Web Design

product 1

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Quisque nec dictum tortor.

Multimedia

product 1

Proin eleifend quam eu purus aliquet scelerisque. Sed non nibh a urna tristique vestibulum.

Customizations

product 1

Morbi suscipit, nisl eget porttitor hendrerit, arcu sapien cursus enim, id luctus felis metus urna.

Australian Index in Weekly Loss of 5.7% - Gold Rise Tokyo Stock

Nikkei 225 | 11:14 | 0 comments


The Australian benchmark indexes extended losses for the second day in a row as world markets slide and fears of recession rise in the euro zone and in the U.S. Markets in Asia were on the defensive with the index in South Korea plunging nearly 6%.

On late Thursday evening Group of 20 nations issued a joint communiqué that reiterated their commitment to the stability of financial markets and world banking system. However, the statement lacked fire power to convince investors and offered no new initiatives or concrete actions.

The ASX 200 index dropped 61.70 or 1.6% to 3,903.2 and All Ordinaries index fell 66.2 or 1.64% to 3,978.5. The ASX index closed down 5.7% in the week and dropped 8% in the month so far.

The Australian dollar fell 0.5% to US$0.974 and the spot price of gold fell nearly 10% to US$1,770.60 per ounce.

In trading, stock turnover increased to 2.6 billion shares worth $7.08 billion. Of the stocks traded, 189 increased, 935 decreased and 323 were unchanged.

Market indexes in Hong Kong extended losses by 1.4% decline to 6.2% loss in two days and in India losses accumulated to 5.3% after 1.2% loss today.

Markets in Tokyo were closed today and the index in the export driven economies like South Korea plunged 5.7% and in Taiwan declined 3.6%. Philippines, New Zealand, Indonesia and Singapore declined smaller fractions. Read More

Category: , , ,

0 comments