Asian markets on Thursday ended mixed on worries about a slowdown in the global economy. Many of the regional markets reversed the gains they made earlier after a positive finish on Wall Street Wednesday. So, Japan's Nikkei-225 index rose 0.2%, as Japan intervened in the foreign-exchange market to stem the yen's recent rise. And the Bank of Japan announced additional monetary, while keeping its policy interest-rate target range unchanged at 0 to 0.1%. China's Shanghai Composite index also rose 0.2%. But Hong Kong's Hang Seng index slid 0.5%; South Korea's Kospi plummeted 2.3%; and Singapore's Straits Times index fell 0.8%.The European markets fell. Key benchmark indices in the UK, France and Germany were down by between 0.1% and 0.8% in intra-day trade, today. At its review meeting on Thursday, the Bank of England is likely to leave its main interest rate at a record-low 0.5%, amid weak economic growth in Britain, and lingering debt strains in the neighbouring euro zone. The European Central Bank is also meeting today, and is expected to keep its main interest rate at 1.5%, with inflation falling, business confidence down and the markets nervous about the debt contagion in the eurozone.
News On AIR | August 4, 2011 6:03 PM
Asian markets end mixed amid worries of global economy slowdown