16 Jan 2015
Asian equities sharply lower following SNB decision – MP
FXStreet (Barcelona) - Stuart McPhee of MarketPulse shares that the SNB decision to remove its cap on the EUR/CHF floor has Asian indices to drop significantly.
Key Quotes
“Asian stocks were sharply lower Friday after a surprise move by the Swiss National Bank to abandon its efforts to keep its currency artificially cheap shocked the market.”
“Japan’s Nikkei 225 dropped 2.8 percent to 16,628.06 while South Korea’s Kospi fell 1.2 percent to 1,891.04. Hong Kong’s Hang Seng index was down 0.6 percent to 24,197.01. Australia’s S&P/ASX 200 declined 0.8 percent to 5,289.80. Stocks in Singapore, New Zealand and Taiwan also fell.”
Key Quotes
“Asian stocks were sharply lower Friday after a surprise move by the Swiss National Bank to abandon its efforts to keep its currency artificially cheap shocked the market.”
“Japan’s Nikkei 225 dropped 2.8 percent to 16,628.06 while South Korea’s Kospi fell 1.2 percent to 1,891.04. Hong Kong’s Hang Seng index was down 0.6 percent to 24,197.01. Australia’s S&P/ASX 200 declined 0.8 percent to 5,289.80. Stocks in Singapore, New Zealand and Taiwan also fell.”