Europe re­coup­ing losses, Asia muted af­ter Bel­gian at­tacks

The Pak Banker - - MARKETS/SPORTS -

Euro­pean share prices ap­peared headed to re­coup losses that had fol­lowed the deadly bomb­ings in Bel­gium, while Asian stock in­dexes mostly fell, al­though mod­er­ately, on Wed­nes­day in cau­tious trad­ing.

France's CAC 40 re­cov­ered 0.6 per­cent in early trad­ing to 4,456.18. Ger­many's DAX edged up 0.7 per­cent to 10,057.43. Bri­tain's FTSE 100 was up 0.1 per­cent at 6,201.70. U.S. shares ap­peared headed to lit­tle change with Dow fu­tures un­changed at 17,504. S&P 500 fu­tures inched up 0.03 per­cent at 2,043.10.

News of the at­tacks in Bel­gium, which killed at least 34 peo­ple, had pulled global mar­kets lower, and air­lines and travel com­pa­nies con­tin­ued to slip in Asia. Ma­jor Ja­panese car­rier ANA fell 0.5 per­cent, while HIS Co., a ma­jor Ja­panese travel com­pany, slipped 2.3 per­cent.

"The Brus­sels ex­plo­sions gave the mar­ket a shock yes­ter­day," said Mar­garet Yang Yan, mar­ket an­a­lyst at CMC Mar­kets Sin­ga­pore. "This at­tack, to­gether with a se­ries of ter­ror­ist at­tacks be­lieved to have been per­pe­trated by ISIS since last year, will have an im­pact on in­vestors' con­fi­dence."

Ja­pan's bench­mark Nikkei 225 fell 0.3 per­cent to 17,000.98. South Korea's Kospi edged 0.1 per­cent lower to 1,995.12. Hong Kong's Hang Seng fell 0.3 per­cent to 20,615.23, while the Shang­hai Com­pos­ite rose nearly 0.4 per­cent to 3,009.96. Aus­tralia's S&P/ASX 200 lost 0.5 per­cent at 5,142.30. South­east Asian mar­kets were mostly lower.

US crude slipped 39 cents to $41.06 a bar­rel in elec­tronic trad­ing on the New York Mer­can­tile Ex­change. It fell 7 cents to $41.45 a bar­rel on Tues­day. Brent crude, the bench­mark for in­ter­na­tional oils, fell 19 cents to $41.60 a bar­rel in Lon­don. The euro fell slightly to $1.1195 from $ $1.1200, while the dol­lar rose to 112.49 yen from 111.65 yen.

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