1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

Stocks turmoil: Japan on brink of bear market as oil falls through $28 - live updates

Discussion in 'Market News' started by Lily, Jan 18, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    All the latest economic and financial news, as world markets continue to gyrate amid fears over China’s economy

    8.17am GMT

    Japan wasn’t the only Asia-Pacific market to suffer the Monday blues.

    Hong Kong’s Hang Seng index fell by 1.1%, hitting a three-year low, as fears over China’s economy hit confidence again.

    8.08am GMT

    Japan’s stock market is on the brink of a new bear market, after being hit by the global market turmoil.

    Nikkei ends down 1.1% at 16955.57, closes below 17,000 for 1st time since Sept. pic.twitter.com/TnguP54uJS

    7.52am GMT

    Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

    After the worst start to a New Year ever, world markets are facing another week of turbulence.

    Related: Rouhani hails 'turning point' as Iran embraces post-sanctions era

    Regarding China, we don’t see the cataclysmic 2008-style ‘credit crunch’ forming that some market participants do, but that doesn’t mean that we are not concerned.

    There are significant risks. China now accounts for approximately 17% of global GDP; up from 10% in 2005. Any material slowdown in the second largest economy in the world would have significant ramifications for the rest of the globe. China is attempting to make the transition from a manufacturing-led economy to a service-led economy – a transition that took the UK generations – in a decade or so. That process is not going to be without difficulty, and the Chinese authorities are learning as they go. Mistakes will happen.

    Continue reading...

Share This Page