Asian Stocks
Stocks in Asia were seen falling on Thursday after the US markets saw losses overnight on concerns that the global economy is expanding at a slower pace.
Retail sales in the US came in lower than forecasted, with sales dropping 0.3% in September, while analysts expected a decline of 0.1%, a report from the Commerce Department showed.
The US Federal Reserve is weighing on whether to raise interest rates amid concerns that the global economic growth will slow down.
In Japan, the benchmark Nikkei 225 index dropped 2.36% to 14,717.54 points, while Tokyo’s Topix index declined 2.21% to trade at 1,196.64 points.
The Japanese yen strengthened against the US dollar overnight, trading around 105.18 yen at the time of writing, weighing on exporters stocks.
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Financial stocks that saw losses included Mitsubishi UFJ Financial losing 3.5%, Daiwa Securities declined 4% and Mazda Motor went down 3%. Electronic manufacturers Sharp and Toshiba slumped 4% and 3.7% respectively.
Hong Kong’s Hang Seng index edged 1.09% lower to 22,888.27 points, while the Chinese benchmark Shanghai Composite fell 0.79% to 2,354.81 points.
In China, Datong Coal Industry slumped 6%, while Yunnan Aluminium went down 5.3% and China Oilfield Services declined 4.7%. Oil-giants, China Petroleum & Chemical Corp lost 1.8%, while material producer Jiangxi Copper edged 1.1% lower.
The South Korean Kospi index receded 0.77% to 1,911.12 points, while Australia’s S&P/ASX 200 index fell 1.06% lower to trade at 5,190.00 points around midday.
In Sydney, the nation’s largest miners slumped after iron prices weakened further. BHP Billiton lost more than 2%, while Rio Tinto declined 1.8% and Fortescue Metals went down 4%.
Europe Stocks
The European Euro Stoxx 50 went down 0.59% to 2,876.50, while the French CAC 40 lost 0.61% to 3,915.50 and UK’s benchmark FTSE 100 rose 0.07% to 6,207.10.
The German DAX 30 index eased 0.07% to 8,566.00, while the country’s consumer prices for September climbed 0.8% year-on-year, coming in line with the previous month’s reading.
Consumer prices for the Eurozone as a whole went up 0.3% in September on a yearly basis from the previous month’s 0.4% rise, a report from the European Statistical office Eurostat showed. Core inflation, which excludes food, alcohol & tobacco, went down to 0.8% from 0.9% last month.
Visit www.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today.
The post Stock Markets Report 16th October appeared first on | HY Markets Official blog.
