Nikkei and Hang Seng plunge on grim economic figures
Financial Times (UK) Nov 20, 08 5:12 AM CST
(Newser)
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Stocks in Asia plummeted again today as further economic data from Japan and the US spooked investors. In Tokyo the Nikkei dove nearly 7%, while in Hong Kong the Hang Seng slipped 6.6% in a massive sell-off of financial and real estate stocks. This morning in London the FTSE opened down 1.7%, as markets in Frankfurt and Paris were also in the red.
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MARKETS
Tokyo, London advance after Wall Street's crazy day
Financial Times (UK) Nov 14, 08 5:14 AM CST
(Newser)
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Asian and European markets rose today, reacting to the sharp swing from negative to positive in New York yesterday. In Tokyo the Nikkei gained 2.7%, while the FTSE in London was up 3.3% in mid-morning trading. Bargain-hunting investors pounced on undervalued financial stocks: Anglo American jumped nearly 10% in early trading while Man Group advanced 6.5%.
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Gains of recent days wiped out as investors switch focus back to slumping economy
Bloomberg Nov 6, 08 3:56 AM CST
(Newser)
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Dismal earnings predictions from major companies snapped a three-day gain in Asian markets, Bloomberg reports. Japan's Nikkei index skidded 6.5% after Hyundai, Panasonic, and Isuzu warned that the US slowdown would hit earnings. Hong Kong's Hang Seng dropped 6.4%, while News Corp's Australian shares took a 21% hit—its biggest since 1987—after it announced net profit will fall.
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Investors pour back into markets looking for bargains with cheap money
Guardian (UK) Oct 30, 08 6:42 AM CDT
(Newser)
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World markets rode the back of yesterday’s Fed rate cut to huge gains as investors began looking for bargains and flooded the exchanges with cash, reports the Guardian . Hong Kong was up 12.8%, Seoul rose 11.95%, and Tokyo saw a jump of 9.6%, its fourth largest one-day gain ever. European markets opened higher as well.
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Indexes rise after Wall St. rally and rate cut hopes, but fall on weak earnings reports
MarketWatch Oct 29, 08 1:44 AM CDT
(Newser)
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Markets across Asia rebounded today following a huge Wall Street rally and hopes of a drop in interest rates, but failed to hold on to some of their biggest gains as investors hedged against weak earnings reports from heavy hitters such as Panasonic and Sony, MarketWatch reports. Meanwhile, the Japanese yen retreated against global currencies on news of the potential rate cut.
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Hang Seng soars, Nikkei closes up after dreadful Monday
Wall Street Journal Oct 28, 08 5:54 AM CDT
(Newser)
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Asian markets posted dramatic gains after a punishing Monday, as investors reacted to favorable moves in the currency markets. In Hong Kong the Hang Seng surged in afternoon trading to close up 14.4%—its biggest one-day gain in 11 years—while in Tokyo the Nikkei ended up 6.5% despite early falls. This morning in London the FTSE opened up as oil giant BP announced impressive third-quarter profits.
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Nikkei dives to 1982 levels, Hang Seng plummets 12%
Guardian (UK) Oct 27, 08 5:26 AM CDT
(Newser)
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Japanese stocks hit a 26-year low as markets in Asia and Europe plunged again amid tenacious fears of a prolonged global recession. The Nikkei fell 6.4% and Hong Kong's Hang Seng index dropped a staggering 12%—its biggest single-day tumble since 1997. In London the FTSE opened down more than 5% this morning, and the pound dropped another 6 cents against the dollar.
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UPDATED
Markets across Asia plummet to multi-year lows amid intractable recession fears
MarketWatch Oct 24, 08 2:11 AM CDT
(Newser)
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Asian markets took a hammering today for the third day in a row as investors looked ahead and saw nothing but gloom, Marketwatch reports. The Nikkei index nosedived 9.6% to a five-year low. Indexes in Hong Kong, South Korea, China, Taiwan, and Australia all sank to multi-year lows. Analysts fear the basement still isn't in sight.
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Associated Press Oct 22, 08 10:46 PM CDT
(AP)
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Asian stocks tumbled for a second day Thursday as a barrage of downbeat company forecasts deepened fears of a global recession. Every major regional benchmark was in the red. Japan's Nikkei lost 5.5% to 8,195.74, on top of a 6.8% drop yesterday. Hong Kong's Hang Seng Index was down 662.89, or 4.65 percent, at 13,603.71. The Hang Seng hadn't closed under 14,000 since 2005.
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Key indexes down across board amid continuing recession fears
MarketWatch Oct 16, 08 1:52 AM CDT
(Newser)
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Share prices tumbled in Asia again today amid fears of a US recession and a braking global economy, reports MarketWatch. The key Nikkei 225 Stock Average plummeted 10%, the Hang Seng Index dropped 7.6%, and the China Enterprises Index lost 9.9%. The MSCI Asian Pacific Index—set for its biggest drop in history—plunged 7.8%, and Australia's S&P/ASX 200 index slid 6.9%.
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Bank support plans boost Japan's index to biggest gain in its history
Bloomberg Oct 14, 08 1:59 AM CDT
(Newser)
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The Nikkei surged over 14% on the news that the US and Europe will buy up stakes in troubled banks, Bloomberg reports. The index's biggest gain in history follows its biggest loss in its history last week. Japan's markets were closed for a holiday yesterday when global indexes soared. Hong Kong's Hang Seng index rose 4.2% for a two-day gain of 15%.
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US, EU, UK, others offer 50-point reduction to reverse diving markets
Bloomberg Oct 8, 08 7:04 AM CDT
(Newser)
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The Federal Reserve and five other central banks cut interest rates by 50 basis points in an emergency attempt to stem the economic effects of the credit crisis, reports Bloomberg. The move brings the American benchmark rate to just 1.5%, while the European Central Bank and the monetary authorities of the UK, Canada, Switzerland, and Sweden all joined in the action. China also cut rates by more than a quarter-point.
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UPDATE
Biggest drop in over 20 years, Brit bailout fails to stop FTSE dive
Bloomberg Oct 8, 08 2:40 AM CDT
(Newser)
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Fears of a global recession sent markets plummeting around the world today, Bloomberg reports. Japan's Nikkei index nosedived 9.4%—its biggest fall since the stock market crash of 1987. Indonesia and Russia halted trading after their benchmark index dove 10%. Of 100 companies listed in Britain's FTSE 99 fell in early trading as news of a dramatic bank bailout failed to reassure investors.
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