Investing.com - Financial Markets Worldwide

Weak Chinese Demand Pressures Asian Markets

ByBinary Options Strategy
Published 07/10/2012, 06:58 AM
Updated 05/14/2017, 06:45 AM
NDX
-0.29%
DE40
0.58%
JP225
0.29%
HK50
1.03%
Equities

Asian markets fell on Monday, as Friday’s weak US jobs reports, combined with disappointing Chinese data, weighed on stocks. Both CPI and PPI data from China fell short of forecasts, pointing to a significant drop in demand from both consumers and manufacturers. The Shanghai Composite tumbled 2.4% to 2171, leading the region lower, and the Hang Seng tanked 1.9% to 19428. The Nikkei sank 1.4% to 8897, the Kospi slumped 1.2% to 1836, and the ASX 200 dropped 1% to 4118.
Shanghai Se Comosiye Index
Shanghai Composite Tumbles 2.4%
European markets traded lower as well, extending their losing streak to 4 days. The FTSE fell .6%, while the CAC40 and DAX dropped .4%. Metro shares tumbled 6.3% after warning that the debt crisis is weakening demand in Germany.

In the US, the major indexes closed moderately lower, ahead of the earnings season. The Dow slipped 36 points to 12736, the Nasdaq eased .2% to 2932, and the S&P 500 edged down 2 points to 1352.

Currencies
European currencies posted marginal gains on Monday, as the pound, euro, and Swiss franc all closed up .3%. The Canadian dollar and Australian dollar were both little changed, and the yen rose .1% to 79.57.

Economic Outlook
Consumer credit blew past forecasts, climbing to 17.1B, versus forecasts of 8.7B. Last month’s data was also upwardly revised to 10B from 6.5B.

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.