Jump to content

Register now to gain access to all of our features. Once registered and logged in, you will be able to create topics, post replies to existing threads, give reputation to your fellow members, get your own private messenger, post status updates, manage your profile and so much more. If you already have an account, login here - otherwise create an account for free today!

Welcome to our forums
Welcome to our forums, full of great ideas.
Please register if you'd like to take part of our project.
Urdu Poetry & History
Here you will get lot of urdu poetry and history sections and topics. Like/Comments and share with others.
We have random Poetry and specific Poet Poetry. Simply click at your favorite poet and get all his/her poetry.
Thank you buddy
Thank you for visiting our community.
If you need support you can post a private message to me or click below to create a topic so other people can also help you out.

Geo News Blog

  • entries
    28,090
  • comments
    28
  • views
    121,435

What are the 'North Korea fears' doing to financial markets?

l_153357_085805_updates.jpg
153357_6461066_updates.jpgA businessman shelters from the rain beneath an umbrella as he walks in near the Bank of Central London, August 9, 2017. AFP/Tolga Akmen
 

NEW YORK: European and Asian equity markets were mostly lower Friday on the back of simmering tensions between the United States and North Korea, but firmer prices on Wall Street helped put a floor under the losses in Europe, dealers said.

Traders' screens were in the red in Asia and much of Europe as investors fled to safe haven assets after US President Donald Trump doubled down on his North Korea rhetoric.

But in the US, Wall Street stocks rose as investors waded back into the market following a three-day sell-off, with high-flying technology companies like Apple and Microsoft doing especially well.

The US gains helped limit the losses in Europe.

The tentative gains "suggest that the headline shock value pertaining to the US-North Korea standoff is starting to dissipate, which is to say actual action will now speak much louder than words," said Briefing.com analyst Patrick O'Hare.

"Although there is all this rhetoric, there is a general feeling we are not going to come to war," said Karl Haeling of LBBW.

Nevertheless, the geopolitical uncertainty looks set to continue, dealers said, following Trump's fresh warning Friday that the US military is "locked and loaded" in the event of a misstep by the totalitarian state.

Paris and London both lost about one percent, while Frankfurt was flat.

With Japanese markets closed for a public holiday, Hong Kong led the downward charge in Asia-Pacific as the Hang Seng lost more than two percent.

The index was also dragged lower after Beijing ordered probes into three major Chinese social networking platforms over outlawed content.

Shanghai posted its biggest one-day drop since December while Seoul stocks again ended deep in negative territory.

Gold, a classic safe haven asset, was trading at around $1,292 per ounce, up more than two percent this week and near a nine-week high.

The dollar pulled back against the euro and other currencies after the Consumer Price Index rose a tame 0.1 percent in July.

"The cooler CPI figures this morning follow similarly lower than expected wholesale price data yesterday and together, have highlighted the extremely benign inflation backdrop that has reduced expectations for Fed lending rate hikes in the months ahead," said Omer Esiner, an analyst at Commonwealth Foreign Exchange.

"The market reaction was swift and decisive with the dollar and yields falling to lows across the board."

Key figures, as of 1:45 AM PST

New York

Dow: UP 0.1 percent at 21,858.32 (close)

S&P 500: UP 0.1 percent at 2,441.32 (close)

Nasdaq: UP 0.6 percent at 6,256.56 (close)

London

FTSE 100: DOWN 1.1 percent at 7,309.96 (close)

Frankfurt

DAX 30: FLAT at 12,014.06 (close)

Paris

CAC 40: DOWN 1.1 percent at 5,060.92 (close)

EURO STOXX 50: DOWN 0.8 percent at 3,406.34 (close)

Tokyo

Nikkei 225: Closed for holiday

Hong Kong

Hang Seng: DOWN 2.0 percent at 26,883.51 (close)

Shanghai

Composite: DOWN 1.6 percent at 3,208.54 (close)

Currencies

Euro/dollar: UP at $1.1824 from $1.7777

Pound/dollar: UP at $1.3015 from $1.2979

Dollar/yen: DOWN at 109.11 yen from 109.21

Energy

Oil

West Texas Intermediate: UP 23 cents at $48.82 per barrel

Brent North Sea: UP 20 cents at $52.10 per barrel


Sign in to follow this  


0 Comments


Recommended Comments

There are no comments to display.

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Add a comment...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...