Indices Decline Due to Political Tension in the Ukraine
August 28, 2014 2:55 pm
August 28, 2014 – Indices News
Asian markets continued to decline despite strong industrial profits data from China. The main factor weighing down Asian markets has been an increase in the value of the yen – which has reduced the value of the export income received by Japanese firms. Thus, companies like Toyota Motors have slid. In addition, the mining sector continues to weigh Australian equities down, with NHP Biliton dropping substantially. All in all, the Nikkei ended down 0.48%, the Hang Seng ended down 0.71%, and the ASX 200 ended down 0.47%.
European markets are also facing decline after reaching one month highs very recently. The first main source of this drop was worse than expected German unemployment data, which showed that unemployment did not decrease as much as thought in the Eurozone’s largest economy. Second of all, tension in the Ukraine over Russia’s role in helping the rebels has caused many investors to seek safer assets. Even when factoring in better than expected GDP data from the United States, the downward pressure on European markets is too strong, and now we can see that the Stoxx 50 is down 0.96%, the FTSE is down 0.28%, and the DAX is down 1.26%.
US markets have also declined despite better thane expected US data. Retailers like Williams-Sonoma and Abercrombie & Fitch have led stocks downward, while the situation in Eastern Europe has pushed panicky investors out of the market. Due to the upcoming holiday in the US as well as the generally reduction in activity during the late summer, we may not see markets rebound so quickly. For now, the Dow is down 0.35%, the S&P is down 0.32%, and the Nasdaq is down 0.39%.
August 28, 2014 – Indices News
Asian markets continued to decline despite strong industrial profits data from China. The main factor weighing down Asian markets has been an increase in the value of the yen – which has reduced the value of the export income received by Japanese firms. Thus, companies like Toyota Motors have slid. In addition, the mining sector continues to weigh Australian equities down, with NHP Biliton dropping substantially. All in all, the Nikkei ended down 0.48%, the Hang Seng ended down 0.71%, and the ASX 200 ended down 0.47%.
European markets are also facing decline after reaching one month highs very recently. The first main source of this drop was worse than expected German unemployment data, which showed that unemployment did not decrease as much as thought in the Eurozone’s largest economy. Second of all, tension in the Ukraine over Russia’s role in helping the rebels has caused many investors to seek safer assets. Even when factoring in better than expected GDP data from the United States, the downward pressure on European markets is too strong, and now we can see that the Stoxx 50 is down 0.96%, the FTSE is down 0.28%, and the DAX is down 1.26%.
US markets have also declined despite better thane expected US data. Retailers like Williams-Sonoma and Abercrombie & Fitch have led stocks downward, while the situation in Eastern Europe has pushed panicky investors out of the market. Due to the upcoming holiday in the US as well as the generally reduction in activity during the late summer, we may not see markets rebound so quickly. For now, the Dow is down 0.35%, the S&P is down 0.32%, and the Nasdaq is down 0.39%.
Related Posts: