Our Markets seen to open on a positive note taking cuefrom Asian peers. At 08:50 am (SGX Nifty50 futures IN Singapore were trading 51 points or 0.69%higher at 7,367.50, indicating a gap-up opening of the markets.
World stock markets plunge as oil prices sink. The MSCI All-Country World Index, which measures major developed and emerging markets, fell into a bear market Wednesday.
Asia Pacific stock markets have been pummelled as investors took fright at a continued slide in oil prices and mounting bearish sentiment about the global economy. Hong Kong stocks hit a 3½-year low and Japan’s Nikkei closed in bear market territory, as this year’s global selloff resumed in the region on Wednesday. Chinese stocks in Hong Kong, falling 4.2%, dragged down the Hang Seng Index , which dropped 3.82% to 18946.4. The Nikkei Stock Average closed down 3.71% at 16416.19. The Shanghai Composite Index was down 1.03%. The South Korea’s Kospi fell 44.19 points or 2.34%.. Australia’s S&P/ASX 200 finished down 61.54 points or 1.26% to 4841.50.
European shares have slid to their lowest since October 2014 ton Wednesday following losses in US and Asian stock markets as the relentless slump in oil prices continued to drag on markets. The pan-European STOXX 600 ended deep in the red, off 3.20 % to 322.29. The FTSE 100 slumped 3.46% to 5673.58. Germany’s DAX 30 logged a 2.82% loss at 9,391.64 and France’s CAC 40 was yanked 3.45% lower to 4,124.95. Italy’s FTSE MIBstumbled 4.83% to 17,967.91.
U.S. stocks closed lower Wednesday but well above session lows as the S&P 500 held a technical level and biotechs recovered in late trade. The S&P 500 closed down 22 points, or 1.17%, at 1,859. The Dow Jones Industrial Average closed down 249.28 points, or 1.56%, at 15,766.74. The Nasdaq Composite erased most of a 145-point drop to close 5.26 points, or 0.12%, lower at 4,471.69.
U.S. oil prices crashed below $27 dollars a barrel on Wednesday for the first time since 2003, caught in a broad slump across world financial markets .U.S. benchmark West Texas Intermediate (WTI)) prices for February delivery settled at $26.55 a barrel, down $1.91, or 6.71 percent. Brent Futures fell by 91 cents to $27.87 a barrel, up slightly from a trough of $27.10.
Global equity rout sinks copper, buoys gold.Gold futures breached psychological resistance Wednesday afternoon as a collapsing global equity environment spurred flight to safety buying.Gold for February delivery on the Comex division of the New York Mercantile Exchange rose $17.10 to close at $1,106.20 per ounce. Comex silver for March settlement rose 3.9 cents or 0.3 percent to $14.160 per ounce.. Comex silver for March settlement rose 3.9 cents or 0.3 percent to $14.160 per ounce.
Markets in Asia mostly advanced Thursday, despite another selloff on Wall Street over night. However, markets are trading mixed, taking a cue from the late pull back on Wall Street. The Shanghai Composite is down 0.29% while the Hang Seng is up 1.30%. The Nikkei 225 is trading.1.62% in greenSouth Korea's Kospi see-sawed between gains and up by 0.55% . Australia's ASX 200 IS traded up 1.O5%,