Global Shares Track Wall St. Weakness 01/17 06:11
Shares were lower Wednesday in Asia after a flip-flop session on Wall
Street, where the Dow industrial average ended almost flat after backtracking
from a broad rally earlier in the day.
TOKYO (AP) -- Shares were lower Wednesday in Asia after a flip-flop session
on Wall Street, where the Dow industrial average ended almost flat after
backtracking from a broad rally earlier in the day.
KEEPING SCORE: Britain's FTSE 100 slipped 0.3 percent to 7,733.92 and the
CAC 40 of France also fell 0.3 percent, to 5,500.18. Germany's DAX lost 0.2
percent to 13,220.70. Wall Street looked set to regain momentum, with Dow
futures up 0.4 percent at 25,933.00 and S&P 500 futures up 0.2 percent to
ASIA'S DAY: Japan's Nikkei 225 index lost 0.4 percent to 23,868.34 and the
Kospi in South Korea shed 0.3 percent to 2,515.43. Australia's S&P/ASX 200
dropped 0.5 percent to 6,015.80. Hong Kong's Hang Seng rebounded from earlier
losses to gain 0.3 percent, closing at 31,983.41 while the Shanghai Composite
index added 0.2 percent to 3,444.67.44. India's Sensex added 0.8 percent to
35,035.49. Shares in Southeast Asia were mixed.
ANALYST VIEWPOINT: "U.S. equity markets flip flopped returning from the
Martin Luther King Day holiday and coupled with the softer oil prices, set
Asian markets for a day of contemplation," Jingyi Pan of IG said in a
JAPAN MACHINERY: Orders for machinery were the highest in almost a decade in
November, rising nearly 12 percent from a month earlier, the government
reported Wednesday. The strong demand suggests companies are investing to
expand production capacity that likely would support growth in coming months,
BITCOIN: The price of bitcoin extended its slump, triggered by comments by a
South Korean financial policymaker who said that banning trading in digital
currencies was an option. The price of one bitcoin fell 5 percent to $10,784.02
as of 0930 GMT Wednesday according to the tracking site CoinDesk. Bitcoin
futures on the Cboe Futures Exchange were down 2.3 percent at $10.800. The
futures allow investors to make bets on the future price of bitcoin. The price
of bitcoin soared last year after starting 2017 under $1,000, but has
languished this year amid signs of increased scrutiny from governments. Many
finance pros believe bitcoin is in a speculative bubble that could burst any
ENERGY: Benchmark U.S. crude shed 12 cents to $63.61 per barrel in
electronic trading on the New York Mercantile Exchange. It fell 57 cents to
$63.73 per barrel on Tuesday. Brent crude, used to price international oils,
lost 24 cents to $68.91.
CURRENCIES: The dollar rose to 110.76 yen from 110.49 yen on Tuesday. The
euro weakened to $1.2237 from $1.2258.