A trader works on the Russian Trading System (RTS) stock exchange, Moscow.
Photo: Grigoriy Sobchenko
|
 |
The Slump Goes On
The slump that began on the stock market of Russia yesterday has continued today. The blue chips lost 3 percent on average on MICEX in the first minutes of trading, and RTS sank below 1900 exactly in a minute after the startup, having dropped more than 1 percent to begin with. LUKOIL and Surgutneftegaz shed more than 3 percent, Uralsvyazinform and Rostelecom sank nearly 4 percent.
The decline on the stock market of Russia began yesterday, triggered by the slump on Chinese markets. RTS lost 3.46 percent, MICEX fell 4.14 percent as a result.
But the experts forecasted further aggravation should the surge on the China’s markets continue. The slump covered the market worldwide, ranging from the Europe’s indices to the U.S. Dow Jones and Nasdaq. Japanese Nikkei fell 2.85 percent today, which is the daily record over the recent eight months. The slump didn’t miss such giants as Sony Corp., Nomura Holdings Inc., Nippon Steel and Softbank. The survivors were Nippon Meat Packers Inc. and Nisshinbo Industries Inc., which managed to close at premium.
Of interest is that the trend on the root cause of Russia’s panic, the stock market of China, has changed today. Shanghai Composite, which lost 8.84 percent a day before, climbed 3.9 percent to 2881.07 today. Shenzhen Composite grew 3.8 percent to 736.81.
www.kommersant.com
|
|
|
