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Market Update : 
U.S. Indexes Drop 14%
Author: 123jump.com Staff
123jump.com
Last Update: 4:44 PM EDT June 30 2008


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Markets around the world decline in the first half of this year on rising inflation and U.S. housing market led global credit market crisis. There appears to be no end to the weakness in the credit market and lenders in U.S tighten loan standards and issue fewer loans. Dow and S&P 500 indexes fell 14% and Nasdaq declined 13.6% in the first half. Indexes in Shanghai lost 48%, in India dropped 34% and in Japan fell 11%. UK index dropped 14% and indexes in Germany, France and Spain fell.

 
In Tokyo Nikkei 225 Index closed lower 62.98 or 0.46% to 13,481.38, in Hong Kong Hang Seng index increased 59.66 or 0.27% closed to 22,102.01. In Australia ASX 200 index lower 21.70 or 0.41% to close 5,215.30. In Malaysia KL Composite index decreased 3.97 or 0.33% closed to 1,186.57.

In South Korea Kospi Index decreased 9.53 or 0.57% to close at 1,674.92, in Thailand SET index closed lower 7.14 or 0.92% to 768.59 and Indonesia JSE Index edged increased 16.99 or 0.73% to 2,349.10. Sensex index in India decreased 340.62 or 2.47% to 13,461.60.

Commodities, Metals, and Currencies

Crude oil increased $0.13 to close at $140.34 a barrel for a front month contract, natural gas increased 20 cents to $13.40 per mBtu, and gasoline futures increased 0.03 cents to close at 350.15 cents per gallon.

Gold decreased $3.00 in New York trading to close at $928.30 per ounce, silver closed down 20.00 cents to $17.51 per ounce, and copper for front month delivery increased 0.450 cent to $3.88 per pound.

Wheat futures decreased 53.250 cent in Chicago trading and closed at $8.58 per bushel. Sugar increased 40 cent to $13.14 per pound. Soybean future closed up 14.50 cents to $15.74 a bushel.

Dollar edged higher and traded near record low against euro to $1.5744 and fell against yen to 106.22.

Yields on U.S. bonds were unchanged to 3.97% with 10 years of maturities and fell to 4.52% with 30-year of maturities.
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