Posts filed under 'Global Markets'
The US stock markets took a remarkable recovery course in the last two hours of trades only to close mixed. The Asian markets are continuing on the selling pressure on Friday morning trades.
Former Federal Reserve Chairman Alan Greenspan told Congress that he is shocked at the breakdown of the American credit system. Microsoft has announced a better than expected quarter. Energy, Utilities are the favorite stocks while Basic Materials, Conglomerates, Cons. Cyclical and Technology closed in the red.
Dow closed at 8,691.25 gaining 172.04 points or 2.02%. The Nasdaq closed at 1,603.91 down 11.84 points or 0.73%. The S&P 500 closed in the positive at 908.11 by 11.33 points or 1.26%.
The Asian markets are continuing their selling stand. Sony has put up a profit warning while the outlook of most Asian corporates is that a downward slide looks inevitable.
Nikkei 225 at one point is down over 5% but recovered a bit and is down at 4.89% at the moment. Seoul Composite is down over 5.4%. Hang Seng and Jakarta Composite markets are also down in the red.
1 U.S. Dollar = 49.4095 Indian Rupees
1 U.S. Dollar = 0.7738 Euros
1 U.S. Dollar = 0.7738 GBP
1 Ounce Gold = $713.10
1 Barrel Crude Oil = $68.50
Friday, October 24, 2008 8:22:22 AM IST
October 24th, 2008
Yet another day of heavy selling in the Asian and the European markets with almost all major stock indices closing in the red. The Seoul Composite fell 7.48%. FTSE is down little over 1.3%
Asian markets have experience selling spree giving a sense that the investors are going out of the markets for a while. The Asian stocks have reported a 4 year low today with central banks across the region promising to pump in more cash for liquidity.
The Seoul Composite closed down 7.48%. The All Ordinaries fell 180 odd points to close down 4.39%. The Straits Times fell 75.46 points and closed down 4.14%. Other leading losers in the Asian region include BSE 30, Jakarta Composite, NZSE 50 and Hang Seng, all of which are down over 3% each.
The Indian Finance Minister said that SEBI has told FIIs not to lend stocks abroad.
Meanwhile the European region too is witnessing the selling rally. The Madrid General is down 4.79% and DAX and OSE All Share are down over 3%. The markets are witness more down turn as trade volumes begin to increase.
Wolseley said it would be cutting 3000 jobs. Retail sails are reporting to have been hit. The Pound is near the 5 year low mark.
1 U.S. dollar = 0.614779294 British pounds
1 U.S. dollar = 0.77960552 Euros
1 U.S. dollar = 49.4804 Indian Rupees
1 Ounce Gold = $705.30
1 Barrel Crude Oil = $67.73
Thursday, October 23, 2008 4:26:55 PM IST
October 23rd, 2008
The US markets have been hit once again this time the Dow touching the 8510 points mark. Dollar weekened a bit while the Asian markets are taking a red Tuesday.
The Dow closed at 8,519.21 losing 514.45 points or -5.69%. The Nasdaq last traded at 1,615.75 points and is down 80.93 points or -4.77%. The S&P 500 last traded at 896.78 points down 58.27 losing 6.10% at closing bell.
US President Bush has called upon 20 Nations for a Summit on the markets. Job cuts and recession fears are much visible in the US markets as the indices are touching their 5 year lows.
Wachovia swings to $23.7 Billion losses on huge write downs. AIG has announced it will freeze executive payouts.
The Asian markets are taking a bad Tuesday reflecting the US-market mood. The Seoul Composite is down 8.32%. The Nikkei 225 is down over 5%. The All Ordinaries and Hang Seng are down over 4% each. Almost all major Asian indices that have opened are trading in the red.
1 U.S. dollar = 48.8997 Indian Rupees
1 U.S. dollar = 0.7810 Euros
1 Ounce Gold = $724.00
1 Barrel Crude Oil = $67.50
Thursday, October 23, 2008 8:59:44 AM IST
October 23rd, 2008
The stock markets are back into the red with the corporate earning numbers beginning to look bleak. The US markets closed in the red and the Asian markets are taking the hard hit on Wednesday morning.
The Dow lost 231.77 points or 2.50% and closed at 9,033.66. The Nasdaq closed at 1,696.68 losing 73.35 points or 4.14%. The S&P 500 ended at 955.05 losing 30.35 points or 3.08% by closing bell. All major sectoral indices on the US stock exchanges closed in the red.
Yahoo reported its profits are down ads that it will slash its workforce by 10%. Ad revenue weakened, the internet major reported yesterday. Oil prices have dropped by 1$ as demand worries begin to come up.
Meanwhile the Asian markets are taking a hard hit. The Nikkei 225 is down 3.96% with the Yen advancing over Euro. All Ordinaries, Hang Seng, Jakarta Composite and Seoul Composite are all down over 2%. The Straits Times is down 3.34%
1 U.S. dollar = 48.5790 Indian Rupees
1 U.S. dollar = 100.3109 Japanese Yens
1 U.S. dollar = 0.7654 Euros
1 Ounce Gold = $760.90
1 Barrel Crude Oil = $70.25
Wednesday, October 22, 2008 9:48:02 AM IST
October 22nd, 2008
Asian stock markets have taken a positive Tuesday with the BSE ticking up 4.5%. The European markets too have come up positive in the early trades of Tuesday.
The Bombay Stock Exchange that closed up 460.30 points or 4.50% is the stellar performer in the region. It is followed by the All Ordinaries and Nikkei 225, both of which are up over 3.4%. The Shanghai Composite, Hang Seng, Straits Times and Seoul Composite close marginally in the red.
South Korean Government continued its intervention to save its economy. The $4 billion package for the construction industry is the new announcement today. The Japanese Government too is doing its part with an announcement that the bank bailout scheme will also be including top Japanese banks.
The DAX and Madrid General are the two major indices in the European zone that are trading in the red at the moment. The ATX is up 2.88% followed by CAC 40, OSE All Share and the Stockholm General which are all up over 1% each.
The last three trading sessions have showed that the global stock markets have ended in the green, an indication that the time for cheer is around. The Japanese stock markets have contributed about 3.3% for the global stocks uprise. The Dollar has hit a 1 1/2 high and with this, most of the global currencies have been hit.
1 U.S. dollar = 48.7995 Indian Rupees
1 U.S. dollar = 101.2350 Japanese Yens
1 U.S. dollar = 0.7553 Euros
1 Ounce Gold = $776.40
1 Barrel Crude Oil = $72.80
Tuesday, October 21, 2008 5:26:04 PM IST
October 21st, 2008
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