News Column

Asia stocks fall on Russia-Ukraine concerns

August 7, 2014



MUMBAI, India, Shawwal 10, 1435, Aug 6, 2014, SPA -- Worries over Russian troops amassing near the Ukraine border sent most Asian stock markets lower Wednesday, AP reported.

Japan'sNikkei 225 fell 1.1 percent to 15,159.79 and the Hang Seng in Hong Kong lost 0.5 percent to 24,533.84. The Kospi in Seoul shed 0.3 percent to 2,060.73 and China's Shanghai Composite gave up 0.1 percent to 2,217.24. Markets in Southeast Asia, Taiwan, Australia and India also lost ground.

Asian traders were following the lead of Wall Street, which dropped after news reports of a buildup of Russian troops on the Ukraine border.

Benchmark U.S. crude for September delivery was up 15 cents to $97.54 in electronic trading on the New York Mercantile Exchange. With winter a few months away, Europe's recovering economy remains dependent on Russian natural gas for heat and electricity. Germany imports nearly all its natural gas from Russia, and France also gets a significant amount of its energy needs from Russia.

The Dow lost 139.81 points, or 0.8 percent, to 16,429.47, the lowest level for the index since mid-May. The Standard & Poor's 500 lost 18.78 points, or 1 percent, to 1,920.21 and the Nasdaq composite fell 31.05 points, or 0.7 percent, to 4,352.84.

The dollar fell to 102.51 Japanese yen from 102.61 late Tuesday. The euro dipped to $1.3368 from $1.3371.

--SPA

12:39 LOCAL TIME 09:39 GMT



All Rights Reversed for Saudi Press Agency Provided by SyndiGate Media Inc. (Syndigate.info).


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Source: Saudi Press Agency (Saudi Arabia)


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