Stocks plunge, dollar slides as Fed's emergency cut spooks investors

MG News | March 16, 2020 at 01:40 PM GMT+05:00

0:00

March 16, 2020: Asian stock markets and the dollar were roiled on Monday (March 16) after the U.S. Federal Reserve slashed interest rates in an emergency move and its major peers offered cheap U.S. dollars to break a logjam in global lending markets.

The Fed's rate cut combined with the promise of more bond buying pushed U.S. 10-year Treasury yields down sharply to 0.66% , from 0.95% late on Friday (March 13).

Japan's benchmark Nikkei 225 opened up 0.89 percent at 17,586.08, while the broader Topix gained 0.53 percent at 1,268.39 points.

Hong Kong stock market opened low with the benchmark Hang Seng Index down 2.98 percent at 23317.81 points.

In South Korea, shares fluctuated with the Korea Composite Stock Price Index (KOSPI) opened up at 20.65 points at 1.17 percent, but was down 3.47 points at 0.20 percent by 0008GMT.

Reuters

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Name	Price/Vol	%Chg/NChg
KSE100	157,189.86 142.34M	0.65% 1012.05
ALLSHR	96,255.42 597.26M	0.65% 625.04
KSE30	47,934.83 113.15M	0.54% 256.36
KMI30	231,457.00 102.18M	0.77% 1774.78
KMIALLSHR	64,754.56 258.47M	0.60% 387.79
BKTi	42,290.32 66.82M	0.88% 367.52
OGTi	31,667.36 8.01M	-0.22% -68.43

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	117,695.00	118,295.00 116,115.00	1870.00 1.61%
BRENT CRUDE	67.73	68.01 67.50	-0.22 -0.32%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	93.50	93.50 93.50	0.15 0.16%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	63.45	63.82 63.24	-0.60 -0.94%
SUGAR #11 WORLD	16.23	16.59 16.23	-0.33 -1.99%