Stock Markets

NYSE stops trading in Satyam stock

NYSE stops trading in Satyam stockThe New York Stock Exchange has stopped dealing with Satyam Computer Services after revelation of large scale financial misdoing in its business conduct. Shares of beleaguered Satyam Computer Services were not traded at NYSE as per the report from stock exchange.

The regulation officer at exchange said, "NYSE regulation is currently evaluating the news relating to Satyam and will continue to closely monitor further developments. Trading was halted prior to the opening of the market. The security will remain halted until further notice."

Australian stocks follow Wall Street down

Australian stocks follow Wall Street downSydney - The steep fall on Wall Street proved a strong gravitational pull on Australian stocks Thursday with the market losing most of recent gains.

The ASX 200 gave up 85 points, or 2.3 per cent, to 3,694.

"We had a good run on commodities over the last few days and we are reversing some of those gains," IG Markets dealer Oliver Stevens said.

Taiwan stocks fall nearly 5 per cent due to worsened global slump

Taiwan stocks fall nearly 5 per cent due to worsened global slumpTaipei - Taiwan stocks plunged almost five per cent in mid-session Thursday due to the worsening global recession and a decline in the island nation's December exports.

By 12:19 pm, the TAIEX index had fallen 234.42 points, or 4.89 per cent, to 4,555.42.

Analysts blamed the fall on the continued global recession, a drop in oil prices, the overnight fall of US stocks and a record 41.9 per cent slump in Taiwan's December exports.

Nifty May Face Resistance At 3,050 Level, Says P.K. Agarwal

Nifty May Face Resistance At 3,050 Level, Says P.K. AgarwalThe Sensex lost more than 700 points on Wednesday (Jan 07) following some startling revelations made by B. Ramalinga Raju, the Chairman of Satyam Computer Services Ltd.

It came as disgusting news to market that Raju quitted after confession of fraud in company’s books.

All sectorial indices hammered badly and marked their closures on a negative note. Realty, oil & gas and IT were among the major losers, which fell 16.95%, 9.35% and 9.32% respectively.

Nikkei snaps winning streak on renewed economic worry

Nikkei snaps winning streak on renewed economic worryTokyo  - Japan's benchmark Nikkei index snapped a seven-day winning streak on renewed worries over the US economy Thursday.

The Nikkei 225 Stock Average fell 212.5 points, or 2.3 per cent, to 9,026.74, as investor concerns grew over US jobmarket data.

The broader Topix index of all First Section issues was also down 15.45 points, or 1.74 per cent, to 872.8.

The yen's advance against the US dollar also led investors to sell mainly export-oriented issues as a stronger yen affects Japanese companies' earnings.

US stocks slide amid job cuts, bleak corporate outlook

US stocks slide amid job cuts, bleak corporate outlookNew York  - US stocks fell Wednesday amid concerns over massive job losses and profit warnings from Intel and Time Warner.

Computer chip giant Intel warned of a fourth-quarter sales plunge of more than 23 per cent and said it expected to record an investment loss of about 1 billion dollars.

The world's largest chipmaker originally forecast between 10.1 billion dollars and 10.9 billion dollars in revenue, but now expects revenues in the crucial holiday period to be just 8.2 billion dollars, down from 10.7 billion dollars a year earlier.

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