World stocks tumbled massively
By 4 pm today (GMT), the MSCI index of Asia – Pacific region fell 1% to 147.35, the strongest since early May, when 9 out of 10 industry groups in the index fell. The MSCI All-Country World Index lost 1.5%, the most since February.
Closed today, Topix (Japan) lost 0.6%, the S & P / ASX 200 lost 1.4% Australia – The most powerful 4 months. Singapore’s Straits Times Index fell 0.9%, while the Kospi (Korea) fell 0.2%.
“Investors have plenty of reasons to sell stocks. Geopolitical tensions are rising, the information from the United States showed that the Fed could raise interest rates sooner than expected. The situation also led Argentina market insecurity “, Angus Gluskie – Director of White Funds Management investment fund comment.
Electronic board outside a securities company in Japan. Photo: Bloomberg
The situation in China has led many investors worried. “The challenge in China is still there. The government should ensure that bubbles do not occur in areas such as real estate, and help the economy very smooth transition, “Tim Schroeders – Pengana Capital fund manager comment.
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Only Hong Kong’s Hang Seng lost 0.9% today after the biggest drop since January 2012 in 7 months in Shanghai Shanghai Composite down 0.7% as well.
Shares many large companies in Asia also tumbled today. Skymark Airlines – the 3rd largest airline in Japan fell 11% declaring bankruptcy may pay a penalty if so cancel orders for Airbus A380s 6. Samsung Electronics fell 3.8% after UBS lowered rating from “Buy” to “Neutral”. Cheung Kong billionaire Li Ka-shing also lost 4.7% after it announced profits as expected.
European stocks today has not escaped decline when many companies announce lower expected profits. The Stoxx 600 fell 0.7% at 4am (GMT). The index has lost 1.7% in the previous month due to escalating tensions between Russia and Ukraine. This is the 2nd consecutive months reduced the Stoxx 600.
By 5pm (GMT), Germany’s Dax index was down 2% in the session, the FTSE 100 (England) lost 1.17%, while the Cac 40 (France) fell 1.08%. Shares of ArcelorMittal – the largest steel maker world lost 5% due to lower profit forecast by more than $ 7 billion, compared with $ 8 billion previously.
US stocks also tumbled yesterday as investors profit-taking. S & P 500 ended the day down 2%, and 1,930 points. Dow Jones fell 1.9%, erased all gains from the beginning of the year when Exxon Mobil shares and Micron Technology plummeted as a result of weak business. Nasdaq also lost 2% yesterday.
“The Fed is gradually withdrawing stimulus and market shares are high enough for investors to quickly sell for profit. He will also see many more days like today. They all know about to enter the market correction “, Wayne Wilbanks – chief investment officer at asset management firm Wilbanks, Smith & Thomas said.