Straits Times index down nearly 3 percent

The New York markets were mixed by midday on Friday. The Dow Jones Industrial Average was down 0.17 percent to 13,314.73, while the Nasdaq Composite was 0.25 percent higher to 2,580.55 and the S&P 500 had added 0.02 percent to 1,493.13. There were gains in the retail sector and among computer makers. The oil sector was also higher.

Asia-Pacific equities markets declined on the session. The Straits Times index saw significant declines, dropping 2.89 percent to 3,499.21. There were also big losses in Australia, where the Sydney Ordinaries dropped 1.9 percent to 6,216.6 and the S&P/ASX 200 was down nearly 2 percent to 6,184.2. Banks, miners, and the oil and gas sector were all lower on the session. In Hong Kong, the Hang Seng index was 0.45 percent lower to 21,705.56, while the Sensex dropped 0.48 percent to 14,431.06 in India.

In Tokyo, the Nikkei 225 was 1.2 percent lower to 17,849.28, while the Topix index fell 1.4 percent to 1,741.08. With the yen stronger again exporters - including carmakers, construction equipment manufacturers, and the electronics sector - all declined . Real estate was lower as well. The retail sector as a whole was up slightly, but many individual retailers saw declines on the session.

The European markets declined as well. The FTSE Eurofirst 300 dropped 0.41 percent to 1,580.46. The Paris CAC-40 fell 0.2 percent to 5,941.67, while the IBEX was 0.5 percent lower to 14,681.7 in Madrid and the Dax dropped 0.75 percent to 7,801.23 in Frankfurt. Utilities were higher on the day, but banks and insurers were both lower, and there were declines in the steel sector.

In London, the FTSE 100 was 0.48 percent lower to 6,527.6, while the FTSE 250 dropped 1.26 percent to 11,391.9. Banks were lower on a profits warning that was blamed on high interest rates, and mortgage lenders followed. Internet gaming also took losses. The telecommunications sector was higher as demand for shares was strong, while other gains came in the transport and pharmaceuticals sectors.

Story link: Straits Times index down nearly 3 percent