Asian stocks edge higher after plunge on first trading day of 2016

SEOUL, South Korea – Most Asian stock markets inched higher Tuesday as China’s benchmark stabilized a day after plunging nearly 7 per cent.The Shanghai Composite Index wavered between gains and losses. It was last up 0.1 per cent at 3,299.99. Japan’s Nikkei 225 added 0.3 per cent to 18,514.33 while Australia’s S&P/ASX 200 slipped 0.9 per cent to 5,224.40.South Korea’s Kospi was up 0.7 per cent to 1,932.45 and Hong Kong’s Hang Seng gained 0.2 per cent to 21,371.44. Stocks in Southeast Asia were mixed.Global stocks started the new year on a grim note as poor manufacturing reports from China and the U.S. triggered fears about waning growth around the world. The steep fall on Monday prompted Chinese authorities to halt trading by using a new “circuit-breaker” mechanism for the first time.“Traders are not seeing clarity on the direction of growth. As we are all too familiar with, uncertainty is quite bad for the financial markets,” said Bernard Aw, market strategist at IG in Singapore.Tensions in the Middle East also unnerved investors. Saudi Arabia severed diplomatic relations over the weekend in a dispute over the Saudis’ execution of a Shiite cleric. Concerns about a potential threat to world oil supply pushed up prices of oil.Wall Street finished lower on Monday. The Dow Jones industrial average dropped 1.6 per cent lower to 17,148.94. The Standard & Poor’s 500 lost 1.5 per cent to 2,012.66. The Nasdaq composite fell 2.1 per cent to 4,903.09.Benchmark U.S. crude added 28 cents to $37.04 per barrel on the New York Mercantile Exchange. The contract fell 28 cents to close at $36.76 a barrel on Monday. Brent Crude, the international standard, added 26 cents to $37.48 per barrel in London.In currencies, the dollar rose to 119.54 yen from 119.43 yen in the previous trading session. The euro rose slightly to $1.0828 from $1.0826. Trader Gerard Farco works on the floor of the New York Stock Exchange, Monday, Jan. 4, 2016. U.S. stocks are opening 2016 on a grim note, dropping sharply after a plunge in China and declines in Europe. (AP Photo/Richard Drew) by Youkyung Lee, The Associated Press Posted Jan 4, 2016 8:17 am MDT Last Updated Jan 4, 2016 at 9:00 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Asian stocks edge higher after plunge on first trading day of 2016 sparked by China concerns read more

Arsenal frustrated in Everton stalemate

first_imgARSENAL WASTED A chance to cement their place in the Premier League’s top four as the Gunners were held to a 0-0 draw by Everton on Tuesday.Arsene Wenger’s side would have moved four points clear of fifth placed Tottenham with a win at the Emirates Stadium.But they were forced to settle for a point as obdurate Everton’s physical approach succeeded in frustrating the hosts.Third placed Arsenal are now two points clear of Chelsea and Tottenham in the race to qualify for the Champions League.However Arsenal still have plenty of work to do as Chelsea have two games in hand on Wenger’s team, while Tottenham have played a game less than their north London rivals.Everton remain in sixth place, two points behind Chelsea having played two games more, and a spot in the Europa League now looks their best bet. The best chance of the half fell to Arsenal striker Olivier Giroud.Aaron Ramsey’s burst down the right produced a teasing low cross that picked out Giroud, only for the France international to drag his close-range effort woefully wide. David Moyes’ men should have taken the lead in the opening moments when Steven Pienaar eluded the statuesque Bacary Sagna and raced onto Seamus Coleman’s pass.But with just Wojciech Szczesny to beat, the South African midfielder lifted his shot high over the crossbar. Despite admitting he had rushed Jack Wilshere back from an ankle injury too quickly, Wenger gave the England midfielder his second appearance in four days.And the Frenchman was wincing as Wilshere came in for some rough treatment in the early stages.Crunching challenges from Ross Barkley and Kevin Mirallas left Wilshere writhing on the turf while Wenger leapt to his feet to berate referee Neil Swarbrick for failing to afford his player more protection.Everton’s aggressive approach had knocked Arsenal out of their rhythm and it took a mistake from Marouane Fellaini to gift the Gunners their first sight of goal.Fellaini’s wayward pass was collected by Kieran Gibbs in space on the edge of the penalty area, but the left-back’s powerful strike flashed over the bar.Everton’s attempts to stifle Arsenal were becoming increasingly crude and Darron Gibson’s foul on Theo Walcott finally brought a booking from Swarbrick.Gibson was fortunate to avoid being sent off for a second booking soon after when he barged into Walcott with no attempt to play the ball.Swarbrick settled for a quiet word with the Everton midfielder, in the process infuriating the increasingly exasperated Wenger, who made his feelings clear to fourth official Kevin Friend.The temperature rose even higher when Pienaar was booked for taking out Walcott.But Victor Anichebe went close to opening the scoring when his shot from Barkley’s pass was blocked by Szczesny. Santi Cazorla threatened for Arsenal early in the second half as the Spaniard’s half-volley forced a good save from Tim Howard and moments later Giroud clipped a first-time shot narrowly over.Everton went even closer in the 65th minute when Barkley worked space for a superb strike that beat Szczesny but curled agonisingly past the far post.Wenger responded by taking off Wilshere and Walcott, with Alex Oxlade-Chamberlain and Lukas Podolski coming on.Oxlade-Chamberlain should have made an immediate impact when Cazorla’s pass sent the England winger through on goal, but instead of shooting he opted to pass to Giroud, allowing Coleman to get back and clear.Arsenal had Moyes’ side on the ropes, yet couldn’t deliver the knockout blow as Giroud lashed over from a tight angle.- © AFP, 2013Drogheda earn impressive win over Sligo while Cork City claim draw in Tallaght>Snapshot: Hooperman pays tribute to Boston Marathon victims>last_img read more