Tags: World | Markets | Wall | Street

Asian Markets Mixed After Wild Day on Wall Street

Tuesday, 04 Oct 2011 11:49 PM

 

  Comment  |
   Contact  |
  Print  
|  A   A  
  Copy Shortlink

BANGKOK — Asian markets struggled for firm direction Wednesday, after a wild session on Wall Street underscored the difficulty in assessing whether Europe was truly on its way to solving its sovereign debt crisis.

Japan's Nikkei 225 index fell 0.9 percent to 8,384.29, while South Korea's Kospi was down 1.5 percent at 1,680.51. But Australia's S&P ASX 200 rose 0.5 percent to 3,892.60. Benchmarks in Singapore, the Philippines and New Zealand were also higher.

Stock markets in Hong Kong and mainland China were closed for a holiday.

On Wall Street on Tuesday, indexes opened sharply lower as traders worried that Greece's government could be closer to defaulting on its debt.

Worries that European and perhaps U.S. banks could get hammered by a Greek default have been a major concern among investors.

But losses were pared after Federal Reserve Chairman Ben Bernanke said in Washington that the central bank could take more steps to stimulate the economy. But Bernanke also said that the economy was weaker than he expected, and that poor job growth continued to undercut consumer confidence.

Following another slump, the market began rising again following reports that European financial ministers were working to coordinate their efforts to support European banks.

The Dow closed with a gain of 1.4 percent to 10,808.71. The Standard and Poor's 500 rose 2.2 percent to 1,123.95, while the technology-focused Nasdaq composite rose 3 percent to 2,404.82.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Eyeing Deadline, France to Back Palestinian State If Peace Talks Fail

Friday, 28 Nov 2014 17:40 PM

France warned on Friday it would recognize a Palestinian state if a final international effort to overcome the impasse b . . .

Charles Faddis: Move Past Ferguson, Focus on Solutions

Friday, 28 Nov 2014 17:17 PM

Michael Brown is gone. There are lots of others like him who are steering their own courses for destruction right now. T . . .

Syria: US-led Strikes Have Not Weakened Islamic State

Friday, 28 Nov 2014 17:13 PM

Syria's foreign minister said U.S.-led air strikes had failed to weaken Islamic State it in Syria and the jihadist group . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved