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Monday, February 27, 2012

why stock market down february 27 2012

why stock market down february 27 2012 ; World stock markets fell Monday as high oil prices dampened enthusiasm for riskier assets like stocks ahead of the release of data likely to show that the U.S. economy is improving at a slow but steady clip. Benchmark oil remained near $109 per barrel while the dollar rose against the euro but fell against the yen.

European stock markets headed lower in early trading. Britain's FTSE 100 shed 0.6 per cent to 5,900.72. Germany's DAX lost 0.9 per cent to 6,799.99 and France's CAC-40 lost 1.1 per cent to 3,431.18. Wall Street was set to open lower, with Dow Jones industrial futures losing 0.4 per cent to 12,910 and S&P 500 futures down 0.5 per cent to 1,356.80.

In Asia, Japan's Nikkei 225 index ended down 0.1 per cent at 9,633.9, giving up gains posted earlier in the day. Hong Kong's Hang fell 0.8 per cent to 21,217.86. South Korea's Kospi lost 1.4 per cent to 1,991.16. Australia's S&P/ASX 200 dropped 0.9 per cent to 4,267.40.

But mainland Chinese shares advanced. The benchmark Shanghai Composite Index added 0.3 per cent to 2,447.06 and the Shenzhen Composite Index gained 0.3 per cent to 975.62.

U.S. Stock Futures Drop as G20 Snubs Euro-Area Call for IMF Help
U.S. stock-index futures fell, signaling the Standard & Poor’s 500 Index will snap a two-day rally after the Group of 20 snubbed calls to boost the International Monetary Fund’s resources to fight the euro-area debt crisis Read more..

Hong Kong shares fall 0.88%, China rises
Hong Kong stocks have fallen 0.88 per cent as nervous investors took profits ahead of the announcement of full-year results by banking giant HSBC, but Chinese shares rose 0.30 per cent. Hong Kong's benchmark Hang Seng Index closed 189 points down at 21,217.86 on turnover of $HK64.57 billion ($A7.81 billion) on Monday. Read more..

Asian shares mostly down as oil fears weigh
Japanese shares hit a near-seven-month high Monday spurred by a weakening yen, but later slipped in line with most Asian markets as high oil prices countered optimism over debt-hit Greece. Shortly after the opening, the benchmark Nikkei index hit an intraday high of 9,736.11 -- the highest point since August 4 -- but lost ground later as investors cashed in on recent gains, brokers said. Read more..

European Stocks Lower; Cautious Tone Noted
European stock markets traded lower Monday, as the Group of 20 nations expressed hesitancy toward further bailouts for European countries, while a reality check by Moody's on Greece's latest bailout package together with high global oil prices combined to hamper the markets' enthusiasm for gains. Read more..

South Korea Won Down Late On Rising Oil Price; Bonds Up
The South Korean won was lower against the U.S. dollar late Monday in Seoul as recent spikes in global oil prices spurred worries over the health of the global economy. Benchmark April Nymex crude oil futures fell slightly in Asian trade, but remained close to $110 per barrel, hurting sentiment toward South Korean shares and its currency because of the country's high dependency on crude imports. The local stock index ended 1.4% lower at 1991.16 Monday. Read more..

Sensex ends 478 pts down, its biggest 1-day fall since Sept
Indian equities underperformed global peers today. The Sensex fell 477.82 points or 2.67%, to close at 17,445.75 led by selling in 28 stocks. Meanwhile, the Nifty lost 148.10 points or 2.73% to 5,281.20, extending from previous week's 2% loss. European markets were down 0.7-1% while the Dow Jones futures dropped over 50 points. Read more..

Australian Stock Market Report - Midday 2/27/2012
After a flat start, the Australian share market is trading lower at lunchtime in the East, following a vote on the Australia Labor Party leadership. Julia Gillard remains Australia's Prime Minister, beating former Prime Minister Kevin Rudd 71 votes to 31 in a Caucus room vote this morning. The All Ordinaries Index (XAO) is down 24.5pts or 0.6pct to 4364.5. Read more..

Philippine stocks drop on lack of positive catalyst
‎Share prices on the Philippine Stock Exchange fell in active trading Monday, depressed by a lack of positive catalyst to buoy investor sentiment. “Earlier in the day, we said that people were on a wait-and-see mode looking for the next catalyst, which is a sequel of positive events,” said Grace Cerdeña, head of 2Trade Asia.
Read more..

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