Asian indices turn sluggish tracking rates-driven tumble on Wall Street
image for illustrative purpose
Bangkok: Markets in Europe and Asia were mostly lower Wednesday after Wall Street tumbled as investors focused on the downside of a surprisingly strong job market: the likelihood that interest rates will stay high.
US futures and oil prices edged lower. The US markets ended with over 1 per cent fall on Tuesday. European markets fell far less than those in Asia. Germany’s DAX lost 0.1 per cent to 15,071.35. In Paris, the CAC 40 edged 0.1 per cent higher, to 7,005.23. Britain’s FTSE 100 was down less than 0.1 per cent, at 7,466.94.
On Wall Street, the future for the S&P 500 was down 0.1 per cent and that for the Dow was unchanged. In Asian trading, Tokyo’s Nikkei 225 index sank 2.3 per cent to 30,526.88 and the Kospi in South Korea dropped 2.4 per cent to 2,405.69.
Hong Kong’s Hang Seng skidded 0.8 per cent to 17,195.84. Troubled property developer China Evergrande was down 12.2 per cent after plunging 28 per cent on Tuesday. Australia’s S&P/ASX 200 shed 0.8 per cent to 6,890.20. In Bangkok, the SET recovered from early losses, gaining 0.3 per cent. On Tuesday, the S&P 500 lost 1.4 per cent.
