Most Asian stocks slipped on Tuesday as worries about the outcome of a territorial conflict between China and Japan pulled further on investor sentiment. The Shanghai Composite Index fell 0.9%, while Nikkei Stock Average tumbled 0.4%. The Hang Seng Index dropped 0.3% and Australia's S&P declined 0.2%, while Kospi rose 0.1%.
India's CPI rose in August as the central bank held its policy rate unchanged noting inflation fears. CPI accelerated to 10.3% from 9.86% in July, Central Statistics Office posted preliminary data on Tuesday. Total inflation for rural regions surged to 9.9% in August, from 9.76% in previous month. The Reserve Bank of India retained its lending rate at 8% and
Australia's imports of widgets tumbled seasonally adjusted A$373 million to A$21.24 billion in August, Australian Bureau of Statistics said on Tuesday. Intermediate and other goods for sale slipped 4%, lead by the fuels and lubricants content. While, consumption goods advanced A$107 million and capital goods added A$10 million.
Oil extended its slid after a two-month biggest decline amid belief that a slowdown in U.S. economy may hold back demand for fuel. On Tuesday, futures slipped 0.7% in New York, adding to a 2.4% fall before. October-delivery oil tumbled 64 cents to $95.98 per barrel and traded at $96.05. November-settlement Brent oil slid 29 cents to $113.50 per barrel
The Eurozone's trade surplus expanded in July due to decreased imports, whereas wages rose in the Q2, adding to signs the Euro bloc's economy is unlikely to contract dramatically this quarter. According to Eurostat, exports exceeded imports by as much as EUR 15.6 billion, up from EUR 13.6 billion surplus in June.
Barclays revised its forecast for China's GDP growth downward from the original of 7.9% to 7.5% amid weak data in August, the bank reported on Monday. In addition, the bank cut GDP growth forecast for 2013 from 8.4% to 7.6%. Economists of Barclays stressed that current slowdown is a combination of cyclical and structural changes.
Asian stocks ex-Japan declined on concern the U.S. economy is weakening and the Eurozone's debt crisis remains unsolved. The MSCI Asia Pacific ex-Japan Index fell 0.3% to 440.46. Japanese markets reopened on Tuesday after a public holiday. The MSCI Asia Pacific Index increased more than 8% this year, while the S7P 500 rose 16% and Stoxx Europe 600 Index gained
The Euro lost against its major counterparts, while falling from a four-month high versus the Japanese Yen before German data, which might add to signs the Eurozone crisis weighs on growth. The 17-nation currency weakened 0.3% to 102.93 Yen. The Euro fell 0.1% to $1.3099. Germany's Zew Center for European Economic Research is expected to say the index of investor
Bank of America Merill Lynch reported France's 1.07 trillion Euro of debt due in one year or longer enlarged by 7.4% since S&P downgraded its rating from AAA to AA+, more than twice the gains of the other global government note market, outpacing AAA rated Germany, U.K. and Australia. IN the meantime, French 10-year yields slid faster than those of
UK equities retreated on Monday despite higher risk-appetite on the market after the Fed announced QE3. UK stocks came under heavy selling pressure after news that the national home prices posted a decline for the third consecutive month in September. Concerns about further China's economic slowdown also weighted down on the UK equities. The FTSE 100 Index lost 0.20% to
German shares moved lower on Monday on China's growth concerns and escalated worries over Eurozone's economic instability. In Spain, thousands of people protested against public spending reductions. At the same time, easing measures in the US continued to support German stocks. The German DAX Index inched down 0.18% to trade at 7,392.06. All but one business sectors included in the
Hong Kong shares eased up, losing momentum after Friday's rally. Easing measures in the US continued to lend support for China blue chips. However, fears that POBC will not loosen its monetary policy as quickly as expected created heavy pressure on the Chinese equities. Moreover, Citigroup Inc lowered its China's growth forecast for this year from 8.00% to 7.6%. The
Australian stocks started the week in a green territory, being boosted by easing measures in the US. Meanwhile, slightly weaker Australian Dollar eased pressure on the exporters. The S&P/ASX 200 Index advanced by 0.29% to close at 4402.50, the highest level since May. Only three business sectors included in the index climbed. Miners posted the strongest gains, with Aquarius Platinum,
The Dow Jones Industrial Average Index gained 0.40% to end the week at 13,593.37. The US blue chips remained well-supported by the launch of the QE3. However, US factory and industrial output slumped last month, thus pushing the US blue chips index lower. Six out of nine business sectors included in the index climbed. The top-performers were basic materials and
US stocks ended last week on the positive note, drawing strength from the long-awaited Fed stimulus measures. Meanwhile, larger-than-expected increase in the US retail sales last month created additional boost for the US equities. At the same time, the US industrial production dropped at the fastest pace in three years in August thus pressuring the US stock market. The S&P
Manufacturing activity in the State of New York fell more than expected in September, Federal Reserve Bank of New York announced on Monday. Region's general economic index fell to a seasonally adjusted -10.4, down from -5.8 in August. Analysts had predicted Empire State manufacturing activity to drop -2.0 last month.
Most Asian stocks apart from China and Japan advance on mining companies' gains amid belief U.S. stimulus will fuel global demand. Shanghai and Hong Kong shares depreciated on Monday. The MSCI Asia Pacific Excluding Japan Index surged 0.2% to 442.41, on the way for the strongest closing since May 2.
Home sellers in the U.K. cut asking prices for a third consecutive month in September, as prices in eight regions out of the 10 reported a decline in prices. Average asking prices in England and Wales fell 0.6% to £234,858, after erasing 2.4% in the prior month. Despite an overall fall in prices, house prices in London grew 0.3% in September and were up 6.6%
The Pound prolonged last week's risk-rally versus U.S. and Japan counterparts on Monday. U.K. currency reached 127.36 versus the Yen, the highest since May 17, posting a brake of ascending triangle levels of resistance of GBP/JPY pair. GBP/USD traded at 1.6246, with an expectation of next resistance level around 1.6258/1.63 range.
European stocks fell from a 15-month strongest level, lead by losses in banking and energy sectors. On Monday, the Stoxx Europe 600 Index retreated 0.2% to 275.31, after the highest close since June 2011 on Friday. The CAC 40 Index declined 0.6% to 3,561.67. Spain's IBEX 35 fell 0.8% to 8,091.40. The FTSE 100 Index slid 0.3% to 5,898.52. The
U.S. stock futures tumbled on Monday, cutting a part of last week's advance, as traders turned their interest towards Asia. Dow Jones futures dropped 23 points to 13,495. Futures on S&P 500 deteriorated 3.5 points to 1,455.5, while those on Nasdaq 100 slipped 4.5 points to 2,845.75. The DXY Dollar index gained 0.1% to 78.935.
The Euro weakened on Monday on unrest in Spain as Mariano Rajoy thinks whether to request the economic help or not. The Euro depreciated against its major counterparts, easing 0.1% and reaching EUR102.81 versus the Yen; and sliding down versus the greenback to USD1.3102, which was a 0.2% decline. On September 14, the 17-nation currency hit a 4-month high against the U.S. Dollar and Yen.
On Monday, 30-year treasuries snapped a 4-day decrease as Fed's efforts to stimulate the economy will take some time to work. 30-year yields eased 1 basis point and were equal to 3.08% at 9:27 a.m. In London. Yields on benchmark 10-year notes were down 2 basis points and reached 1.87% on expectation of contraction of New York manufacturing.
On Monday, futures for crude oil trimmed the last week's gains during Asian trading hours, as traders were selling crude contracts for profits. On the NYMEX, November delivery futures for light sweet crude were traded at USD99.28 per barrel, which was a 0.06% for the trading session. Earlier, the contracts hit USD99.15 and, which was a session low, a session high of USD99.52 per barrel.