Wednesday, January 23rd, 2008
Foreign Markets Starting to Look Bearish
Domestic indices had a wild ride yesterday, but foreign exchanges have been volatile over the past few days. Most every major foreign exchange tumbled Monday. Some struggled to regain their footing yesterday [Tuesday] while others continued their downward decline.
Here’s a deeper look:
|
Region |
% Change 1/21 |
% Change 1/22 |
Year To Date |
|
|
|
|
|
|
China/Hong Kong |
|
|
|
|
Hang Seng |
-3.8% |
-8.7% |
-22% |
|
Shanghai |
-5.1% |
-7.2% |
-13.9% |
|
|
|
|
|
|
India |
|
|
|
|
Bombay |
-7.4% |
-5% |
-18.5% |
|
|
|
|
|
|
Europe |
|
|
|
|
FTSE 100 |
-5.5% |
+3% |
-11.1% |
|
DAX |
-7.1% |
-0.3% |
-16.1% |
|
CAC 40 |
-6.8% |
+2.1% |
-14.5% |
|
|
|
|
|
|
Japan |
|
|
|
|
Nikkei 225 |
-3.8% |
-5.7% |
-17% |
|
|
|
|
|
|
Brazil |
|
|
|
|
Bovespa |
-6.6% |
+4.5% |
-10.4% |
Markets across the Asia-Pacific region plummeted for the second straight day. The Nikkei 225 saw its worst two-day decline in nearly 20 years, and sank below the 13,000 mark for the first time since September 2005.
Australia’s S&P/ASX 200 experienced its biggest drop since the index was launched in 2000, falling 7.1%.
Hong Kong’s Hang Seng index fell 8.7%. It has dropped 31% since its peak of 31,638.22, hit back in October.
Indian shares plunged 11% within minutes of the opening bell, resulting in a one-hour freeze in trading. When trading resumed, stocks slid another 2% before rebounding.
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