SINGAPORE Newsecoinfo Reported- Asian stocks slid amid signs of slowing U.S. economic recovery, and this pushed global stocks and oil prices lower than the previous day.
As quoted by Reuters on Tuesday (05/17/2011), the Nikkei average (N225) slumped more than three percent during the last three sessions, and is in line with the weakening of other risky assets. Another factor is that investors expected the U.S. Federal Reserve's stimulus program that could be completed at the end of June.
Sendoro Nikkei fell 0.44 percent, while the Topix (TOPX) fell 0.64 percent. As for Indekx MSCL's Asia-Pacific stocks outside Japan (MIAPJ0000PUS) fell 0.21 percent, and it extended the decline from two weeks ago. But there are several markets, including in Singapore closed for a holiday.
The decline in Asian stocks following Wall Street is, the Hang Seng Index fell 34.46 points (0.15 percent) to the level 22926.17. Seoul index fell 6.38 points (0.30 percent) to a level of 2097.80. Straits Times Index fell 27.20 points (0.86 percent) to a level of 3136.48.
However, this decrease is not the result of the arrest of the IMF boss Dominique Strauss-Kahn over alleged rape trial. Indeed, the negative sentiment in political circles of France and the IMF, but has no effect at all on the Asian market.
Meanwhile, Wall Street apparently did not hold strong negative market sentiment, the results led the Nasdaq stock exchange the United States into the red zone.
This weakening in hatched by Nasdaq which slipped quite sharply by 46.16 points (1.63 percent) to a level of 2782.31, while the Dow Jones industrial average closed down 47.38 points (0.38 percent) to the level 12548.37 and the broader Standard & Poor's 500 index also fell 8.30 points (0.62 percent) to as low as 1329.47 In trading on Monday (Newsecoinfo)
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