ibusinesslines.com
ibusinesslines.com July 23, 2018


Seoul shares open lower amid tensions over North Korea

13 August 2017, 02:58 | Kelvin Horton

Seoul shares open lower amid tensions over North Korea

Investors us stocks stock market us north korea

South Korea's KOSPI fell 1.8 percent to an 11-1/2-week low, but its losses for the week are a relatively modest 3.2 percent. Health care companies were among the gainers.

Macy's was down 4.4 percent after the company said its sales continued to decline in the second quarter.

"Japanese equities hadn't been rising much despite positive earnings results, so investors had started jumping at shadows, doubting whether they should really be holdings onto Japanese stocks".

The Dow Jones Industrial Average .DJI ended down 33.08 points, or 0.15 percent, at 22,085.34, snapping a 9-day streak of closing records.

The dollar weakened after news that US producer prices unexpectedly fell in July, recording their biggest drop in almost a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase.

Trump ratcheted up his rhetoric toward North Korea on Thursday, saying it should be "very, very nervous" if it even thinks about attacking the United States or its allies, after Pyongyang said it was making plans to fire missiles over Japan to land near the U.S. Pacific territory of Guam. The stock was the biggest decliner in the S&P 500, losing $166.50 to $1,882.50. While the UK's FTSE 100 Index slid by 0.6%, the German DAX Index slumped by 1.1% and the French CAC 40 Index tumbled by 1.4%.

Away from the geopolitical drama, US inflation data is due at 1330 GMT. The Russell 2000 index of smaller-company stocks gave up 13 points, or 0.9 percent, to 1,396. Netflix also fell, giving up $2.58, or 1.4 percent, to $175.78.

Seagate Technology gained 2.3 percent after investor ValueAct disclosed that it had acquired a 7.2 percent stake in the digital storage company. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.57 percent lower, while Japan's Nikkei percent. On the Nasdaq, 1,846 issues fell and 953 advanced favoring decliners. Kohl's also declined, sliding $3.62, or 8.6 percent, to $38.31.


BONDS: Bond prices rose.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.19 percent from 2.20 percent late Thursday. The Dow shed 0.2 percent.

OIL: Benchmark U.S. crude added 39 cents to settle at $49.56 a barrel on the New York Mercantile Exchange.

Oil prices edged higher after a report showed United States refineries processed record amounts of crude in the latest week, eating into inventories, although a surprise jump in gasoline stockpiles limited gains.

In other energy futures trading, wholesale gasoline was little changed at $1.62 a gallon, heating oil rose 2 cents to $1.65 a gallon and natural gas rose 6 cents to $2.88 per 1,000 cubic feet.

The market's backstop safety asset, gold, edged up to its latest two-month high of $1,288 an ounce.

The December gold contract was ahead $16.70 to US$1,279.30 an ounce. USA gold futures gained 1.63 percent to $1,283.20 an ounce.

Japanese markets were closed for a holiday but the yen powered on, hitting an eight-week high of 108.91 yen to the dollar, adding to its biggest weekly gain since May.



Other News

Trending Now

Inmovilizan en el País Vasco español partida de 20.000 huevos contaminados
Los huevos, procedentes de Holanda y comprados a un distribuidor belga, fueron adquiridos por la firma Danæg Products, que los vendió sobre todo a cantinas y servicio de catering, informó en un comunicado la Dirección General de Alimentación danesa.

Public Libraries Giving Away Solar Eclipse Glasses
Fort Smith Public Library - They will also be having viewing parties at the different branches with glasses available. And if the glasses are damaged with a scratch or a hole - that means they're defective and potentially unsafe .

Tottenham target not named in their club's match day squad
The deal would eclipse the £30m Spurs spent on both Erik Lamela in 2013 and Moussa Sissoko on deadline day a year ago . Christian Eriksen also joined Spurs from the Dutch club and all three have been a huge success in north London.

Venezuela's Maduro Calls for Urgent Summit of 33 Regional Leaders
A reporter asked if he meant to say the USA would lead a military operation in the South American country. Violent demonstrations since April have left more than 120 people dead in the country.

Shares hit by US-North Korea tensions
Penney slumped 16.56 percent to a record low after the retailer reported a bigger-than-expected quarterly loss. Meanwhile, the dollar USDJPY, -0.31% fetched ¥109.69, compared with ¥110.31 late Tuesday.

'I'm ok' says Nigeria president after 3-month absence
Nigeria's President Muhammadu Buhari says he feels healthy enough to return home and is only awaiting permission from his doctor. To convince Nigerians that he is strong, the president walked like a soldier in front of his media team who all laughed.

China says U.S. destroyer in South China Sea violated its security
Cayetano in fact said in a press conference on July 26: "What I've noticed about CSIS is they don't give you all the pictures". Ma said that while China will continue its military activities, those "in the Sea of Japan are still not that many".