Asian stocks opened lower
Stock markets in the region opened mainly lower this morning led by Indonesia Stock Exchange (IDX), which lost 0.53%. Nikkei and All Ordinaries dropped by 0.4% respectively, while Singapore, Hong Kong, and Shanghai are closed for Chinese New Year holiday.
South Korea's KOSPI also declined 0.3%, mainly on worries about China's decision over the weekend to raise banks reserves requirement. Dow Jones Industrial Average (DJIA) and Footsie dropped 0.44% and 0.37% respectively last Friday.
Coal-related stocks opened mainly lower on declining thermal coal spot prices in Australia, South Africa, and Europe last week. Adaro, Bumi Resources, and Indika opened lower by 1% respectively, while BHP and Rio Tinto lost 1% and 1.7% respectively in Sidney, Australia this morning.
Labels: Stock Market