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Global Wrap:
Asian Markets Follow U.S. Session Declines
Current Futures: Dow +13.00, S&P +1.80, NASDAQ +3.00
Stock markets throughout Asia fell during the session, following the drops seen during the U.S. session. The Nikkei has declined 2.5 percent and the Australian S&P/ASX has fallen 1.8 percent. The declines were lead by the consumer industry followed by mining companies. Japans largest retailer, Seven & I, has fallen 3.5 percent while the largest mining company in the world, BHP Billiton has declined 2.0 percent.
The MSCI Asia Pacific Index declined 1.6 percent during the morning hours.
The Bank of Japan has released a report stating that the monetary base has increased 6.1 percent for the month.
From Australia, the Bureau of Statistics reported that the gross domestic product has doubled what analysts were expecting. The report showed that the economy has expanded 0.6 percent. The previous quarter had a reading of 0.4 percent
Overnight, the Japanese Nikkei fell 271.71 points (-2.58%) to 10,258.35. The Australian S&P/Asx declined 83.30 points (-1.85%) to 4,431.30
Crude oil for October delivery was recently trading at $68.25 per barrel, higher by $0.20.
Gold for October delivery was recently trading lower by $1.60 to $954.90.