The Australian sharemarket has closed 0.94% lower on Thursday, following the broadly negative cues from Wall Street overnight, amid ongoing concerns over the deteriorating health of the global economy and the possibility of higher interest rates leading to a recession.
Asia-Pacific markets traded lower, following a negative lead from Wall Street which is on track to finish its worst year since 2008. Japan’s Nikkei 225 fell 0.94% to close at 26,093.67. South Korea’s Kospi dropped 1.93% to 2,236.4. In mainland China, the Shanghai Composite declined 0.44% to 3,073.7 and the Shenzhen Component traded lower to close at 10,996.4. Hong Kong’s Hang Seng index dropped 0.97%.
European markets retreated on Thursday morning. Germany’s DAX lost 0.26% at the opening bell, while London’s FTSE 100 declined 0.50%, and France’s CAC 40 fell 0.42%.
Major stock market indices in Europe closed higher on Thursday despite opening in the red territory. The DAX closed 0.97% while the FTSE 100 advanced by 0.15%. The CAC 40 rose 0.97%.
Major stock exchanges on Wall Street were above the flatline on in the premarket trading on Thursday. The Dow Jones Industrial Average edged up by 0.14% at 4:03 am ET. The Nasdaq 100 and the S&P 500 rose by 0.63% and 0.25% respectively at the same time.
Stocks have moved sharply higher in morning trading on Thursday. The Nasdaq is up 225.02 points or 2.2% at 10,438.31, the S&P 500 is up 59.51 points or 1.6% at 3,842.73 and the Dow is up 324.84 points or 1.0% at 33,200.55.
Oil prices ticked down on Thursday. Brent futures for February delivery fell 42 cents, or 0.5%, to $82.84 a barrel, by 0123 GMT, while U.S. crude fell 50 cents, or 0.6%, to $78.46 per barrel.
Gold prices ticked up on Thursday. Spot gold was up 0.2% to $1,807.57 per ounce as of 0303 GMT, after dropping 1% in the last session. U.S. gold futures fell 0.1% to $1,814.30, according to Reuters.
The euro gained 0.25% against the U.S. dollar, to change hands to $1.06342 at 4:04 am ET.
The Australian dollar declined to 3-day lows of 0.6711 against the greenback and 1.5850 against the euro, from its early highs of 0.6756 and 1.5728, respectively.
The Japanese yen rose to 133.47 against the greenback, 160.70 against the pound and 144.00 against the franc, from its early lows of 134.45, 161.53 and 144.70, respectively.
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