
Asia Markets Cautious As Tokyo's Winning Run Ends
Fahad Shabbir (@FahadShabbir) Published July 20, 2016 | 02:01 PM

HONG KONG,(UrduPoint / Pakistan Point News - 20th july,2016) - Japanese stocks finally fell Wednesday after six straight days of gains, and most other Asian markets moved cautiously following weak leads from New York and Europe and a cut in the IMF's world growth forecast. The Nikkei in Tokyo had surged more than 10 percent during its rally -- fuelled by hopes for stimulus measures as well as a weaker Yen -- and investors decided it was time to cash in. The index ended down 0.3 percent. While the Dow on Wall Street closed at another record, the broad lead from Europe and New York was tepid after the International Monetary Fund lopped 0.
1 percentage point off its outlook for the global economy for both this year and next. The Fund pointed to last month's shock vote for Britain to leave the European Union, saying it had darkened the skies in that country and across the euro area and dented an already fragile recovery. It also downgraded its 2016 growth estimate for the British economy by 0.2 percentage points, putting renewed pressure on sterling, which eased to $1.3095 in Asia and back towards the three-decade lows hit after the June 23 vote.
Related Topics
Recent Stories

UAE strongly condemns terrorist attack near Jerusalem synagogue

Dutch F-35 Fighter Jets Arrive in Poland for NATO Mission - NATO Air Command

Latest 'Twitter File' Release Reveals Company's Skepticism About Russian Bot Cla ..

Hungary to Participate in Protection of Slovakia's Airspace - Slovak Defense Min ..

Brazil Refused Germany's Request to Supply Ammunition for Leopard Tanks - Report ..

Twenty-Five People Charged in Fake Nursing Diploma Scam in Florida - US Attorney
More Stories From Business
-
Gazprombank Investments Denies Data Breach
2 hours ago -
CWDP approves seven development projects worth Rs 22.16b
4 hours ago -
US House Passes Bill to Restrict Use of Strategic Oil Reserve, Boost Energy Production
5 hours ago -
EU Coalition Led by Estonia, Lithuania, Poland Pushing for $40 Russian Oil Cap - Reports
6 hours ago -
CIA Chief Arrives in Israel Amid Recent Escalation in West Bank - Reports
7 hours ago -
CWDP approves seven development projects worth Rs 22.16b
7 hours ago -
Export-led growth cure for country's economic woes: Federal Minister for Planning Development and Sp ..
7 hours ago -
Stock markets fluctuate as US inflation eases
8 hours ago -
Seizure of Russian Funds May Make EU No-Go Investment Area for Rest of World - Expert
8 hours ago -
Japan's Nissan to Recall Over 500,000 Serena, X-Trail Models Over Technical Flaw
8 hours ago -
Russia's Central Bank Assesses Reserve of Ruble, Foreign Currency Liquidity as Adequate
8 hours ago -
Fed Measure for US Inflation Up 5% in December vs 6.8% Six Months Ago
8 hours ago
Education - Urdu News - Car Prices - Breaking News - English News - Live Tv Channels - Urdu Horoscope - Horoscope in Urdu - Muslim Names in Urdu - Urdu Poetry - Love Poetry - Sad Poetry - Prize Bond - Mobile Prices in Pakistan - PTV Sports - English to Urdu - Big Ticket - Translate English to Urdu - Ramadan Calendar - Prayer Times - DDF Raffle - Islamic Calendar - Events - Today Islamic Date - Travel - UAE Raffles - Travel Guide - Arabic - Urdu Cooking Recipes - Directory - Pakistan Results - Past Papers - BISE - Schools in Pakistan - Academies & Tuition Centers
UrduPoint Network is the largest independent digital media house from Pakistan, catering the needs of its users since year 1997. We provide breaking news, Pakistani news, International news, Business news, Sports news, Urdu news and Live Urdu News
© 1997-2023, UrduPoint Network
All rights of the publication are reserved by UrduPoint.com. Reproduction without proper consent is not allowed.