Most Asian stock markets sank Thursday after US growth data fell well short of forecasts, sending the dollar to a near two-month low against the euro as the chances of an interest rate hike in early summer faded.The single currency was also supported by hopes Greece will reach a bailout reform deal with its creditors.
Tokyo tumbled 1.91 per cent as the yen rose against the greenback, while Hong Kong lost 0.39 per cent, Sydney fell 0.71 per cent and Seoul was 0.52 per cent lower. Shanghai was flat.
The Commerce Department said Wednesday that the US economy grew at an annualised rate of 0.2 per cent in January-February, far short of the 1.0 per cent projected by analysts. The result is the latest indicating weakness in the world's number one economy.
Later in the day the US Federal Reserve said the slowdown was due "in part" to transitory factors and expansion should continue at a "moderate pace".
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment