Stocks fall worldwide on oil price drop
Stocks fell around the world on Wednesday, impacting majorly the Asian markets, as the price of crude declined on the news that the three-day strike by oil workers in Kuwait ended, suddenly leaving the markets directionless. As concerns about oversupply of oil in the market returned to the forefront, prices of Brent crude and US crude oil futures slumped. Reversing Tuesday’s sharp gains, Brent crude fell by $1.12 to $42.91 a barrel, whereas US crude oil was down $1.09 to $39.99. The concerns over Chinese economy also resurfaced as Shanghai Stock Exchange slid 3.8 percent, with almost all the sectors from telecoms to financials witnessing a slide. The depressing mood of the market also reflected due to 0.3 percent fall in S&P 500 EMINI ...
Chinese stocks regain after circuit breaker suspension
The benchmark Shanghai Composite Index gained 2% to close at 3,186.41 points, after falling as much as 2.2% earlier Source:PTI The circuit breaker, which came into effect on January 1, was triggered on Monday and Thursday, after the key Hushen 300 Index plunged 7% within the first 30 minutes of trading. Major Chinese stocks on Friday bottomed out after the securities regulator decided to terminate the controversial circuit-breaker mechanism that has halted trading twice this week, including after an abrupt sell-off on Thursday that led to heavy losses and spooked global markets. The benchmark Shanghai Composite Index gained 2% to close at 3,186.41 points, after falling as much as 2.2% earlier. The smaller Shenzhen index gained 1.2% to close at 10,888.91 points. The total ...
