European Stocks Trade Lower, Trend Followed by Asian Market

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European Stocks Trade Lower, Trend Followed by Asian Market
European Stocks Trade Lower, Trend Followed by Asian Market

European Stocks Trade Lower, Trend Followed by Asian Market

Earlier, European stocks fell for the third day amidst the speculation of the US employment data. The trend was later on followed by the Asian market wherein the losing streak continued for the second day. In the US indexes, there was slightly change. Whereas ThyssenKrupp AG declined after raising 882.3 million Euros, Sonova Holding AG (SOON) slipped 1.7 percent.

Losing streak continued in the indexes; whereas the benchmark Stoxx Europe 600 Index lost 0.2 percent at 8:50 a.m. in London, Standard & Poor’s 500 Index futures added less than 0.1 percent. The decline continued for the Stoxx 600 which fell 0.3 percent. The fall is attributed to decline in the Spanish manufacturing for the month of November.

Nonetheless, there is still not much scope for the MSCI Asia Pacific which excluding Japan fell 0.5 percent after a seven-day rally. There was slight increase in the Nikkei 225 Stock Average which rose 0.6 percent in Tokyo. Earlier yesterday, most of the Asian market including of Australia and Thailand were on downward movement.

Asian Market Continue to Slid Today

Following the downward trend in the European market, Asian market is slow today. In fact, it is a global occurrence today as not just Asia but the US as well declined to a great extent amidst the low expectations for the US employment data. Additionally, investors are waiting for US0 economic data this week which is going to determine the fate of US stimulus.

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The only exception in today’s slow trade in Asia is Japan where its Nikkei 225 added 0.6 percent to 15,749.66 on the yen’s weakness. According to observers, Yen is falling further and it may hit the record low soon. However, the country is not worried about the lowering prices as it is helping them increase their exports.

The bright export market of Japan is helping the stock prices of export-reliant companies that dominate the Japanese stock market. Market observers believe despite consistent falling of the Asian market, Japanese stocks have been able to remain stable. In today’s trading, the other exception was Thailand which gained 0.3 percent.

Thailand which has been hit a lot recently by the violent anti-government protests was able today to do better as the protests diminished. The country is preparing to mark the 86th birthday Thursday of its revered monarch and expected to rejuvenate its performance to great extent and recover the losses.

To contact the reporter of this story: Jonathan Millet at john@forexminute.com