Thursday, December 17, 2009

The World Overnight

Serious stock market selling out of China and Hong Kong. The dollar stays strong.

China's Shanghai Composite index dropped 2.3% and the Hang Seng Index declined 1.2% in Hong Kong,

Japan's Nikkei 225 Average finished 0.1% lower at 10163.80, South Korea's Kospi fell 1%, New Zealand's NZX 50 slipped 0.3% and Taiwan's Taiex shed 0.1%. India's Sensex and Singapore's Straits Times Index ended flat.

Early futures trading indicates a down opening for the Dow. The Dow Jones Industrial Average futures were down 45 points in screen trades.

In foreign-exchange markets, the euro fell as low as $1.4368 on across the board dollar strength.

The U.S. dollar was at 89.71 yen after rising as high as 90.23 yen earlier in the day, from 89.78 yen Wednesday.

Spot gold was at $1,127.70 a troy ounce, down $9.80 from the New York close. January Nymex crude oil futures gave up 31 cents at $72.35 per barrel on Globex.

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