{"id":56619,"date":"2013-06-21T07:02:15","date_gmt":"2013-06-21T07:02:15","guid":{"rendered":"https:\/\/armbanks.am\/2013\/06\/21\/238728\/"},"modified":"2024-12-15T13:05:27","modified_gmt":"2024-12-15T13:05:27","slug":"asian-stocks-drop-after-u-s-selloff-but-off-lows-marketwatch","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2013\/06\/21\/56619\/","title":{"rendered":"Asian stocks drop after U.S. selloff, but off lows: Marketwatch"},"content":{"rendered":"<p><strong>YEREVAN, June 21. \/ARKA\/.<\/strong> Asian stocks fell Friday after the Federal Reserve\u2019s plans to gradually wind down its bond purchases led to heavy losses on Wall Street, but Chinese shares recovered from their sharp initial declines as Shanghai interbank rates reportedly came off their highs.<\/p>\n<p>The Shanghai Composite CN:SHCOMP -0.07%\u00a0 traded 0.5% lower, and Hong Kong\u2019s Hang Seng Index HK:HSI -0.07%\u00a0 was off 1% by mid-morning trade in the respective markets.<br \/>\nBoth benchmarks had dropped more than 2% in early trading, but pared those losses on reports of a sharp fall in the Shanghai interbank money-market rates from the record highs they touched the previous day.<\/p>\n<p>\u201cWith spiking rates likely an intentional move by the Chinese government, it\u2019s probably not a sign of an emerging credit crisis, but rather responsible economic management. The main concern with China continues to be slowing economic growth,\u201d said Rivkin Securities global analyst Tim Radford.<\/p>\n<p>Elsewhere in the region, Japan\u2019s Nikkei Stock Average JP:NIK +1.66% fell 0.9%, Australia\u2019s S&amp;P\/ASX 200 AU:XJO -0.41%\u00a0 gave up 0.3%, and South Korea\u2019s Kospi KR:SEU -1.49%\u00a0 dropped 1.6%, with each of them also coming off the day\u2019s lows.<\/p>\n<p>The drop in regional stocks came as the S&amp;P 500 SPX -2.50%\u00a0 suffered its worst drop since November 2011 on Thursday, adding to late Wednesday losses after the Fed signaled it may soon downsize bond purchases under its quantitative-easing program.<\/p>\n<p>Commodities also took a major hit, with gold futures sliding more than 6%, while U.S. benchmark crude-oil prices fell nearly 3%. \u20130&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asian stocks fell Friday after the Federal Reserve\u2019s plans to gradually wind down its bond purchases led to heavy losses on Wall Street, but Chinese shares recovered from their sharp initial declines as Shanghai interbank rates reportedly came off their highs<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12147,9216],"tags":[13438,13439,12273,335],"class_list":{"0":"post-56619","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-bonds-am-en-en","7":"category-news","8":"tag-indexes","9":"tag-low","10":"tag-stock","11":"tag-335"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/56619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=56619"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/56619\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=56619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=56619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=56619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}