Friday, July 25, 2014   

Asian markets track Wall Street losses
(02-04 16:36)

Asian markets slumped Tuesday -- led by a four percent fall in Tokyo -- following a huge sell-off on Wall Street as disappointing US manufacturing data compounded already deep fears about emerging markets.
Traders were also spooked by a warning from Treasury Secretary Jacob Lew, who warned that the US borrowing limit will be reached on Friday, renewing fears of a Washington stand-off and possible default.
Tokyo dived 4.18 percent, or 610.66 points, to 14,008.47. The losses leave the Nikkei 14 percent down since the start of the year, having surged 57 percent in 2013 to mark its best year in four decades.
Seoul fell 1.73 percent, or 33.11 points at 1,886.85 and Sydney lost 1.75 percent, or 90.8 points, to 5,097.1.
Hong Kong plunged 2.89 percent, or 637.65 points, to 21,397.77. Chinese tech giant Lenovo dived 16.40 percent on fears it may have bitten off more than it can chew with the purchase last week of struggling Motorola from Google for US$2.91 billion.
The firm slumped more than eight percent on Thursday in response to the news, before the stock market closed for the Lunar new Year holiday.
Shanghai and Taipei were closed for the Lunar New Year holiday. --AFP   
Other Business breaking news:
BSkyB to take over Italian, German pay TV networks (07-25 18:02)
Russia raises interest rate on geopolitical tensions (07-25 17:51)
China adds 7.4m jobs in first half (07-25 17:21)
German business confidence down in July (07-25 16:43)
Hang Seng finishes on positive column (07-25 16:09)
RBS reports sharp recovery (07-25 16:07)
European markets open lower (07-25 16:06)
German consumer confidence improves (07-25 14:41)
Nikkei ends at six-month high (07-25 14:27)
Resale home price down in second quarter (07-25 12:42)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.