Asian Market Fell Due To Loss In The US Market

BP fuel station US

BP fuel station US

In a sign that the markets are calming, the Nikkei Stock Average Volatility Index, or Nikkei 225 VI, returned to earth, dropping 21.2% to 24.45 during the Wednesday morning session. It also managed to trim its losses and was trading 2.1% lower after about an hour of trade.

MSCI's broadest index of Asia-Pacific shares outside Japan was a tad softer, having risen as much as 2 per cent in early trade.

South Korea's Kospi, which saw smaller losses on Tuesday, opened 1.2% higher on Wednesday but subsequently slipped back around the level of the previous close.

The Nikkei lost 1,589.17 points by Tuesday afternoon, before recovering slightly.

Global markets also fell.

"However once this kind of stampede starts it's hard to stop".

The benchmark had tumbled as much as 7.1 percent on Tuesday before regaining some lost ground to close 4.7 percent lower.

ASX 200 Index tumbled 3.2 percent to close at 5,833.30 in Sydney, its lowest level since October 13, as Asian equity markets continued a sell-off.

The selling has persisted into European trading hours, though at a more moderate pace.

The S&P 500 recorded its biggest one day gain since November 7, 2016 to finish at 2,695, with technology the top-performing sector, while the Dow closed up 2.3% at 24,912 and the Nasdaq rose 2.13%.

Sony Corp. rallied 1.51 percent to ¥5,417 with Panasonic Corp. up 2.10 percent at ¥1,599.5.

"The favourable conditions that have underpinned the stock market rally over the a year ago remain largely intact at this time - the global expansion continues and corporate earnings remain in acceleration mode".

Credit Suisse (Vincent Chan): "The US market correction is changing from a risk to a genuine threat to the HK market, in our view".

A 10 percent drop from a peak is referred to on Wall Street as a "correction".

After regular cash trading on Wednesday, S&P e-mini futures EScv1 fell 1 percent, suggesting the negative tone would continue on Thursday.

"Seemingly the only hope for the markets at the moment is that investors suddenly decide that the sell-off has been a bit overdone", said Connor Campbell, a financial analyst at Spreadex.

"Economic news from the U.S. has been stronger than anticipated", said David Kuo, chief executive of financial services advisory Motley Fool. "South Korean markets started higher in the morning but investors are more anxious that US markets will see further sell-offs tonight".

This is due to inflation fears after strong U.S. jobs data at the end of last week that triggered a surge in bond yields and led to sell-off across United States stock markets.

The S&P 500 is down 80.47 points, or 2.9 percent.

Banks are taking some of the biggest losses. Amid the sea of red, some safe-haven assets, including European bonds, traded higher.

The euro posted fresh gains against the greenback, rising 0.3% to 1.2405 dollars.

Recommended News

  • Here's How Much Nick Foles Will Make for Winning the Super Bowl

    Here's How Much Nick Foles Will Make for Winning the Super Bowl

    I think we practice harder than probably any National Football League team. "Eagles fans still love those guys", McCann said. The team's vaunted ground attack rushed for 164 yards, while quarterback Nick Foles passed for 374 yards.
    The Cavs And Hornets Have Reportedly 'Vaguely' Discussed A Kemba Walker Deal

    The Cavs And Hornets Have Reportedly 'Vaguely' Discussed A Kemba Walker Deal

    Appearing in all 51 of his team's games this season, James has averaged 26.3 points, 8.7 assists and eight rebounds per contest. When he re-entered the game with 10:10 remaining in the fourth quarter, the Magic ran off 14 straight points to lead 108-92.
    Liverpool boss Klopp hails Lovren fight back after Spurs horror show

    Liverpool boss Klopp hails Lovren fight back after Spurs horror show

    It is the salaries you need to see! "I try to find something to do like watch a film or read a book but you can not stop". If not, and Eriksen creates himself a foothold from which to dictate the game, Spurs may well leapfrog them into third.
  • Virat Kohli smashes 160 no, India post 303

    Virat Kohli smashes 160 no, India post 303

    The India skipper came to the crease at the end of the first over after Kagiso Rabada had found the edge of Rohit Sharma's bat. The slide began with the fall of Markram, who was stumped by MS Dhoni after getting beaten by a flighted delivery from Yadav.
    US Senate rushes to clinch budget deal to avert govt shutdown

    US Senate rushes to clinch budget deal to avert govt shutdown

    McConnell has said he will allow the Senate to debate an immigration bill on its own after Friday if the government remains open. The House is scheduled to vote on the measure on Tuesday evening, according to House majority leader Kevin McCarthy's schedule.
    Apple says it sees 'strong demand' for replacement iPhone batteries

    Apple says it sees 'strong demand' for replacement iPhone batteries

    That being said , Apple has stated the direct opposite of this in the past, so we really don't know what their next move will be. Once you tap Disable, the iPhone throttling will be turned off and will not give you the option to turn it back on.
  • Lloyds Banking Group bans customers from buying virtual currencies on credit cards

    Lloyds Banking Group bans customers from buying virtual currencies on credit cards

    Cutting off card purchases could exacerbate those pressures by making it more hard for enthusiasts to buy into the market. Despite being tempted to dip their toes into the cryptocurrency market past year , many seem to be back on the defensive.
    English Premier League: Sterling blunders as Burnley hold Manchester City 1-1

    English Premier League: Sterling blunders as Burnley hold Manchester City 1-1

    Quick to the cut passes out and win the ball back and did well to recycle possession, keeping City on top for most of the game. The Citizens were then brought back down to earth with their first defeat of the season, losing 4-3 to Liverpool at Anfield.
    India crush South Africa in 2nd ODI; lead Series 2-0

    India crush South Africa in 2nd ODI; lead Series 2-0

    South Africa barely crossed 100 in that over, and then Chahal came with another breakthrough, trapping Duminy plumb LBW. India had brought on spin from the 11 over itself as Chahal exerted control over proceedings.
  • Plummeting US markets put traders on watch

    Plummeting US markets put traders on watch

    The economic data released yesterday also showed that average hourly wages rose, pushing the yearly wage increase to 2.9 percent. The good news was that the economy added 200,000 jobs and continued a almost unprecedented run of job growth.
    Manchester United boss Jose Mourinho criticises

    Manchester United boss Jose Mourinho criticises "ridiculous" start in Spurs defeat

    Tottenham took the lead after just 11 seconds through Christian Eriksen , which set The Lilywhites off to a rampant performance. Despite a positive opening 10 minute spell after the goal, United became progressively worse.
    BLACK PANTHER Almost Included a YOUNG AVENGER

    BLACK PANTHER Almost Included a YOUNG AVENGER

    Marvel's Black Panther is definitely the superhero of the moment, with the new film expected to top $100M opening weekend. Last year's drop in domestic box-office sales raised questions about the durability of comic characters and sequels.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.