Taiwan shares plunge by 1.55pc
Shares in Taiwan fell sharply by more than 1.5 percent Friday as investors turned wary about the stock market outlook ahead of the release of the U.S. February job data, one of the most important factors expected to influence the Federal Reserve’s ongoing rate hike cycle, dealers said. In the wake of the heavy losses on the U.S. markets overnight, the local bellwether electronics sector came under pressure, led by large-cap semiconductor stocks, while a sell-off was also seen among old economy and financial stocks, adding more downward pressure on the local main board, dealers added. The Taiex, the weighted index on the Taiwan Stock Exchange, ended down by 244.46 points, or 1.55 percent, at 15,526.20 after moving between 15,488.71 and 15,729.29. Turnover totaled NT$288.98 billion (US$9.36 billion). The market opened down by 0.26 percent and selling soon escalated as investors took cues from declines on the U.S. markets, where the Dow Jones Industrial Average fell by 1.66 percent and the tech-heavy Nasdaq index fell by 2.05 percent on Thursday amid caution before the release of the U.S. non-farm payroll data for February, dealers said.
Canada stocks-TSX falls to 2-month low
Canada’s benchmark stock index fell on Thursday to its lowest closing level in nearly two months, tracking declines on Wall Street as investors grew nervous ahead of the release of U.S. and Canadian employment reports on Friday. The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE ended down 259.81 points, or 1.3 percent, at 20,086.72, its lowest close since Jan. 11. Wall Street’s major indexes also posted steep declines as investors worried that the U.S. jobs report for February could spur aggressive interest rate hikes by the Federal Reserve. Markets have been on edge after Fed Chair Jerome Powell delivered a message this week of higher and potentially faster rate hikes.
Saudi Arabia stocks higher at close of trade
Saudi Arabia stocks were higher after the close on Thursday, as gains in the Petrochemicals, Real Estate Development and Insurance sectors led shares higher. At the close in Saudi Arabia, the Tadawul All Share added 0.51 percent. Rising stocks outnumbered declining ones on the Saudi Arabia Stock Exchange by 158 to 81 and 25 ended unchanged. Shares in Thimar Development Holding Co rose to 3-years highs; gaining 9.95 percent or 2.75 to 30.40. Crude oil for April delivery was up 0.91 percent or 0.70 to $77.36 a barrel. Elsewhere in commodities trading, Brent oil for delivery in May rose 0.94 percent or 0.78 to hit $83.44 a barrel, while the April Gold Futures contract rose 0.51 percent or 9.25 to trade at $1,827.85 a troy ounce. EUR/SAR was up 0.25 percent to 3.97, while USD/SAR unchanged 0.00 percent to 3.75.
Sensex sheds 670 pts
Indian shares fell more than a percent on Friday, dragged by financials, on concerns of a prolonged high-interest rate regime, while investors awaited the key US nonfarm payrolls data due later in the day. The Nifty 50 index fell 175 points to close below 17,500, at 17,412, while the S&P BSE Sensex lost 670 points to close at 59,135. Most of the major sectoral indexes declined, with high-weightage Financials, Metal and IT losing the most, while FMCG and Consumer Durables remained the only sectors to end in green with marginal gains.
Japan stocks lower at close of trade
Japan stocks were lower after the close on Friday, as losses in the Power, Textile and Shipbuilding sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 1.67 percent. Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 3042 to 594 and 198 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 3.58 percent to 17.94 a new 1-month high. Crude oil for April delivery was down 0.90 percent or 0.68 to $75.04 a barrel. Elsewhere in commodities trading, Brent oil for delivery in May fell 0.66 percent or 0.54 to hit $81.05 a barrel, while the April Gold Futures contract rose 0.22 percent or 4.05 to trade at $1,838.65 a troy ounce. USD/JPY was up 0.14 percent to 136.33, while EUR/JPY rose 0.32 percent to 144.51.
France stocks lower at close of trade
France stocks were lower after the close on Thursday, as losses in the Healthcare, Consumer Goods and Industrials sectors led shares lower. At the close in Paris, the CAC 40 lost 0.12 percent, while the SBF 120 index fell 0.15 percent. Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 306 to 220 and 107 ended unchanged. Shares in Schneider Electric SE rose to 52-week highs; gaining 1.59 percent or 2.46 to 157.60. Shares in Dassault Aviation SA rose to all time highs; gaining 12.21 percent or 19.50 to 179.20. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was unchanged 0.00 percent to 18.96 a new 52-week high. Gold Futures for April delivery was up 0.79 percent or 14.30 to $1,832.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April fell 0.39 percent or 0.30 to hit $76.36 a barrel, while the May Brent oil contract fell 0.36 percent or 0.30 to trade at $82.36 a barrel.
Dow closes 570 points lower
Stocks sold off sharply Tuesday after comments from Federal Reserve Chair Jerome Powell suggested that rates may need to go higher for longer, fueling fears of a potentially larger hike at the central bank’s next policy meeting. The Dow Jones Industrial Average shed 574.98 points, or 1.72 percent, to end at 32,856.46. The S&P 500 lost 1.53 percent to close at 3,986.37 and below the 4,000 level. The Nasdaq Composite dropped 1.25 percent to settle at 11,530.33. As the major stock indexes fell, the 2-year Treasury yield jumped to its highest level since 2007 at 5 percent. Tuesday’s selloff brings the Dow into negative territory for 2023, down about 0.9 percent. The S&P and Nasdaq are up about 3.8 percent and 10.2 percent, respectively, for the year.