Asian markets were trading mixed. China’s Shanghai Composite was flat at 2,050.71.
Hong Kong’s Hang Seng was down 0.11% or 20.83 points at 19,532.08.
Japan’s Nikkei was down 0.84% or 75.76 points at 8,908.02.
Singapore’s Straits Times was up 0.11% or 3.20 points at 3,015.02.
South Korea’s Seoul Composite was flat at 1,905.49.
Taiwan’s Taiwan Weighted gained 0.31% or 22.75 points at 7,394.19.
The US accelerate their losses in the final minutes of trading to close near session lows, with the S&P 500 closing just below the key 1,400 level, a day ahead of the Fed’s Jackson Hole meeting and following reports that Spain may delay its decision on seeking a bailout. The CBOE volatility index jumped to close near 18.
Dow Jones Industrial Average fell 0.81% or 106.77 points at 13000.71. Nasdaq Composite slipped 1.05% or 32.48 points at 3048.71. Standard & Poor’s 500 shed 0.78% or 11.01 points at 1399.48.
On economic data front, jobless claims were unchanged last week holding at a seasonally adjusted 374,000. Consumer spending gained 0.4% in July, climbing by the most in five months. Meanwhile, income increased 0.3%.
In key data to watch out for in US today, factory orders are expected may grow by 2%. Also global market watch out for consumer sentiment data.
In the currency space, the euro stabilises after slipping to 1.24 ahead of the Jackson Hole meet.
In commodities, Brent crude prices holding above USD 112 levels supported by supply concerns and geopolitical. Meanwhile, Nymex crude eases further to sub USD 95 levels.
Indian ADRs ended lower on Thursday. In the IT space, Patni was down 2.95% at USD 18.11, Infosys was down 0.8% at USD 42.41 and Wipro was down 0.62% at USD 7.98.
In the Telecom space, MTNL was down 9.27% at USD 1.37 and Tata Communication was up 0.61% at USD 8.2. In the Banking space, ICICI Bank was down 1.45% at USD 32.66 and HDFC Bank was down 0.09% at USD 34.08.
In the other space, Dr Reddys was down 1.35% at USD 29.89, Tata Motors was down 0.52% at USD 20.99 and Sterlite was down 0.14% at USD 7.25.
Asian markets were trading mixed. Hong Kong’s Hang Seng rose 0.62% or 123.25 points at 20,086.20.
Japan’s Nikkei advanced 0.64% or 58.17 points at 9,150.93.
Singapore’s Straits Times was up 0.14% or 4.37 points at 3,067.26.
South Korea’s Seoul Composite shed 0.51% or 9.91 points at 1,948.
China’s Shanghai Composite was down 0.14% or 3.01 points at 2,109.19.
Taiwan’s Taiwan Weighted was flat at 7,495.14.
The US markets have their best session in nearly two weeks as German Chancellor Angela Merkel reiterates her support for the ECB’s plans to fight the euro zone crisis and as the Dow component Cisco systems hiked its dividend 75%. The CBOE volatility index slipped to just above 14, a five-year low.
Dow Jones Industrial Average gained 0.65% or 85.33 points at 13250.11. Nasdaq Composite added 1.01% or 31.46 points at 3062.39. Standard & Poor’s 500 rose 0.71% or 9.98 points at 1415.51.
In economic data, weekly jobless claims rose last week to a seasonally adjusted 366,000, in line with expectations. Factory activity in the mid-atlantic area contracted for the fourth-straight month in August. And housing starts unexpectedly fell in July to a seasonally adjusted annual rate of 746,000.
In the currency space, the euro gains versus the dollar, above 1.23 as Chancellor Angela Merkel reiterates her support for the ECB’s plans to fight the euro zone crisis.
In commodities, Brent crude prices at 3 month peak following weakness in dollar and comments from German Chancellor Angela Merkel.
In the precious metals space, gold prices gain on further stimulus hopes.
Indian ADRs ended mixed on Thursday. In the IT space, Infosys was up 1.69% at USD 42.08, Patni was down 0.11% at USD 18.38 and Wipro was down 0.37% at USD 8.02.
In the Telecom space, Tata Communication was up 1.68% at USD 8.47 and MTNL was up 0.33% at USD 1.21. In the Banking space, HDFC Bank was up 0.74% at USD 35.27 and ICICI Bank was down 0.89% at USD 34.44.
In the other space, Tata Motors was up 1.93% at USD 21.15, Dr Reddys was up 1.43% at USD 29.73 and Sterlite was down 0.88% at USD 7.88.
* Disclaimer: These recommendations are based on the theory of technical analysis and outlook of the market performance. Readers those who buy and sell securities based on the above information in this column are solely responsible for their actions. The author won't be liable or responsible for any sort of financial and legal loses suffered by the traders.