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Tokyo stocks plunge into the Christmas money route



  Passers-by are reflected in a chart showing Nikkei stock's average move outside a brokerage in Tokyo on August 12, 2013. - Reuters pic
Passers-by are reflected in a graph showing Nikkei stock's average move outside a brokerage in Tokyo on August 12, 2013. – Reuters pic

TOKYO, December 25 ̵

1; Tokyo shares fell among the few Asian markets open at Christmas today A holiday hype for fears of the US economy and a government shutdown in Washington.

The Tokyo markets, which were closed yesterday due to a national holiday, collapsed today at the opening. The Nikkei closed at five percent – over 1,000 points.

It was the worst finish since April 2017, following a brutal, shortened, public holiday on Wall Street that saw US equities drop for a fourth consecutive session.

In Asia, many markets were closed for Christmas, including in Australia. Hong Kong and South Korea. The markets in the US and Europe are also closed for the holiday.

However, the downturn affected the open stock markets. China's benchmark Shanghai Composite Index fell more than two percent during the morning session, down 0.9 percent.

Markets have been churned by continued uncertainty in the United States. Treasury Secretary Stephen Mnuchin's intention was to hold talks with the six largest US banks, and then report on Twitter that the six CEOs had "sufficient liquidity." Available.

Weekend news also touched investors that US President Donald Trump had asked for the opportunity to fire US Federal Reserve Chairman Jerome Powell. The reports that Mnuchin had denied, according to Trump. Last week, the central bank hiked interest rates that infuriated Trump, who ignored traditional respect for the Fed's independence, calling it "crazy," "out of control," and a bigger economic threat than China.

The Dow Jones Industrial Average collapsed on Monday by almost three percent, the broad-based S & P 500 lost 2.7 percent, and the tech-rich Nasdaq Composite Index more than two percent. [19659005] The decline brought the S & P 500 to the brink of a "bear market," a 20 percent decline from its peak.

CNBC reported that Wall Street's losses on Christmas Eve were the worst, a vacation that was shortened meeting before today, when markets are closed.

Stephen Innes, head of APAC trading at OANDA, said Trump's spit with the Fed and Mnuchin's call to banks had "markets to take cover".

Investors do not trust the administration. Markets are determined by perceptions and it is absolutely bad, "he told AFP.

A stronger yen added to concerns about markets in Japan, he added.

"I can not tell you where the bottom is because there are several risks," said Makoto Sengoku, market analyst at Tokai Tokyo Research Institute.

"There is no indication that the sale is going on or big buyers are emerging," he told AFP.

Key Data at 0700 GMT

Tokyo – Nikkei DOWN down 5.0 percent at 19,155.74 (close)

Hong Kong – CLOSED

Shanghai – Composite: DOWN down 0.9 percent at 2,504 , 82 (close)

Euro / Dollar: from 1.1410 USD to 1.1410 USD

Dollar / Yen: 1010 USD from 110.18

Pound / Dollar: FLAT at US $ 1.2704

Oil – Crude Oil Brent: CLOSED

Oil – West Texas Intermediate: CLOSED

New York – Dow: DOWN 2.9 percent at 21,792.20 (close) [19659005] London – FTSE 100: up 0.5 percent to 6,685, 99 (end) – AFP


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