Our Markets seen to to open on cautious note amid China data, Q3 numbers.At 8.55 am, SGX Nifty50 futures on the Singapore were trading 14.00 points or 0.19% higher at 7,373.00, indicating a positive opening OF the marketS. China released its fourth quarter GDP data at 6.8 percent, marginally lower than expected, compared to 7.3 percent last year.
Markets in Asia closed mostly lower Monday, on the back of another Wall Street sell-off Friday. The Shanghai Composite closed up 13.51 points, or 0.47%, at 2,914.48. In Japan, the Nikkei 225 retraced some of its early losses to close down 191.54 points, or 1.12%, at 16,955.57. Hang Seng Closed down 283.32 points or 1.45% down at 19237.45. South Korea's Kospi closed flat at 1,878.45. Taiwan's Taiex closed up 49.17 points, or 0.63%. Australia's ASX 200 index closing down 34.10 points, or 0.70%.
European stock markets began the week on the back foot as oil prices touched fresh multiyear lows and participants continued to fret about the outlook for China.Overall trading activity was light due to closure of US markets for the Martin Luther King Jr holiday.The Stoxx Europe 600 turned down 0.36% to 329.30. Germany’s DAX 30 DAX down 0.25% at 9,521.85.France’s CAC 40 turned down 0.49% to 4,189.59 The U.K.’s FTSE 100 trading at a three-year low,slipped back by 0.42% to 5779.92 .
Oil price falls below $28 a barrel, or less than the cost of an actual barrel. The oil price has continued to slide after the lifting of economic sanctions against Iran. Brent crude fell as low as $27.67 a barrel, the cheapest since late 2003, before partially recovering to $28.63, still down 1.1 per cent on the day. US West Texas Intermediate touched $28.36 and was last quoted at $28.94, down 1.6 per cent.
All major Financial Markets in U.S. are closed Monday for the Martin Luther King Jr. holiday, but it’s business as usual for markets overseas. U.S. stock futures gave up a lead and turned lower on Monday in a shortened session of trading, as oil prices began to push deeper into negative territory.
Asian markets are mixed today as Chinese and Hong Kong shares fall. The Shanghai Composite is up0.11% while the Hang Seng is down 0.09%. The Nikkei 225 is trading with a loss of 0.72%.