In yesterday’s trading shares of Facebook declined 1.97% and closed at 50.23. The company’ shares opened at 50.14 and at some time in the trade even reached to a 51.60 high. The lowest trading point was 49.80; however, finally closed at 50.23. Similarly, Apple Inc. fell 1.2% to close at $476.75. Groupon Inc. lost 3.7% to close at $11.21 and Yelp Inc. fell 2.8% to close at $66.18.
According to market analysts a lot of companies had a bad trading day on Monday, particularly, technology stocks joined a broad market retreat as investors reacted to a possible government shutdown. Whereas the Nasdaq Composite Index (RIXF) declined 0.3% to close at 3,771, the Dow Jones Industrial Average (DJI) fell 128 points as the budget impasse continued.
Asian Stock Market Doing Better Today
On Tuesday’s trading, Asian stocks rose marginally. Led by Japanese shares, Australian and New Zealand indexes are faring better today. Japanese Prime Minister Shinzo Abe announced that the nation will increase its sales tax as planned. Rise in Japanese stocks is attributed to a business survey that shows that the manufacturing sector is doing better. The Nikkei 225 in Tokyo advanced 0.5% to 19,455.06.
At 1 1:01pm JST, Nikkei is trading at 14517.98 +60.78 (0.42% (. The confidence in Japanese stocks is boosted by the latest quarterly “tankan” survey which showed a sharp improvement from the prior period. The survey tells that large manufacturers are doing better than expected on a reading of positive 12, up from 4 in the July survey.
On a better trading day today, Singapore’s Straits Time Index gained 0.5 percent. The upward movement was also seen in Taiwan’s Taiex index and New Zealand’s NZX 50 Index as both rose 0.2 percent.
After a higher opening, South Korea’s Kospi fell marginally to 1,996.36. An upward movement has been seen in the indexes in several other Asian stock markets. Whereas Australia’s S&P/ASX 200 gained less than 0.1 percent to 5,221.90, benchmarks in Singapore, Taiwan, Indonesia and New Zealand increased marginally.
Today’s performance of Aussie and NZ shares is strikingly positive; in yesterday’s trading,
Australian shares dropped 1.7% from five-year highs. This was quite significant and unexpected as the market was doing better for the entire last week. This was also the biggest one-day drop since early August. The S&P/ASX 200 index lost 88.2 points to 5,218.9, but rose 8.7% for the third quarter.
There is no trading in mainland China and Hong Kong which are closed for public holidays.
To contact the reporter of this story: Jonathan Millet at email@example.com