Forbes – Share prices are expected to open lower as market sentiment is likely to be dampened by a retreat on Wall Street and other markets around the world, dealerssaid.
On Wall Street overnight, the Nasdaq Composite Index fell 21.03 points to 2,172.86, its weakest close in 6-1/2 months. The Dow Jones Industrial Average fell 18.73 points to11,125.33, its lowest level in a month, while the S&P 500 Index fell 4.97 points to 1,262.06.
In London, the FTSE 100 was down 124.7 at 5,532.7, its lowest level since December.
In Hong Kong, the Hang Seng Index closed down 507.84 points or 3.11 pct at 15,805.52.
Here yesterday, the blue-chip Nikkei 225 Stock Average closed down 297.58 points or 1.8 pct at 15,857.87, while the broader TOPIX index of all first-section issues closeddown 22.71 points or 1.4 pct at 1,615.86.
Dealers said hedge funds are selling to take profits as they enter the season for reporting earnings.
Some funds are putting their money into the haven of the debt market, they said.
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