Japanese stocks
slumped for a second day after the yen strengthened as investors sought
haven assets amid a continuing selloff in crude oil.
The Topix slipped 1.2
percent to 1,363.46 at 9:01 a.m. in Tokyo, after closing yesterday at a
one-month low. All of the 33 Topix industry groups retreated. The Nikkei
225 decreased 1.4 percent to 16,864.28. The yen traded at 117.87 per
dollar after advancing 0.8 percent yesterday. Stocks also fell in the
U.S. and Europe.
Futures on the
Standard & Poors 500 Index added 0.2 percent today. The underlying
U.S. equity measure dropped 0.6 percent yesterday to its fifth loss in
six sessions. The Stoxx Europe 600 Index slid 2.2 percent to the lowest
level since Oct. 20. The Federal Reserve starts a meeting today on
monetary policy and the timeline for raising U.S. benchmark borrowing
costs.
Benchmark oil prices
capped a fifth day of declines, slipping to five-year lows after the
United Arab Emirates said OPEC wont cut output.
The Bank of Russia
raised its key rate to 17 percent from 10.5 percent as the slump in
crude pushes the country, the worlds biggest energy exporter, toward a
recession.
Source : Bloomberg
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