asia stocks fall
Sunday 5 January 2025
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

As rally fizzles out

Asia stocks fall

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today Asia stocks fall

While turbulence in Asian markets has abated this week with losses earlier
Hong Kong - Arab Today

The rally in Asia stocks fizzled out Friday, as a renewed weakening in the price of oil dampened sentiment and safe haven assets such as the yen received a boost.

US crude fell below $31 a barrel as traders digested news that American stockpiles rose to their highest in more than eight decades, reigniting concerns about demand and broader worries about the global economy.

While turbulence in Asian markets has abated this week with losses earlier in the year being partially won back, investors remain on alert over the global glut in crude and China's economic outlook.

Since the start of the year, tumbling oil prices, concern about the slowdown in Asia's largest economy and a sell-off in bank stocks sent some global stocks into a bear market.

Markets had received welcome support earlier in the week when oil prices jumped Wednesday following a pact between top two producers Russia and Saudi Arabia to pursue a coordinated strategy to limit output.

"Sentiment on the oil market has been a key macro driver for stock-market sentiment recently," Ric Spooner, Sydney-based chief market analyst at CMC Markets, told Bloomberg News.

"Concerns about the potential for credit-market problems in the event of a lower-for-longer oil scenario are near the top of a fairly long list of macro factors worrying investors at the moment."
West Texas Intermediate slipped 0.8 percent Friday after rising in the past two days. Brent also fell 0.8 percent.

"Inventories continue to build," Michael McCarthy, a chief strategist at CMC Markets in Sydney, said by phone, according to Bloomberg. "Not only is there downside risks to prices but there is also obvious limits to any upside potential."

Asia markets were also depressed Friday by a fall on Wall Street Thursday, with Tokyo ending the day down 1.42 percent as a stronger yen dented exporters and the fresh fall in oil hammered commodity and energy shares.

Japanese energy explorer Inpex tumbled 9.40 percent to close at 866.6 yen, while JX Holdings was off more than three percent to end at 447 yen.

- 'Unpredictability about China' -

Analysts noted the strengthening yen -- up slightly to 113.02 yen to the dollar from 113.24 yen Thursday in New York -- could weigh on the profitability of Japanese exporters.

"The stronger yen will be a burden on Japanese markets," Hideyuki Ishiguro, a senior strategist at Okasan Securities, told Bloomberg News.

"Investors are concerned at the downside of earnings, especially for exporters, which may weigh down the markets.
We're not in a place where we can buy. The yen may strengthen further versus the dollar."

The currency has climbed almost five percent since the Bank of Japan surprised traders by imposing negative interest rates last month.

Elsewhere in Asia-Pacific, Hong Kong eased 0.54 percent in late trade while Sydney dropped 0.79 percent, but Seoul rose 0.39 percent.

Energy firms suffered, with Sydney-listed Woodside Petroleum down 2.26 and BHP Billiton dropping 2.01 percent. In Hong Kong, CNOOC was 1.46 percent lower while PetroChina lost 1.36 percent.

In Shanghai stocks were broadly flat, slipping 0.10 percent amid persistent worries over the flagging economy, dealers said.

Despite the slight fall Friday, China’s stocks enjoyed one of their best weeks for months after the government signalled increased support for the economy through higher spending and new measures to boost bank lending.

Uncertainty about China's slowdown has added to bearish sentiment in financial markets this year as Beijing has sent mixed signals about managing the currency and stock markets.

"Since last summer's stock market debacle, the market's confidence in Chinese leaders' ability to govern their economy has been badly shaken and it has yet to be repaired," said Scott Kennedy, director of the Project on Chinese Business and Political Economy at the Center for Strategic and International Studies in Washington, according to Bloomberg.

"The longer this situation lasts, the greater potential damage the unpredictability about China´s economic situation could have on global markets."

- Key figures around 0730 GMT -

Tokyo - Nikkei 225: DOWN 1.42 percent at 15,967.17 (close)

Shanghai - composite: DOWN 0.10percent at 2,860.02 (close)

Hong Kong - Hang Seng: DOWN 0.54 percent at 19,257.94

Euro/dollar: UP at $1.1120 from $1.1105 on Thursday

Dollar/yen: DOWN at 113.02 from 113.24 yen on Thursday

New York - Dow: DOWN 0.3 percent at 16,413.43 (close)

London - FTSE 100: DOWN 1.0 percent at 5,971.95 points (close)
Source :AFP

almaghribtoday
almaghribtoday

GMT 12:55 2018 Sunday ,21 January

Duterte bans Philippine nationals

GMT 13:13 2018 Saturday ,20 January

UK retail sales slide in December

GMT 10:06 2018 Friday ,19 January

To develop oil fields retaken from Kurds

GMT 13:33 2018 Thursday ,18 January

Sudan holds communist leader

GMT 12:51 2018 Wednesday ,17 January

Sudan police beat protesters at demo

GMT 09:24 2018 Tuesday ,16 January

UK construction firm Carillion collapses

GMT 12:06 2018 Monday ,15 January

EU more dependent on Russian gas

GMT 11:31 2018 Sunday ,14 January

Glimmers of hope in Iran economy
Almaghrib Today, almaghrib today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asia stocks fall asia stocks fall

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asia stocks fall asia stocks fall

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more

GMT 11:23 2018 Friday ,19 January

Struggling Wawrinka dumped out of Australian Open

GMT 19:34 2014 Thursday ,20 November

Truck makers probed by EU for pricing cartel

GMT 13:36 2017 Friday ,04 August

Egyptian, Algerian foreign ministers hold talks

GMT 21:44 2016 Friday ,08 January

Warm winter in India due to el-Nino

GMT 03:35 2017 Friday ,07 April

Israeli killed in car ramming in West Bank

GMT 03:09 2014 Monday ,05 May

\'The Rise Of Peace\' by Dr Hafiz Shahid Amin

GMT 07:02 2017 Monday ,27 February

ZTE launches world’s first 5G-ready smartphone

GMT 20:43 2014 Monday ,26 May

What is the importance of educational tour?

GMT 16:29 2011 Wednesday ,21 September

Felder Felder: London Fashion Week S/S 2012

GMT 17:47 2017 Tuesday ,18 April

Saudi Shoura member in favor of women driving
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday