123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Business >> View Article

Asian Markets Overview –august 20th 2013 Markets Drop On Fear Of Fed Effect On Emerging Markets

By Author: Harver Group
Total Articles: 26

The Asian markets fell significantly on Tuesday led by a 3.2% fall in Indonesia after dropping 5.6% on Monday. Analysts at Harver Group believe that investors in the region worried that a reduction in the United States Federal Bank bond buying program will hurt emerging markets, which in turn drove equities down in both Asian developed and emerging markets. Several currencies were also down in the region as investors are concerned that foreign investors will withdraw money from the Region. The India Rupee hit all-time record low against the US dollar.

In Tokyo, the Nikkei Stock Average Index fell a significant 2.6%, the South Korean Kospi dipped 1.6% and the Australian S&P/ASX 200 Index lost 0.8%. In China the Shanghai Composite Index fell 0.6% and the Hang Seng in Hong Kong fell 2.2%. The SET declined 2% in Thailand. While the Indian S%P BSE Sense fell 0.3%.

Mining and resource producers fell as the US dollar rose against regional currencies. In Japan, Pacific Metals Co. dropped 3.8%, Korea Zinc Co. slid 4.9%. In Australia, Newcrest Mining Ltd declined 2.9% and BHP Billiton Ltd gave up 1.4%.

Energy Producers also fared poorly. Japanese Index Corp. lost 3.2% and Petro China Co. gave up 1.1% in Shanghai and 3.7% in Hong Kong.

Everbrite Securities Co. stock resumed trading after a technical glitch caused the broker to issue an enormous buy order that cause extreme volatility in the Chinese market. Everbrite has announced that it lost $31.7 million due to the glitch. The stock declined 10% reaching the limit in China.

Total Views: 78Word Count: 256See All articles From Author

Business Articles

1. Title Loan: Well Option To Get Cash ?
Author: josefmadsan3

2. New York Customs Importer Security Filing
Author: peggyoberland

3. Hydraulic Pipe Repairs Atlanta Carried Out By Experts In The Industry
Author: snvmedia

4. Hiring A Planner For Your Beach Wedding
Author: Steve Hardin

5. Stag Weekends In Riga
Author: travel2rigaseo

6. Real Time Forex Signals – 3 Ways To Benefit From Them
Author: Marianne Edward

7. Forex Signal Provider – How Do They Assist The Traders?
Author: Marianne Edward

8. Flight Ticket Booking
Author: directoflight

9. Politicians- Why They Are Being Trolled By Public?
Author: Voteo Polis

10. 7 Biggest Human Resource Mistakes Made By Businesses
Author: Sandra Lee

11. Mobile Beauty Team In Arlington
Author: salonexiaseo

12. Shop At A Great Knives Store
Author: smithtrading786

13. Construction Company In Uk
Author: ccsheffield2016

14. Cool Portable Mini Dvd Players
Author: Justin Kimbrough

15. Get The Complete Contact Details Of Trackvia Database Technology Users That Generates High-quality P
Author: Jordan Smith


Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: