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Apple effect weighs on Asian markets | Apple effect weighs on Asian markets |
(about 4 hours later) | |
Asian markets fell on Friday after a slide in Apple's shares overnight dragged down Wall Street. | |
Apple shares slipped 3.8% after it was forced to pull an update to its iOS8 operating system. | Apple shares slipped 3.8% after it was forced to pull an update to its iOS8 operating system. |
Tokyo's Nikkei 225 index closed 0.9% lower. On Thursday it closed at a seven-year high. | |
Consumer price inflation in Japan rose to 3.1% in August - a slower rate than many economists had expected, and down from 3.3% recorded in June and July. | |
Excluding the impact of a sales tax rise in April, core consumer prices saw inflation of 1.1% - well short of the Bank of Japan's ambitious 2% inflation target for next year. | Excluding the impact of a sales tax rise in April, core consumer prices saw inflation of 1.1% - well short of the Bank of Japan's ambitious 2% inflation target for next year. |
Market politics | Market politics |
In Indonesia, investors are staying away from the markets after parliament voted on Thursday to end direct regional elections. | In Indonesia, investors are staying away from the markets after parliament voted on Thursday to end direct regional elections. |
The system was introduced in 2005 in a bid to allow new politicians, not linked to the old political elite, to emerge. But its opponents argue the elections are too costly and have led to corruption. | The system was introduced in 2005 in a bid to allow new politicians, not linked to the old political elite, to emerge. But its opponents argue the elections are too costly and have led to corruption. |
Incoming Indonesian President Joko Widodo, who was himself a directly-elected governor, called the vote "a big step backwards" for democracy. | Incoming Indonesian President Joko Widodo, who was himself a directly-elected governor, called the vote "a big step backwards" for democracy. |
The benchmark Jakarta composite index closed 1.3% lower. | |
Elsewhere in the region, South Korea's Kospi index fell 0.3% and the Hang Seng in Hong Kong shed 0.3%. | |
Markets in mainland China closed higher, though just barely. The Shanghai Composite index edged up 0.1% to 2,347.52 points. | |
In Australia the benchmark S&P ASX 200 fell 1.2%. | |
The sell-off in US stocks overnight has prompted investors to buy bullion as a safe haven. | The sell-off in US stocks overnight has prompted investors to buy bullion as a safe haven. |
That pushed up the price of spot gold by 0.4% to $1,222 per ounce. | That pushed up the price of spot gold by 0.4% to $1,222 per ounce. |
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