Hong Kong Stocks Fall Again On Mixed Day For Global Equities
Mohammad Ali (@ChaudhryMAli88) Published September 17, 2021 | 09:00 AM
New York, Sept 17 (UrduPoint / Pakistan Point News - 17th Sep, 2021 ) :Global stocks were mixed again Thursday, with Asian markets enduring another ugly session and US stocks meandering to a nearly flat finish despite better-than-expected retail sales data.
Hong Kong stocks fell for a fourth straight day as casinos extended the previous session's rout, while Tokyo and Shanghai also retreated.
European stocks rebounded, while Wall Street indices finished little change following mixed US data.
Defying expectations for another drop after falling in July, US retail sales posted a 0.7 percent rebound last month even as car sales sharply declined.
But on the downside, initial US jobless claims for the week ended September 11 were 332,000, above analysts' forecasts and 20,000 more than the week prior.
The market is "sort of in a tug of war right now," said Art Hogan, chief strategist at National Securities.
"Should we believe the concern we have over the slowing because of Covid-19, or should we believe the data over the last two days that shows some improvement in economic activity?" Markets have been pulled in recent weeks between confidence in the economic recovery versus the impact of the Delta variant of the coronavirus, which has further complicated already difficult supply chain situations in some sectors.
In Asia, stock markets struggled to recover from the previous day's sell-off, with Hong Kong dropping 1.5 percent in the aftermath of Macau's announcement that it would crack down on the casino industry.
Trillions of Dollars were wiped off the valuations of the six listed firms in reaction to Macau's proposals, which include putting a government representative on their boards.
The announcement fanned concerns that the days of multi-billion-dollar revenues are gone in Macau, which before the pandemic raked in more in a week than Las Vegas did in a month.
Sentiment in Asia was also hit by concerns about the spreading Delta coronavirus variant and its impact on the economic rebound.
In addition, traders are keeping tabs on Chinese property developer Evergrande, which is drowning in a sea of debt that could see it crash into a bankruptcy observers fear could have an impact far and wide.
- Key figures around 2050 GMT - New York - Dow: DOWN 0.2 percent at 34,751.32 (close) New York - S&P 500: DOWN 0.2 percent at 4,473.75 (close) New York - Nasdaq: UP 0.1 percent at 15,181.92 (close) London - FTSE 100: UP 0.2 percent at 7,027.48 (close) Frankfurt - DAX 30: UP 0.2 percent at 15,651.75 (close) Paris - CAC 40: UP 0.6 percent at 6,622.59 (close) EURO STOXX 50: UP 0.6 percent at 4,169.87 (close) Tokyo - Nikkei 225: DOWN 0.6 percent at 30,323.34 (close) Hong Kong - Hang Seng Index: DOWN 1.5 percent at 24,667.85 (close) Shanghai - Composite: DOWN 1.3 percent at 3,607.09 (close) Euro/dollar: DOWN at $1.1773 from $1.1817 at 2100 GMT Wednesday Pound/dollar: DOWN at $1.3798 from $1.3840 Euro/pound: DOWN at 85.29 pence from 85.38 pence Dollar/yen: UP at 109.71 Yen from 109.38 yenBrent North Sea crude: UP 0.3 percent at $75.67 per barrelWest Texas Intermediate: FLAT at $72.61 per barrel
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 28 April 2024
Today Gold Rate in Pakistan 28 April 2024
Fresh wave of rainfall in AJK continues for the second consecutive day
Babar, bowlers help Pakistan level series 2-2 against New Zealand
Attack in restive Chilean province leaves three police officers dead
PM, Saudi Royal court advisor discuss ways to boost economic ties
England clinch third successive Women's Six Nations Grand Slam
DC Bahawalnagar leads fight for fair bread prices
Sheffield Utd relegated from Premier League
02 proclaimed offenders arrested by Wah Police
Pakistan level T20I series with nine-run victory over New Zealand
Minister meets Chinese Consul General, discusses bilateral cooperation, Chinese ..
More Stories From Miscellaneous
-
Stage Drama Mohabati Manhoon presents in Arts council Larkana
8 hours ago -
Wheat farmers in a fix on price, procurement mechanism
19 hours ago -
Modern tools to help transform crime investigation procedures
19 hours ago -
Sanam Marvi captivates audience with mesmerizing performance
1 day ago -
Modern Education Techniques: A pathway to achieve economic development
3 days ago -
Kite Flying: From cultural festival to deadly sport
3 days ago
-
PDMA predicts gusty wind, rain with thunder, hails
5 days ago -
Iranian president Raisi given guard of honour at PM House
7 days ago -
Intellectuals, writers accolades Naseer Mirza on his literary contribution
7 days ago -
Bahawalpur Adabi Sangat hosts memorable mushaira
8 days ago -
Cattle farming vital to alleviate poverty in rural areas
8 days ago -
Pakistan: A land of tourism, archeological wonders
8 days ago