Monday, 10 August 2015

Asian Market update By Marketmagnify

While mainland stocks were unshaken by less-than-stellar economic indicators over the weekend, the rest of Asian indices slid early Monday tracking offshore losses and amid worries surrounding China.

Wall Street ended lower on Friday on the back of declines in oil prices and upbeat job growth data that was seen as putting the Federal Reserve on course for a potential rate hike in September.

The Dow Jones Industrial Average shed 0.27 percent to chalk up its seven straight session of declines, the worst losing streak since the summer of 2011.

The S&P 500 and the Nasdaq Composite eased 0.29 and 0.26 percent, respectively.

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