الإثنين , يونيو 15 2020

Nikkei leads Asian markets down

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Nikkei 225 Index

Last Updated at 06 Jan 2015, 00:15 ET

*Chart shows local time

Nikkei 225 one month chart

Japan’s stocks led falls across Asia on Tuesday, posting their biggest drop in nearly 10 months, as investors worried about falling oil prices and political turmoil in Greece.

The benchmark Nikkei 225 closed down 3% at 16,883.19 points – its worst day since March.

The US oil price fell below the symbolic threshold of $50 a barrel for the first time since April 2009.

Meanwhile in London, Brent crude fell as low as $53 a barrel.

That prompted energy shares to fall.

Concerns over Greece’s future also weighed on the euro, which slid to a nine-year low against the dollar.

Elsewhere in Asia

A private survey released late Monday morning showing China’s services sector grew at its fastest pace in three months in December, saw some shares in China recover earlier losses.

The Shanghai Composite had recovered ground by Monday afternoon, up 0.13% to 3,354.94 points, after being down as much as 1.27% earlier in the day.

While in Hong Kong, the benchmark Hang Seng remained in negative territory, down 1.3% in afternoon trade at 23412.98 points.

In Australia, investors also reacted to falling oil prices and eurozone worries, with the benchmark SP/ASX 200 closing down 1.57% at 5,364.80 points. Earlier in the day the index was down as much as 1.9% – one of its biggest falls in more than a month.

One company’s shares saw a positive reaction to falling oil prices, however, with Qantas, Australia’s national carrier, seeing its share price at a four-year high during the Tuesday session.

Australia’s latest trade numbers showed the country’s deficit widening in November from October to about A$950m Australian dollars ($770m). It is the eighth trade deficit in a row.

Analysts said investors largely ignored the numbers, though, which were smaller than expected, and due in part to falling prices for resources like iron ore.

Tristan K’Nell, head of trading at Quay Equities, said there were a number of issues worldwide causing uncertainty in equity markets.

“Investors (are) watching closely … US interest rates, growth slowdowns in Europe and the Asia Pacific, political uncertainty in Greece, geopolitical issues between Russia and Ukraine and also the Middle East, and the volatility and crashing prices in crude oil and iron ore,” he said.

In South Korea, the benchmark Kospi closed down 1.74% to 1,882.45 points, with shares in energy firms leading the declines on oil price worries.

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