Korean shares end lower on foreign selling amid tensions over N. Korea

Patrice Gainsbourg
Agosto 13, 2017

Stock markets around the world were under pressure on Wednesday amid increased tensions between the US and North Korea following comments from President Donald Trump, and big entertainment stocks were among the many decliners. Fear of military conflict helped to knock £40 billion off the value of London's stocks in three days, analysts said.

The threat followed U.S. President Donald Trump's warning on Tuesday that any threats by Pyongyang would be "met with fire and fury like the world has never seen".

The last time the S&P 500 fell over 1 percent was on May. 17.

The recovery fit a recent pattern of investors using dips to put more money in stocks. The Russell 2000 index of smaller-company stocks gave up 19 points, or 1.4 percent, to 1,377.

Utilities closed up 0.3 per cent, while the materials sector was the S&P's biggest loser with a 0.9-per cent drop.

Meanwhile, markets in Japan, South Korea and other Asian countries were also lower, and so-called futures signaled that USA markets would also open down.

South Korea's fell 1.7 percent to its lowest since May 24, but its losses for the week are a relatively modest 3.2 percent.

Dow Jones Industrial Average futures were down 0.23%, S&P 500 futures fell 0.4%, and Nasdaq futures slid 0.66%.

Macy's shares closed down 10.2 percent and Kohl's fell nearly 6 percent as the companies continued to report a drop in quarterly same-store sales, stoking concerns that their turnarounds may still be a long way off.

Tech companies lead broad slide in USA stocks; oil rises
Hong Kong slumped 2.04 per cent, Shanghai slipped 1.63 per cent, Korea shed 1.69 per cent, Jakarta fell 1.03 per cent. Benchmark U.S. crude fell 83 cents, or 1.7 percent, to $48.73 a barrel on the New York Mercantile Exchange.

Emerging market stocks lost 1.28 percent.

"This inflation data for the month was not good".

Inflation has risen 1.7 percent over the past 12 months, suggesting that inflation pressures remain well under control.

Bond prices, which move inversely to yields, closed higher. Wall Street was expecting more inflation.

The 30-year bond last /32 in price to yield 2.7933 percent, from 2.794 percent late on Thursday.

Investors on Thursday scampered to safe-haven assets such as gold and the Swiss franc, helping the precious metal hit a more two-month high.

Data showed US producer prices unexpectedly fell in July, recording their biggest drop in almost a year, while another set showed the number of Americans filing for unemployment benefits unexpectedly rose last week. It is now on track for its biggest weekly drop since the week before the November 8 USA presidential election.

USA crude fell 0.41 percent to $48.39 per barrel and Brent was last at $51.68, down 0.42 percent on the day.

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