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
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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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Hang Seng soars, Nikkei closes up after dreadful Monday
Wall Street Journal Oct 28, 08 5:54 AM CDT
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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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US, EU, UK, others offer 50-point reduction to reverse diving markets
Bloomberg Oct 8, 08 7:04 AM CDT
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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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UPDATED
'This is just about fear right now'
Wall Street Journal Oct 6, 08 1:58 PM CDT
(Newser)
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Stocks continued downward today, with the Dow falling a record 782 points, the Wall Street Journal reports, and settling mid-afternoon around 9,571, below 10,000 for the first time since October 2004. “This is just about fear right now, and whether stocks are going to close down 200 or 900 points,” said one trader. All 30 of the index's stocks were in the red.
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EU leaders' disagreements sow fear
Financial Times (UK) Oct 6, 08 4:36 AM CDT
(Newser)
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Financial stocks led sharp declines across European markets this morning after the continent's finance ministers failed to agree on a joint effort to stem the crisis. By 10 a.m. in London the FTSE was down 5.2%, with troubled banking giant HBOS plummeting 15%. In Frankfurt the Dax was down 4.5%, while in Paris the CAC 40 fell 4.7%.
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Monetary fund chief pressures Congress to pass bailout, Europe to make plans
Guardian (UK) Oct 1, 08 7:30 AM CDT
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The US must act swiftly to avoid economic meltdown and Europe's banks need to be ready with emergency plans of their own, IMF's managing director warns. European and Asian markets have bounced back on the prospects of a revived US bailout deal, but JP Morgan analysts warned yesterday that Europe's banks face another $45 billion in losses before the end of the year, the Guardian reports.
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Bloomberg Sep 23, 08 4:44 AM CDT
(Newser)
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Stocks were down in Europe and Asia today amid fears of a global recession despite the massive government bailout being arranged in the US. Europe's Dow Jones Stoxx 600 Index dipped for a second day, falling 1.8% in early trading, Bloomberg reports. Barclays fell 3.6% and Australia's Macquarie Group Ltd.dipped 4.5%. The MSCI Asia Pacific Index dropped .6%, ending a two-day rally. "The problems aren't resolved," warned one analyst.
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US turmoil continues to roil world's market; central banks act to insure liquidity
New York Times Sep 18, 08 5:34 AM CDT
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A huge cash injection into global money markets by central banks and the buyout of British lender HBOS by Lloyds-TSB eased some investor worries and pushed European stocks slightly higher today, reports the New York Times . But concerns about the ongoing crisis in the US continued to batter Asian stocks and prompted Russian exchanges to suspend trading until tomorrow.
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Central banks pump cash, but bourses tumble
Financial Times (UK) Sep 16, 08 7:15 AM CDT
(Newser)
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Europe's central banks pumped huge amounts of cash into markets today as stock exchanges dove and interbank lending slowed to a trickle. Just after midday in London, the FTSE 100 was down by nearly 2%, with investment banks and insurers leading declines. The Bank of England injected $35.8 billion into the markets, while the European Central Bank released nearly $100 billion in emergency funds.
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US futures and dollar sink: 'It's mayhem'
Bloomberg Sep 15, 08 3:40 AM CDT
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Lehman Brothers’ bankruptcy, along with news that mammoth insurer AIG is seeking a $40 billion Federal Reserve loan, has sent European and Asian markets, US futures and the dollar sharply downward, Bloomberg reports. Swiss-based UBS AG, Europe’s bank most hurt by the subprime crisis, plunged 7.2%. Australia’s biggest investment bank, Macquarie, fell 10%, and S&P futures expiring in December fell 2.9%.
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Euro hits $1.60 as banks lead declines
Bloomberg Jul 15, 08 7:32 AM CDT
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World stocks hit their lowest level since 2006 today as credit-market losses and weakening consumer confidence sent shares falling, reports Bloomberg. The big banks, from UBS in Europe to Cathay in Asia, led declines. The MSCI World Index, Morgan Stanley's indicator of global finance, has now slid into bear market territory, having lost 21% of its value since October.
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