Articles


  • Asian stocks lower on borrowing fears in Europe



    Asian stocks were mostly lower on Thursday after a credit ratings agency warning that U.S. banks could be hit hard if Europe’s debt crisis spreads beyond financially troubled countries like Greece.

    Oil prices fell below $102 per barrel, while the dollar rose against the yen and the euro.

    Japan’s Nikkei 225 index lost 0.3 percent to 8,436.49 while Hong Kong’s Hang Seng dropped 1.2 percent to 18,725.32. South Korea’s Kospi was marginally higher at 1,858.26.

    Mainland China’s benchmark Shanghai Composite Index lost 0.2 percent at 2,459.52. Benchmarks in Singapore and Taiwan also fell, while Australia’s S&P ASX 200 edged up 0.2 percent to 4,255.10.

    Asian markets felt the pressure as fears in Europe heightened following a rise in the interest rate _ or yield _ on 10-year Italian government bonds to near 7 percent. That’s the level that eventually forced Greece, Ireland and Portugal to seek bailouts.

    That was followed by a warning from Fitch Ratings, one of the big three credit rating agencies, that U.S. banks could be “greatly affected” if Europe’s debt crisis spreads beyond the affected countries.

    The developments on Wednesday drove up fears about the global financial economy.


    Read full article
  • Rabindra Kayastha

    Authorized Person for MEX NEPAL
    Mob: +977 9856030634

  • Pawan Dhakal

    Biratnagar Branch Manager
    Mob: +977 9852033934

  • Our Clearing Member

    Himalayan Commodity Brokers
  • Our Banking Partners

    Laxmi Bank
  • Bank of Kathmandu
  • Nepal Investment Bank Limited
  • Century Commercial Bank Limited