• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

Stocks down on fresh lockdown worries, banking sell-off as dollar rises

5 years ago
in Banking & Finance, Business, highlights, Home, latest News, Markets
2 min read
0 0
0
36
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Hong Kong shares of HSBC 0005.HK and Standard Chartered 2888.HK fell more than 2% each, as global banking stocks remained under intense pressure on reports about financial institutions allegedly moving illicit funds.

British lenders HSBC and StanChart were among global lenders named as having transferred more than $2 trillion in suspect funds over nearly two decades.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.5%.

Australia’s S&P/ASX 200 .AXJO dropped 0.7% pressured by miners and energy stocks, while China’s blue-chip index .CSI300 shed 0.1% and Hong Kong’s Hang Seng index .HSI was down 0.5%. Japanese markets were closed for a public holiday.

After-hours trade pointed to further selling pressure on Wall Street on Tuesday, with S&P 500 futures ESc1 down 0.2% in early Asia and Nasdaq 100 futures NQc1 off 0.4%.

“We can’t see any positive news on the horizon in the near-term for the markets to rebound,” said Steven Leung, executive director for institutional sales at Hong Kong brokerage UOB Kay Hian.

Overnight on Wall Street, the Dow Jones Industrial Average .DJI fell 1.84%, the S&P 500 .SPX lost 1.16%, and the Nasdaq Composite .IXIC dropped 0.13%.

RelatedPosts

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

U.S. stocks have tumbled over the past three weeks as investors dumped heavyweight technology-related shares following a stunning rally that lifted the S&P 500 and the Nasdaq to new highs.

JPMorgan Chase & Co JPM.N and Bank of New York Mellon Corp BK.N fell 3.1% and 4.0%, respectively, on Monday.

“The question is whether or not the residue of that impacts the performance of regional financials,” said CommSec market analyst Tom Piotrowski in Sydney.

The coronavirus also remains front and centre of investor concerns.

New pandemic measures in the UK set off declines in airline, hotel and cruise companies in both European and U.S. markets, spurring fears about further restrictions.

The Telegraph newspaper reported Prime Minister Boris Johnson will encourage Britons on Tuesday to go back to working from home. Any fresh coronavirus restrictions would threaten a nascent recovery and further pressure equity markets.

Concerns are also growing about a delay in stimulus measures after the U.S. Congress has remained deadlocked for weeks over the size and shape of another coronavirus-response bill, on top of the roughly $3 trillion already enacted into law.

The death of U.S. Supreme Court Justice Ruth Bader Ginsburg appeared to make the passage of another stimulus package in Congress less likely before the Nov. 3 presidential election, sparking large declines in the healthcare sector.

U.S. President Donald Trump said he would put forward his nominee on Friday or Saturday and called upon the Senate, controlled by his fellow Republicans, to vote on confirmation ahead of the election.

The dollar held on to sharp gains made on Tuesday, with moves in Asia modest owing to a public holiday in Japan. The euro EUR= was steady at $1.1764 and the yen, which backed off a six-month high as the dollar gained, crept higher to 104.56 per dollar.

The Australian dollar AUD=D3 slipped a fraction to $0.7218 after a senior central banker flagged the prospect of policy options including currency market intervention and negative interest rates to support the economy.

Gold fell against the rising dollar, and last traded at $1,908.76 per ounce.

In oil markets, U.S. crude CLc1 rose 0.66% to $39.57 per barrel while Brent LCOc1 gained 0.31% to $41.95.

No Result
View All Result

Highlights

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

CAF Establishes New Infrastructure Department to Enhance Stadium Development Across Africa

Bibiani Gold Stars Set to Begin GPL Title Defence Against Bechem United as Fixtures for 2025/26 Season Are Released

Gov’t Increases Producer Price of Cocoa to GHS 51,660 per Tonne for 2025/2026 Season

Trending

Business

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

August 4, 2025

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025...

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

August 4, 2025

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

August 4, 2025

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

August 4, 2025

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

August 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.