GLOBAL MARKETS-Asian stocks dive although euro edges up
SINGAPORE, May 21 (Reuters) - Asian stock markets slid on Friday as worries about the euro zone prompted more investors to cut risky positions, but trading was choppy as the euro edged higher and the Australian dollar bounced back from a vicious two-day selloff.* In Asian trade, the euro
* On the year, however, the euro is down over 12 percent against the dollar. Despite Thursday's rise, sentiment on the currency remains decidedly negative, with investors concerned about a seeming lack of unity among euro zone leaders in addressing the debt crisis.
* Japan's Nikkei average <.N225> fell as much as 3.2 percent to 9,710.92, a five-month month-low. The index has lost over 5.3 percent since the start of the week, when renewed worries about the euro zone began. [nTOE64K00Y]
* "Investors are shifting toward cash as you can see from such moves as investors were even selling gold yesterday," said Masaru Hamasaki, a senior strategist at Toyota Asset Management. "There's uncertainty over the extent of the fallout from the crisis, such as whether it would end up leading to a halt in financial trades like after the Lehman shock."
* The MSCI index of Asia-Pacific shares outside of Japan <.MIAPJ0000PUS> was down 1.07 percent.
* The Australian dollar
* Spot gold prices
* U.S. crude futures fell below $70 a barrel on fears that crude demand could suffer because of Europe's debt crisis. NYMEX crude for July delivery
No comments:
Post a Comment