stocks fall

 
 

US Treasuries signal trouble, stocks fall on global growth worries

NEW YORK, March 23 — Stocks around the world fell and US Treasuries yields sent warning signals for a possible recession today after weaker-than-expected US and European data intensified fears of a global economic slowdown. After weak US…


US stocks fall as ECB cuts growth outlook

NEW YORK, March 7 — Wall Street stocks fell in early trading today, extending a negative streak as the European Central Bank slashed its growth forecast. The Dow Jones Industrial Average, which has fallen the last three days, dropped 0.7 per cent…


Asian stocks fall as trade hopes wane, US-North Korea summit ends early

TOKYO, Feb 28 — Asian stocks fell today as investors dialled back some of their recent optimism about a Sino-China trade deal while news that the US-North Korean summit in Hanoi was ending early rattled confidence late in the trading day. The…


Hong Kong stocks fall as investors await trade talk outcome

HONG KONG, Feb 26 — Hong Kong stocks fell today, tracking a correction in Asian markets, as investors waited to see if Washington and Beijing can clinch a trade deal. The Hang Seng index fell 0.7 per cent to 28,772.06, while the China Enterprises…


Asia stocks fall on renewed anxiety over trade, growth risks

TOKYO: Asian stocks lost ground on Friday as investors worried about a broadening global economic slowdown, with sentiment not helped by the absence of any positive signs for a resolution in the US-China trade row.

Safe-haven government bonds benefited in the face of growing anxiety over the global outlook, with German long-term debt yields falling to their lowest in over two years.

MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.7%, easing back from a four-month peak touched the previous day. The index was down 0.3% on the week.

Hong Kong’s Hang Seng lost 0.8% and South Korea’s KOSPI retreated 1.2%. Japan’s Nikkei tumbled 1.6%.

The European Commission on Thursday sharply cut its forecasts for euro zone economic growth this year and next, stoking fears a global slowdown is spreading to Europe as businesses and investors grapple with trade frictions.

Adding to the gloomy mood, US President Donald Trump said he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline to achieve a trade deal.

“Investors are getting nervous as the market had been optimistic about a resolution of the trade dispute since the beginning of the year,” said Shusuke Yamada, chief Japan FX and equity strategist at Bank Of America Merrill Lynch.

Trump’s stance rattled investors hoping for a resolution to the months-long trade dispute between the world’s biggest economies. Wall Street shares slumped in response overnight, with the Dow falling 0.9% to pull back from a two-month peak scaled midweek on upbeat corporate results.

“With many of the corporate earnings out of the way, equities appeared ready for a correction after their recent highs,” said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management.

“Equities will face further hurdles next week, as (US Treasury Secretary Steven) Mnuchin and (Trade Representative Robert) Lighthizer will be visiting China. Brexit talks are also in focus.”

Mnuchin and Lighthizer are expected to kick off another round of trade talks in Beijing next week to push for a deal to protect American intellectual property and avert a March 2 increase in US tariffs on Chinese goods.

The 10-year US Treasury yield extended its overnight decline to a one-week low of 2.645%.

The 10-year German bund yield fell to 0.105% on Thursday, its lowest since November 2016 after the European Commission’s sharp cuts to growth and inflation forecasts.

The euro sagged under the weight of declining German bund yields. The single currency was down 0.2% at $1.1339 after dropping to a two-week low of $1.1325 the previous day. It was on track for a 1% weekly loss.

The dollar was little changed at 109.760 yen, nudged off a high of 110.09 reached the previous day. The yen tends to attract demand in times of political tensions and market volatility due to its perceived safe-haven status.

Yet, the US currency was still headed for a small weekly gain of 0.3% against the yen, supported by the earlier rise in Treasury yields.

The Australian dollar was on course to end a bearish week firmly on the back foot, last trading down 0.35% at $0.7078 after the Reserve Bank of Australia (RBA) cut its growth outlook.

The Aussie slid sharply on Wednesday after the RBA stepped back from its long-standing tightening bias, saying the next move in rates could just as well be down as up. The currency was headed for a weekly loss of 2.3%.

In commodities, US crude futures slipped 0.5% to $52.37 per barrel, extending losses after dropping 2.5% in the previous session. Brent crude was down 0.35% at $61.42 per barrel.

Oil fell on Thursday as the market was hurt by concerns that global demand growth would lag in the coming year. – REUTERS


China says it can achieve sustainable economic growth

DAVOS, Jan 24 — China’s economy can maintain sustainable rates of growth despite global uncertainties, Vice President Wang Qishan said yesterday, days after the world’s second-largest economy posted its weakest expansion in nearly three…


US stocks fall again as market digests Fed

NEW YORK, Dec 20 — Wall Street stocks fell again early today as investors digested a Federal Reserve message seen as more aggressive than expected for interest rate hikes in the coming year. About 10 minutes into trading, the Dow Jones Industrial…


Bursa shares continue downtrend to close lower

KUALA LUMPUR, Dec 6 — Share prices on Bursa Malaysia continued their downtrend to close lower, tracking Asian exchanges, a dealer said. He said among the reasons cited for the bearish sentiment was the arrest of the global chief financial officer…


Asian stocks fall as declining US yields, trade woes knock sentiment

TOKYO, Dec 5 — Asian stocks fell today, dragged by Wall Street's tumble as sharp declines in long-term US Treasury yields and resurgent trade concerns stoked investor worries about global economic growth. Global equities have been shaken as a…


US stocks fall as Trump speaks of more China tariffs

NEW YORK, Nov 27 — Wall Street stocks fell early today following hawkish comments from President Donald Trump on the ongoing trade dispute with China ahead of a key Group of 20 summit. About 10 minutes into trading, the Dow Jones Industrial…