Posts Tagged ‘Stock Markets’
Japan’s Nikkei stock lost almost 7% of its value, as the sufferings continued. After the news that Sony had halved its full-year profit forecast, a gloom spread over the market.
On the other hand, South Korea announced that growth in its economy was at s four-year low because of the current financial crisis.
South Korea’s benchmark stock index fell below 1,000 points for the first time since in more than three years.
South Korean electronic firm Samsung announced that it third-quarter profits were 44% down though there was a rise in sales.
The Nikkei fell below the 8,000 mark in afternoon trading in Tokyo and it happened first time in more than five years. A strong yen is a cause of concern about Japan’s export earnings.
The US officials say that a ‘comprehensive’ plan to ease global financial crisis will be soon hammered out.
After meeting members of Congress, US Treasury Secretary Henry Paulson said that legislation was required to rid US banks from their bad assets.
The announcement splashed a new wave of life in many stock markets all around the world particularly Asian stock markets.
In early trading, Japan’s Nikkei climbed to 2.8%. Similarly, the Shanghai Composite was 9.3% up by mid-morning and Hang Seng in Hong Kong climbed 7% at early hours. Read the rest of this entry
