

Analysts said there is a concern that even US markets have succumbed to the hefty selling pressure, having managed to ride out much of the volatility this year thanks to the strengthening domestic economy.

However, dealers there are now feeling the pinch from the China-US trade row and rising interest rates.

"Unlike the previous sell-off in 2018 that tended to hit a sector or two at a time, the breadth of the latest rout (is) much more pronounced as it is heavyweight champions of the US markets that are leading the way," said Stephen Innes, head of Asia-Pacific trade at OANDA.

"Indeed, this sell-off is entirely different as on top of the mountains of geopolitical risk, US interest rates are rising quickly and mercilessly squeezing financial conditions."

He said markets were seeing intermittent gains because of bargain-buying and "everyone expects 2019 to be a real stinker".

And Con Michalakis, chief investment officer at Statewide Super, told Bloomberg TV: "You’re going to see a lot more volatility. It’s going to be a feature of this environment."

In morning trading Hong Kong fell 0.3 percent while Tokyo ended the morning down 0.2 percent. Shanghai was up 0.3 percent.

Sydney fell 0.1 percent, Singapore dived one percent and Seoul shed 1.3 percent but Wellington, Taipei, Manila and Jakarta were all in positive territory.

Energy firms enjoyed slight gains in Hong Kong and Japan but remain under pressure as oil prices retreat from their four-year highs seen at the start of the month, with a jump in US stockpiles and tensions with Saudi Arabia over the death of a journalist weighing on sentiment.

- Key figures around 0230 GMT -

Tokyo - Nikkei 225: DOWN 0.2 percent at 21,221.50 (break)

Hong Kong - Hang Seng: DOWN 0.3 percent at 24,929.27

Shanghai - Composite: UP 0.3 percent at 2,612.18

Euro/dollar: DOWN at $1.1363 from $1.1375 at 2100 GMT

Pound/dollar: UP at $1.2819 from $1.2817

Dollar/yen: UP at 112.41 from 112.37 yen

Oil - West Texas Intermediate: DOWN 56 cents at $66.77

Oil - Brent Crude: DOWN 42 cents at $76.47

New York - Dow: UP 1.6 percent at 24,984.55 (close)

London - FTSE 100: UP 0.6 percent at 7,004.10 (close)
The Invisible
The Invisible

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