Yesterday the Asia-Pacific stock market crashed. The Euro against the dollar (1.2565, 0.0051, 0.41%) once fell to the lowest low in the passed 4 years and the prices of oil fell below 70 dollars. Financial ministers of Euro area gathered again in Brussels to discuss the details of rescuing the market, and the effect stem from anxiety caused by debt crisis in Europe. Yesterday Asia-Pacific region stock markets dropped into the sag dark clouds again and the exchange rate of the euro convert dollar once fell to new low of the last four years and the international oil prices once declined to the big mark with 70 dollars every barrel. Financial ministers of Eurozone met again: before the financial ministers of Eurozone gathered, the European stock market moved up after an edged lower opening yesterday. The average intraday gains of three major indexes are all above 1%, and the exchange rate of euro, which has created new lows in Asian trading hours, also gradually goes higher.Fashion News: UGG Boots Classic Short Rank First for March
European Central Bank President Jean Claude Trichet called for saltatory reforms in the fiscal policies of countries in Eurozone and treating strict management of fiscal opening as the new way for Eurozone. The analysts pointed out that the financial ministers of Eurozone reached an agreement on establishing of new institutions to govern the finance. Besides, the ministers of different countries would also discuss on strengthening the financial supervision and cracking down on speculation. But Mr. Papandreou, the premier of the Greece, expressed yesterday that all the governments of the Euro countries have already submitted the written comments to American president Obama, hoping that the CDS should be banned among the Group of Twenty. Asia-Pacific stock markets were dragged by the Euro crisis: The Asia-Pacific stock markets were battered yesterday with an MSCI Asia-Pacific Index of 2.9%, creating the biggest one-day drop in the past 6 months.Popular Things about your Marvelous UGG Boots Classic Tall
Japan Nikkei 225 index fell 2. What is the Best For this Year? Inspired UGG Boots Classic Short Absolutely!17 percent, to close at 10,235.7 points, a new low since March 5; Korea Stock composite price index fell 2.6%, to close at 1651.5 points; Australia`s benchmark S&P/ASX 200 index fell by 3.1% and closed at 4467.2 points, creating a new lowest record since September 7th. During the trading session of Asia yesterday, the light crude futures price delivered in June by New York Commodity Exchange once dropped to 70 USD for each barrel. A dealer said it was the debt dilemma spreading in Euro area had a significant impact on demand for crude oil in Europe, and the recent international oil price would remain the trend of volatility. The analysts also pointed out that the debt crisis, especially the depression of the Euro zone would bring a heavy blow to the Asia-Pacific equity. And the investors began to worry about the situation that the reducing needs may have impact on the local economy which highly relies on export.
The prospect of Euro is not optimistic: In Asian trading hours yesterday, the EUR/USD exchange rate fell to 1.2234. It was the new low index since April 18th, 2006. Market risk aversion remains strong, and outlook for Euro is not optimistic. As investors bought dollars for hedge, the dollar index yesterday rose to the level of 87. Rennes, an EU Economic and Monetary Affairs Commissioner indicated that the worry of euro`s prospect brought a more furious situation to economy market. EU would try its best to prevent the spread of Greece financial crisis. The European Central Bank governing Nowotny said yesterday that, despite the EUR/USD exchange rate continue to decline, but it did not cause too much concern by the European Central Bank. Nowotny's remarks also rejected rumors that the European Central Bank will make intervention in the market. Germany parliament liberal democrats senator Schaeffler yesterday also said European Central Bank bought national debt is sent Euro to the "scaffold" so that Trichets should resign.