Asian Stocks
Asian stocks were seen falling on Wednesday, tracking Wall Street losses after US equities fell to a two-month low while tensions in Ukraine escalates as Russia gather troops on the border.
The Japanese Nikkei 225 index slid 1.05% lower to close at 15,159.79 point, while Tokyo’s Topix index edged 0.97% to 1,251.91 points.
The Japanese multinational cooperation Pioneer fell 2.92%, while the stainless steel makers Pacific Metals tumbled 16.06% after forecasting a full-year decline of 415 million yen and its ratings was reduced to underperform at Mizuho Securities.
Meanwhile, the Japanese industrial machinery manufacturer Kubota Corp., were one of the session’s winners as shares climbed 8.9% to 1,406.5 yen after it reported profit jumped as the first-quarter net income came in 8.4% higher to 33.4 billion yen.
Hong Kong’s Hang Seng index fell 0.36% lower, trading at 24,559.87 points at the time of writing, while the Chinese mainland Shanghai Composite came in at 0.09% to 2,222.02 points.
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The Chinese telecom company lost 4.23% as China International Capital Corp analyst Haofei Chen said the company’s quarterly profit is expected to drop 3.7% to 3.3 billion yuan.
Aluminum Corp of China shares rose 7% after the government allowed the aluminum multinational company to create a rare earth group.
The South Korean Kospi index lost 0.27%, closing at 2,060.73, while Australia’s benchmark S&P/ASX 200 index fell 0.25% lower to 5,504.70 points.
US Services Industries
The services industries for the world’s largest economy grew faster than expected in July, according to a report from the institute for Supply Management. A separate report released showed that factory orders added 1.1% in June, compared to analysts forecast of a 0.6% rise.
European stocks
Equities market in Europe opened with a sharp drop amid worries over the ongoing tension between Russia and Ukraine.
The European Euro Stoxx 50 fell 0.86% opening at 3,045.72, while the French CAC 40 slid 0.75% top open at 4,201.75 at the time of writing. At the same time UK’s benchmark FTSE 100 edged 0.71% lower to 6,635.58 and the German DAX declined 1.10% to 9,089.02.
Ukraine
Traders continue to focus on the ongoing tension between Ukraine and Russia as Russia gathered around 20,000 troops on Ukraine’s border, more than the 15,000 US officials that were deployed to the region last week.
On Tuesday, Poland’s Minister of Foreign Affairs Radosław Sikorski warned the renewed tensions of Russian troops on the Ukrainian boarder may signal an invasion and set off a conventional war in Europe.
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