European shares
followed Asian stocks lower on Tuesday as speculation intensified that
the U.S. Federal Reserve could raise interest rates sooner than many
expect, though this failed to give the dollar a significant boost.
Concern
the Fed could hike rates for the first time since 2006 as soon as
September -- triggered by forecast-beating jobs data last Friday --
pushed U.S. stocks lower on Monday before spreading across the globe.
The pan-European FTSEurofirst 300 index fell for the sixth consecutive day to hit a one-month low. It was last down 0.3 percent in early deals. HSBC (HSBA.L) gained 0.2 percent, however, after announcing a plan to cut up to 50,000 jobs and take an ax to its investment bank.
"We're agnostic as to whether the rate rise will be September or November ... the balance of probabilities suggests it might be September," Coutts global equity strategist James Butterfill said.
Earlier, Tokyo's Nikkei index .N225 suffered its biggest fall in nearly a month, down 1.8 percent on U.S. rate worries and uncertainty over whether Greece can clinch a deal with its creditors to avoid default.
MSCI's main index of Asia-Pacific shares outside Japan .MIAPJ0000PUS shed 0.9 percent to a fresh 10-week low.
Chinese shares eased after soft inflation data suggested the economy was still struggling, even through Beijing is expected to add more policy stimulus.
The CSI300 index .CSI300 of the largest listed companies in Shanghai and Shenzhen fell 0.7 percent.
MSCI will soon announce whether to include China 'A' shares in its Emerging Markets Index, a decision the index publisher says would draw $400 billion to China stocks over time.
The fall on Wall Street saw the Dow Jones Industrial average .DJI fall 0.5 percent and slip into a loss for 2015.
The dollar held steady against a basket of currencies .DXY, still on the defensive after reports on Monday that President Barack Obama had expressed concern about the greenback's strength.
Falls in U.S. Treasury yields US2YT=RR to levels touched before Friday's jobs data also eroded support for the dollar.
The euro EUR= was last down 0.1 percent at $1.1280 while the yen JPY= was flat at 124.46 per dollar.
The pan-European FTSEurofirst 300 index fell for the sixth consecutive day to hit a one-month low. It was last down 0.3 percent in early deals. HSBC (HSBA.L) gained 0.2 percent, however, after announcing a plan to cut up to 50,000 jobs and take an ax to its investment bank.
"We're agnostic as to whether the rate rise will be September or November ... the balance of probabilities suggests it might be September," Coutts global equity strategist James Butterfill said.
Earlier, Tokyo's Nikkei index .N225 suffered its biggest fall in nearly a month, down 1.8 percent on U.S. rate worries and uncertainty over whether Greece can clinch a deal with its creditors to avoid default.
Chinese shares eased after soft inflation data suggested the economy was still struggling, even through Beijing is expected to add more policy stimulus.
The CSI300 index .CSI300 of the largest listed companies in Shanghai and Shenzhen fell 0.7 percent.
MSCI will soon announce whether to include China 'A' shares in its Emerging Markets Index, a decision the index publisher says would draw $400 billion to China stocks over time.
The fall on Wall Street saw the Dow Jones Industrial average .DJI fall 0.5 percent and slip into a loss for 2015.
The dollar held steady against a basket of currencies .DXY, still on the defensive after reports on Monday that President Barack Obama had expressed concern about the greenback's strength.
Falls in U.S. Treasury yields US2YT=RR to levels touched before Friday's jobs data also eroded support for the dollar.
The euro EUR= was last down 0.1 percent at $1.1280 while the yen JPY= was flat at 124.46 per dollar.
No comments:
Post a Comment