Global Shares plunge in worst day since financial crisis

Global shares plunged on Monday and prices for crude oil tumbled as much as 33per cent after Saudi Arabia launched a price war with Russia, sending investors already worried by the coronavirus fleeing for the safety of bonds and the yen.

Global Shares

  • The Nikkei 225 in Japan fell 5.07% to close at 19,698.76, while the Topix was down 5.61% to end its trading day at 1,388.97.
  • Mainland Chinese stocks saw sharp declines on the day, with the Shanghai composite down 3.01% to about 2,943.29 while the Shenzhen component shed 4.09% to 11,108.55. The Shenzhen composite slipped 3.786% to around 1,842.66.
  • Hong Kong’s Hang Seng index plunged 4.23% to close at 25,040.46.
  • South Korea’s Kospi also dropped 4.19% to close at 1,954.77. Stocks in Australia tanked, with the S&P/ASX 200 down 7.33% to close at 5,760.60.
  • Overall, the MSCI Asia ex-Japan index fell 4.97%.

Currencies

  • The dollar extended its slide to 101.58 yen , depths not seen since late 2016. It was last down nearly 3per cent at 102.42.
  • The euro shot to the highest in over 13 months at US$1.1492 , to be last at US$1.1410.

Oil Prices

  • Brent crude and U.S. crude futures slid as much as US$14 to trade at US$31.02 and US$27.34 a barrel in chaotic trade before recovering some of their losses.

Gold Price

  • Gold initially cleared US$1,700 per ounce to a fresh seven-year peak, only to fall back to US$1,677.4 amid talk some investors were having to sell to raise cash to cover margin calls in stocks.

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More